Harrington Investments INC Sells 164 Shares of Netflix, Inc. (NASDAQ:NFLX)

Harrington Investments INC lowered its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 2.3% during the first quarter, HoldingsChannel reports. The fund owned 7,122 shares of the Internet television network’s stock after selling 164 shares during the quarter. Netflix comprises about 3.8% of Harrington Investments INC’s portfolio, making the stock its 3rd largest holding. Harrington Investments INC’s holdings in Netflix were worth $6,641,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of NFLX. Pathway Financial Advisers LLC boosted its position in Netflix by 82.4% during the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock worth $27,000 after buying an additional 14 shares during the period. Brown Shipley& Co Ltd acquired a new position in shares of Netflix during the fourth quarter worth $27,000. Transce3nd LLC bought a new stake in shares of Netflix in the fourth quarter worth $32,000. Pineridge Advisors LLC grew its stake in shares of Netflix by 4,000.0% in the fourth quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock worth $37,000 after purchasing an additional 40 shares during the last quarter. Finally, Copia Wealth Management acquired a new stake in Netflix in the fourth quarter valued at $37,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

Insider Activity at Netflix

In related news, CAO Jeffrey William Karbowski sold 480 shares of the stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $978.18, for a total value of $469,526.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Gregory K. Peters sold 2,027 shares of the firm’s stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $1,141.51, for a total value of $2,313,840.77. Following the transaction, the chief executive officer now owns 12,781 shares in the company, valued at approximately $14,589,639.31. This trade represents a 13.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 153,390 shares of company stock valued at $170,509,439. 1.37% of the stock is owned by corporate insiders.

Analyst Ratings Changes

NFLX has been the topic of several recent research reports. BMO Capital Markets reaffirmed an “outperform” rating and set a $1,200.00 target price (up from $1,175.00) on shares of Netflix in a report on Friday, April 18th. Pivotal Research lifted their price objective on Netflix from $1,250.00 to $1,350.00 and gave the stock a “buy” rating in a research note on Monday, April 21st. Bank of America upped their target price on Netflix from $1,175.00 to $1,490.00 and gave the company a “buy” rating in a report on Friday, May 30th. Phillip Securities upgraded shares of Netflix from a “moderate sell” rating to a “hold” rating in a report on Monday, April 21st. Finally, Wolfe Research set a $1,340.00 price objective on shares of Netflix and gave the company an “outperform” rating in a research note on Friday, May 16th. Eleven equities research 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 company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,149.91.

Netflix Stock Performance

NASDAQ NFLX opened at $1,241.47 on Friday. The company has a market cap of $528.33 billion, a P/E ratio of 62.61, a PEG ratio of 2.12 and a beta of 1.59. The company has a fifty day simple moving average of $1,087.80 and a 200 day simple moving average of $987.81. 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 $1,262.81.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, beating analysts’ consensus estimates of $5.74 by $0.87. The firm had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.51 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. During the same period last year, the firm earned $8.28 earnings per share. Sell-side analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Netflix Company 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.