Amalgamated Bank Reduces Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Amalgamated Bank reduced its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 6.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 108,590 shares of the Internet television network's stock after selling 7,315 shares during the period. Amalgamated Bank's holdings in Netflix were worth $52,870,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of NFLX. Authentikos Wealth Advisory LLC bought a new position in shares of Netflix during the 3rd quarter valued at approximately $25,000. Spartan Planning & Wealth Management purchased a new stake in shares of Netflix during the 3rd quarter valued at approximately $26,000. Carmel Capital Partners LLC lifted its stake in shares of Netflix by 290.0% during the 3rd quarter. Carmel Capital Partners LLC now owns 78 shares of the Internet television network's stock valued at $30,000 after buying an additional 58 shares in the last quarter. Blue Bell Private Wealth Management LLC lifted its stake in shares of Netflix by 89.7% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 74 shares of the Internet television network's stock valued at $36,000 after buying an additional 35 shares in the last quarter. Finally, Pacifica Partners Inc. purchased a new stake in shares of Netflix during the 4th quarter valued at approximately $41,000. 80.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. CICC Research assumed coverage on shares of Netflix in a research note on Thursday. They set an "outperform" rating and a $650.00 price target on the stock. Morgan Stanley upped their price target on shares of Netflix from $600.00 to $700.00 and gave the company an "overweight" rating in a research note on Friday, April 12th. Needham & Company LLC upgraded shares of Netflix from a "hold" rating to a "buy" rating and set a $700.00 price target on the stock in a research note on Friday, April 19th. Evercore ISI increased their target price on shares of Netflix from $640.00 to $650.00 and gave the stock an "outperform" rating in a research note on Friday, April 19th. Finally, StockNews.com upgraded shares of Netflix from a "hold" rating to a "buy" rating in a research note on Monday, February 26th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-three have given a buy rating to the company's stock. Based on data from MarketBeat.com, Netflix presently has an average rating of "Moderate Buy" and an average price target of $631.15.

Netflix Trading Up 2.4 %

Netflix stock traded up $13.44 during trading hours on Thursday, reaching $565.15. The stock had a trading volume of 3,067,291 shares, compared to its average volume of 4,450,271. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a market cap of $243.52 billion, a PE ratio of 39.22, a PEG ratio of 1.35 and a beta of 1.23. Netflix, Inc. has a 52 week low of $315.85 and a 52 week high of $639.00. The company has a fifty day simple moving average of $602.66 and a 200-day simple moving average of $524.81.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.51 by $0.77. The business had revenue of $9.37 billion during the quarter, compared to analysts' expectations of $9.28 billion. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The business's revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period in the previous year, the company earned $2.88 earnings per share. Analysts forecast that Netflix, Inc. will post 18.13 EPS for the current fiscal year.

Insider Transactions at Netflix

In related news, Director Ann Mather sold 3,673 shares of the business's stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $600.00, for a total transaction of $2,203,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Chairman Reed Hastings sold 18,361 shares of the business's stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $551.54, for a total value of $10,126,825.94. Following the transaction, the chairman now owns 28 shares of the company's stock, valued at $15,443.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ann Mather sold 3,673 shares of the business's stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $600.00, for a total transaction of $2,203,800.00. The disclosure for this sale can be found here. Insiders sold 152,833 shares of company stock worth $88,270,051 over the last three months. 1.76% of the stock is currently owned by company insiders.

About Netflix

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.