Netflix, Inc. (NASDAQ:NFLX) Stake Lowered by Malaga Cove Capital LLC

Malaga Cove Capital LLC cut its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 1.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,567 shares of the Internet television network’s stock after selling 17 shares during the quarter. Malaga Cove Capital LLC’s holdings in Netflix were worth $1,397,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. RMR Wealth Builders grew its holdings in Netflix by 4.8% in the 4th quarter. RMR Wealth Builders now owns 4,863 shares of the Internet television network’s stock worth $4,335,000 after buying an additional 221 shares in the last quarter. Matrix Trust Co bought a new position in Netflix in the 4th quarter worth approximately $162,000. Fiduciary Alliance LLC bought a new position in Netflix in the 4th quarter worth approximately $349,000. Capital Investment Advisors LLC grew its holdings in Netflix by 25.4% in the 4th quarter. Capital Investment Advisors LLC now owns 2,199 shares of the Internet television network’s stock worth $1,960,000 after buying an additional 446 shares in the last quarter. Finally, Thomasville National Bank bought a new position in Netflix in the 4th quarter worth approximately $220,000. 80.93% of the stock is owned by institutional investors.

Netflix Trading Up 2.6%

Netflix stock opened at $1,138.44 on Wednesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. The company has a market capitalization of $484.49 billion, a price-to-earnings ratio of 57.41, a PEG ratio of 2.12 and a beta of 1.58. Netflix, Inc. has a one year low of $587.04 and a one year high of $1,164.00. The company’s fifty day moving average price is $991.99 and its two-hundred day moving average price is $938.19.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.74 by $0.87. The company had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.51 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. During the same period last year, the business posted $8.28 earnings per share. On average, analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Citigroup reaffirmed a “neutral” rating on shares of Netflix in a research note on Monday, May 5th. Benchmark reaffirmed a “hold” rating on shares of Netflix in a research note on Monday, April 21st. Seaport Res Ptn raised Netflix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 15th. Robert W. Baird increased their price target on Netflix from $875.00 to $1,200.00 and gave the company an “outperform” rating in a research note on Wednesday, January 22nd. Finally, Bank of America increased their price target on Netflix from $1,000.00 to $1,175.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Ten equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Netflix presently has an average rating of “Moderate Buy” and an average price target of $1,084.91.

Insider Activity at Netflix

In related news, CAO Jeffrey William Karbowski sold 160 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $1,000.00, for a total value of $160,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bradford L. Smith sold 3,919 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $1,124.26, for a total transaction of $4,405,974.94. Following the completion of the sale, the director now owns 7,969 shares of the company’s stock, valued at approximately $8,959,227.94. The trade was a 32.97% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 132,868 shares of company stock worth $138,483,256. 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.