Worth Asset Management LLC Sells 1,350 Shares of Netflix, Inc. (NASDAQ:NFLX)

Worth Asset Management LLC cut its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 43.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,744 shares of the Internet television network's stock after selling 1,350 shares during the period. Netflix accounts for approximately 0.9% of Worth Asset Management LLC's portfolio, making the stock its 28th largest holding. Worth Asset Management LLC's holdings in Netflix were worth $1,626,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of NFLX. Vanguard Group Inc. raised its position in shares of Netflix by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 37,488,005 shares of the Internet television network's stock valued at $33,413,809,000 after buying an additional 171,712 shares in the last quarter. FMR LLC lifted its position in Netflix by 1.8% in the 4th quarter. FMR LLC now owns 20,887,090 shares of the Internet television network's stock worth $18,617,081,000 after buying an additional 375,234 shares during the last quarter. Geode Capital Management LLC boosted its stake in Netflix by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 9,323,952 shares of the Internet television network's stock worth $8,287,823,000 after buying an additional 175,596 shares in the last quarter. GAMMA Investing LLC grew its position in Netflix by 109,524.3% during the first quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network's stock valued at $8,239,576,000 after acquiring an additional 8,827,662 shares during the last quarter. Finally, Norges Bank bought a new position in Netflix during the fourth quarter valued at approximately $5,019,087,000. Hedge funds and other institutional investors own 80.93% of the company's stock.

Insider Transactions at Netflix

In other news, Director Jay C. Hoag sold 22,504 shares of the business's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $1,189.21, for a total transaction of $26,761,981.84. Following the completion of the sale, the director now owns 73,370 shares of the company's stock, valued at $87,252,337.70. The trade was a 23.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Spencer Adam Neumann sold 2,601 shares of the company's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $921.72, for a total value of $2,397,393.72. Following the completion of the sale, the chief financial officer now owns 3,691 shares of the company's stock, valued at approximately $3,402,068.52. The trade was a 41.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 122,766 shares of company stock worth $133,361,747 in the last ninety days. Insiders own 1.37% of the company's stock.

Netflix Stock Down 0.1%

Shares of Netflix stock traded down $1.04 on Tuesday, reaching $1,217.94. The company's stock had a trading volume of 2,360,170 shares, compared to its average volume of 3,746,028. The company has a market capitalization of $518.32 billion, a price-to-earnings ratio of 61.42, a P/E/G ratio of 2.12 and a beta of 1.58. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. Netflix, Inc. has a 52 week low of $587.04 and a 52 week high of $1,229.03. The firm's fifty day simple moving average is $1,064.24 and its two-hundred day simple moving average is $979.03.

Netflix (NASDAQ:NFLX - Get Free Report) last released its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, beating the consensus estimate of $5.74 by $0.87. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The firm had revenue of $10.54 billion during the quarter, compared to analysts' expectations of $10.51 billion. During the same period in the previous year, the company earned $8.28 earnings per share. Equities analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently commented on NFLX. BMO Capital Markets reaffirmed an "outperform" rating and set a $1,200.00 target price (up previously from $1,175.00) on shares of Netflix in a report on Friday, April 18th. Jefferies Financial Group lifted their price objective on Netflix from $1,200.00 to $1,400.00 and gave the stock a "buy" rating in a report on Tuesday. Bank of America boosted their target price on Netflix from $1,175.00 to $1,490.00 and gave the company a "buy" rating in a research note on Friday. Moffett Nathanson reaffirmed a "buy" rating and set a $1,150.00 price objective (up from $1,100.00) on shares of Netflix in a research note on Friday, April 18th. Finally, Guggenheim reissued a "buy" rating and issued a $1,150.00 target price (up from $1,100.00) on shares of Netflix in a research note on Friday, April 18th. Eleven analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $1,140.52.

Netflix Company 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.