Pinnacle Associates Ltd. trimmed its position in Netflix, Inc. (NASDAQ:NFLX – Free Report) by 13.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,002 shares of the Internet television network’s stock after selling 1,239 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Netflix were worth $2,764,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. ICICI Prudential Asset Management Co Ltd grew its stake in Netflix by 27.6% during the 1st quarter. ICICI Prudential Asset Management Co Ltd now owns 2,851 shares of the Internet television network’s stock worth $985,000 after buying an additional 616 shares during the last quarter. Merriman Wealth Management LLC bought a new position in Netflix during the 1st quarter worth $222,000. Oregon Public Employees Retirement Fund grew its stake in Netflix by 0.6% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 34,556 shares of the Internet television network’s stock worth $11,938,000 after buying an additional 207 shares during the last quarter. Eagle Bluffs Wealth Management LLC grew its stake in Netflix by 13.3% during the 1st quarter. Eagle Bluffs Wealth Management LLC now owns 8,157 shares of the Internet television network’s stock worth $2,818,000 after buying an additional 958 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC grew its stake in Netflix by 2.0% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 1,918 shares of the Internet television network’s stock worth $663,000 after buying an additional 37 shares during the last quarter. 89.73% of the stock is currently owned by institutional investors.
Netflix Stock Performance
NFLX opened at $431.00 on Friday. Netflix, Inc. has a 12-month low of $211.73 and a 12-month high of $485.00. The firm has a market capitalization of $191.00 billion, a P/E ratio of 45.90, a price-to-earnings-growth ratio of 1.43 and a beta of 1.30. The stock’s 50 day moving average price is $427.52 and its two-hundred day moving average price is $367.15. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.62.
Netflix (NASDAQ:NFLX – Get Free Report) last announced its quarterly earnings data on Wednesday, July 19th. The Internet television network reported $3.29 earnings per share for the quarter, topping the consensus estimate of $2.85 by $0.44. Netflix had a return on equity of 19.76% and a net margin of 13.22%. The company had revenue of $8.19 billion for the quarter, compared to analyst estimates of $8.29 billion. During the same quarter last year, the firm earned $3.20 EPS. Netflix’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, equities analysts forecast that Netflix, Inc. will post 11.86 earnings per share for the current year.
Insider Transactions at Netflix
In related news, Director Richard N. Barton sold 500 shares of the firm’s stock in a transaction that occurred on Monday, July 10th. The stock was sold at an average price of $438.52, for a total transaction of $219,260.00. Following the completion of the transaction, the director now owns 86 shares in the company, valued at approximately $37,712.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Netflix news, Director Richard N. Barton sold 500 shares of Netflix stock in a transaction on Monday, July 10th. The stock was sold at an average price of $438.52, for a total value of $219,260.00. Following the completion of the transaction, the director now owns 86 shares in the company, valued at approximately $37,712.72. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Timothy M. Haley sold 903 shares of Netflix stock in a transaction on Friday, June 9th. The shares were sold at an average price of $425.00, for a total value of $383,775.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 87,443 shares of company stock valued at $36,488,472. 2.45% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on NFLX shares. Evercore ISI boosted their price target on Netflix from $400.00 to $550.00 and gave the stock an “outperform” rating in a research report on Thursday, July 20th. Wolfe Research boosted their price target on Netflix from $485.00 to $500.00 in a research report on Thursday, July 20th. UBS Group boosted their price target on Netflix from $390.00 to $525.00 and gave the stock a “buy” rating in a research report on Wednesday, July 12th. Loop Capital boosted their price target on Netflix from $330.00 to $425.00 in a research report on Monday, July 17th. Finally, Rosenblatt Securities boosted their price target on Netflix from $358.00 to $400.00 and gave the stock a “neutral” rating in a research report on Thursday, July 20th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $426.41.
Read Our Latest Research Report on Netflix
Netflix Company Profile
Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and mobile games across various genres and languages. The company provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, television set-top boxes, and mobile devices.
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