Veracity Capital LLC Has $505,000 Stake in Netflix, Inc. (NASDAQ:NFLX)

Veracity Capital LLC cut its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 2.7% during the 1st quarter, Holdings Channel reports. The institutional investor owned 542 shares of the Internet television network’s stock after selling 15 shares during the quarter. Veracity Capital LLC’s holdings in Netflix were worth $505,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Netflix by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 37,488,005 shares of the Internet television network’s stock worth $33,413,809,000 after acquiring an additional 171,712 shares during the period. FMR LLC raised its holdings in Netflix by 1.8% during the 4th quarter. FMR LLC now owns 20,887,090 shares of the Internet television network’s stock worth $18,617,081,000 after purchasing an additional 375,234 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Netflix by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 9,323,952 shares of the Internet television network’s stock worth $8,287,823,000 after purchasing an additional 175,596 shares during the period. GAMMA Investing LLC boosted its stake in shares of Netflix by 109,524.3% in the 1st quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network’s stock valued at $8,239,576,000 after purchasing an additional 8,827,662 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Netflix during the fourth quarter worth $5,019,087,000. Institutional investors own 80.93% of the company’s stock.

Analyst Upgrades and Downgrades

NFLX has been the topic of several recent analyst reports. JPMorgan Chase & Co. restated a “neutral” rating and issued a $1,220.00 target price (up previously from $1,150.00) on shares of Netflix in a report on Monday, May 19th. Oppenheimer reissued an “outperform” rating and issued a $1,200.00 price objective (up from $1,150.00) on shares of Netflix in a research report on Friday, April 18th. KeyCorp boosted their price objective on Netflix from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a research note on Monday, April 21st. Wedbush reaffirmed an “outperform” rating and set a $1,200.00 target price on shares of Netflix in a research note on Monday, May 5th. Finally, Guggenheim reiterated a “buy” rating and issued a $1,150.00 target price (up from $1,100.00) on shares of Netflix in a report on Friday, April 18th. Eleven analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Netflix has a consensus rating of “Moderate Buy” and a consensus target price of $1,140.52.

Insider Buying and Selling

In other news, Director Reed Hastings sold 26,933 shares of the company’s stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $1,211.66, for a total transaction of $32,633,638.78. Following the transaction, the director now owns 394 shares of the company’s stock, valued at $477,394.04. This represents a 98.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jay C. Hoag sold 32,515 shares of the stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $1,101.97, for a total value of $35,830,554.55. Following the transaction, the director now owns 79,040 shares of the company’s stock, valued at $87,099,708.80. The trade was a 29.15% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 152,300 shares of company stock worth $169,146,939. Insiders own 1.37% of the company’s stock.

Netflix Stock Performance

Shares of Netflix stock opened at $1,217.94 on Wednesday. The business’s fifty day simple moving average is $1,069.06 and its 200 day simple moving average is $980.69. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. Netflix, Inc. has a 12 month low of $587.04 and a 12 month high of $1,229.57. The firm has a market capitalization of $518.32 billion, a P/E ratio of 61.42, a price-to-earnings-growth ratio of 2.12 and a beta of 1.58.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, topping analysts’ consensus estimates of $5.74 by $0.87. The company had revenue of $10.54 billion for the quarter, compared to analysts’ expectations of $10.51 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. During the same period in the previous year, the business posted $8.28 EPS. As a group, analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current year.

Netflix 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.