Wittenberg Investment Management Inc. Sells 295 Shares of Netflix, Inc. (NASDAQ:NFLX)

Wittenberg Investment Management Inc. decreased its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 16.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,538 shares of the Internet television network's stock after selling 295 shares during the quarter. Netflix comprises about 0.6% of Wittenberg Investment Management Inc.'s portfolio, making the stock its 24th biggest holding. Wittenberg Investment Management Inc.'s holdings in Netflix were worth $1,434,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in the stock. Halbert Hargrove Global Advisors LLC increased its position in shares of Netflix by 100.0% in the first quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock worth $25,000 after purchasing an additional 13 shares during the period. Brown Shipley& Co Ltd acquired a new stake in Netflix during the fourth quarter worth about $27,000. Transce3nd LLC acquired a new position in shares of Netflix in the 4th quarter valued at approximately $32,000. Copia Wealth Management bought a new stake in shares of Netflix during the 4th quarter worth approximately $37,000. Finally, Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Netflix during the 1st quarter worth approximately $42,000. Institutional investors and hedge funds own 80.93% of the company's stock.

Insider Buying and Selling at Netflix

In other Netflix news, Director Reed Hastings sold 26,933 shares of the business's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $1,211.66, for a total transaction of $32,633,638.78. Following the sale, the director owned 394 shares of the company's stock, valued at $477,394.04. The trade was a 98.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Spencer Adam Neumann sold 2,601 shares of Netflix stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $1,307.22, for a total value of $3,400,079.22. Following the completion of the transaction, the chief financial officer owned 3,691 shares of the company's stock, valued at approximately $4,824,949.02. This trade represents a 41.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 151,584 shares of company stock worth $185,411,484 over the last three months. Company insiders own 1.37% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NFLX. Macquarie upped their target price on Netflix from $1,150.00 to $1,200.00 and gave the stock an "outperform" rating in a research note on Monday, April 21st. Canaccord Genuity Group restated a "buy" rating on shares of Netflix in a research report on Thursday, July 10th. Morgan Stanley reiterated an "equal weight" rating on shares of Netflix in a research report on Monday, July 21st. Oppenheimer boosted their price target on Netflix from $1,200.00 to $1,425.00 and gave the stock an "outperform" rating in a report on Thursday, June 12th. Finally, Moffett Nathanson reiterated a "buy" rating and issued a $1,150.00 price objective (up previously from $1,100.00) on shares of Netflix in a report on Friday, April 18th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Netflix has a consensus rating of "Moderate Buy" and an average price target of $1,297.66.

Netflix Stock Performance

Shares of NFLX stock opened at $1,178.48 on Thursday. The firm's 50-day simple moving average is $1,232.15 and its two-hundred day simple moving average is $1,088.90. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.34 and a current ratio of 1.34. Netflix, Inc. has a 52 week low of $610.64 and a 52 week high of $1,341.15. The firm has a market cap of $500.77 billion, a price-to-earnings ratio of 50.21, a P/E/G ratio of 1.93 and a beta of 1.59.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share for the quarter, topping the consensus estimate of $7.07 by $0.12. The company had revenue of $11.08 billion during the quarter, compared to the consensus estimate of $11.04 billion. Netflix had a return on equity of 42.50% and a net margin of 24.58%. The firm's quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.88 EPS. As a group, equities analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current year.

Netflix Profile

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and games across various genres and languages. The company also provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, TV set-top boxes, and mobile devices.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.