Gradient Investments LLC Decreases Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Gradient Investments LLC decreased its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 12.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,468 shares of the Internet television network's stock after selling 3,809 shares during the period. Gradient Investments LLC's holdings in Netflix were worth $16,075,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Stratos Wealth Advisors LLC lifted its stake in shares of Netflix by 25.7% during the third quarter. Stratos Wealth Advisors LLC now owns 2,583 shares of the Internet television network's stock worth $975,000 after buying an additional 528 shares during the period. BLB&B Advisors LLC grew its stake in Netflix by 21.5% during the 3rd quarter. BLB&B Advisors LLC now owns 1,319 shares of the Internet television network's stock valued at $498,000 after purchasing an additional 233 shares during the last quarter. Miracle Mile Advisors LLC increased its holdings in shares of Netflix by 4.3% in the third quarter. Miracle Mile Advisors LLC now owns 8,750 shares of the Internet television network's stock valued at $3,304,000 after purchasing an additional 364 shares during the period. Means Investment CO. Inc. raised its stake in shares of Netflix by 2.9% in the third quarter. Means Investment CO. Inc. now owns 2,055 shares of the Internet television network's stock worth $776,000 after purchasing an additional 58 shares during the last quarter. Finally, Ridgecrest Wealth Partners LLC raised its position in Netflix by 5.4% during the 3rd quarter. Ridgecrest Wealth Partners LLC now owns 900 shares of the Internet television network's stock worth $340,000 after buying an additional 46 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company's stock.

Netflix Trading Up 2.5 %

Shares of Netflix stock traded up $14.19 during trading hours on Friday, hitting $579.34. The company's stock had a trading volume of 3,307,524 shares, compared to its average volume of 4,520,712. The stock has a market cap of $249.67 billion, a price-to-earnings ratio of 40.20, a P/E/G ratio of 1.37 and a beta of 1.23. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.07 and a current ratio of 1.07. Netflix, Inc. has a twelve month low of $317.95 and a twelve month high of $639.00. The firm has a fifty day moving average of $602.57 and a 200-day moving average of $526.33.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its earnings results on Thursday, April 18th. The Internet television network reported $5.28 EPS for the quarter, beating analysts' consensus estimates of $4.51 by $0.77. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The company had revenue of $9.37 billion for the quarter, compared to analysts' expectations of $9.28 billion. During the same quarter in the prior year, the company posted $2.88 earnings per share. Netflix's revenue for the quarter was up 14.8% compared to the same quarter last year. Research analysts forecast that Netflix, Inc. will post 18.3 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Citigroup boosted their target price on shares of Netflix from $555.00 to $660.00 and gave the company a "neutral" rating in a research report on Monday, March 25th. Morgan Stanley boosted their price objective on Netflix from $600.00 to $700.00 and gave the company an "overweight" rating in a report on Friday, April 12th. Wedbush reiterated an "outperform" rating and set a $725.00 price target on shares of Netflix in a research report on Friday, April 19th. Canaccord Genuity Group lowered Netflix from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $720.00 to $585.00 in a research report on Friday, April 19th. Finally, Benchmark reaffirmed a "sell" rating and set a $440.00 target price on shares of Netflix in a report on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $631.15.

Insider Buying and Selling

In related news, insider David A. Hyman sold 267 shares of the stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $556.01, for a total transaction of $148,454.67. Following the transaction, the insider now owns 31,610 shares of the company's stock, valued at approximately $17,575,476.10. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider David A. Hyman sold 267 shares of the company's stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $556.01, for a total transaction of $148,454.67. Following the sale, the insider now directly owns 31,610 shares of the company's stock, valued at approximately $17,575,476.10. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Theodore A. Sarandos sold 68,957 shares of the business's stock in a transaction on Friday, February 9th. The stock was sold at an average price of $561.33, for a total transaction of $38,707,632.81. Following the completion of the transaction, the chief executive officer now owns 1,278 shares of the company's stock, valued at approximately $717,379.74. The disclosure for this sale can be found here. In the last quarter, insiders sold 152,833 shares of company stock valued at $88,270,051. Company insiders own 1.76% of the company's stock.

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.

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