Argus Investors Counsel Inc. Sells 335 Shares of Netflix, Inc. (NASDAQ:NFLX)

Argus Investors Counsel Inc. lessened its stake in Netflix, Inc. (NASDAQ:NFLX) by 21.1% during the first quarter, Holdings Channel reports. The firm owned 1,249 shares of the Internet television network’s stock after selling 335 shares during the period. Argus Investors Counsel Inc.’s holdings in Netflix were worth $1,165,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Pathway Financial Advisers LLC boosted its stake in Netflix by 82.4% in the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock valued at $27,000 after acquiring an additional 14 shares during the last quarter. Brown Shipley& Co Ltd purchased a new stake in shares of Netflix during the fourth quarter worth $27,000. Transce3nd LLC purchased a new position in Netflix during the 4th quarter valued at about $32,000. Copia Wealth Management bought a new position in shares of Netflix in the fourth quarter valued at approximately $37,000. Finally, Stuart Chaussee & Associates Inc. increased its holdings in Netflix by 4,500.0% during the 4th quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network’s stock worth $41,000 after acquiring an additional 45 shares during the period. Institutional investors own 80.93% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on NFLX shares. Phillip Securities upgraded Netflix from a “moderate sell” rating to a “hold” rating in a research report on Monday, April 21st. FBN Securities started coverage on shares of Netflix in a research note on Thursday, March 27th. They issued an “outperform” rating and a $1,165.00 target price on the stock. UBS Group boosted their price target on shares of Netflix from $1,150.00 to $1,450.00 and gave the stock a “buy” rating in a research note on Wednesday, June 4th. Moffett Nathanson reissued a “buy” rating and issued a $1,150.00 price target (up previously from $1,100.00) on shares of Netflix in a report on Friday, April 18th. Finally, Morgan Stanley upped their target price on shares of Netflix from $1,150.00 to $1,200.00 and gave the stock an “overweight” rating in a research report on Monday, April 21st. Eleven research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,156.73.

Insider Activity

In other news, Director Jay C. Hoag sold 31,750 shares of the firm’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $1,252.35, for a total value of $39,762,112.50. Following the completion of the sale, the director now directly owns 63,040 shares of the company’s stock, valued at approximately $78,948,144. This trade represents a 33.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ann Mather sold 1,358 shares of the business’s stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $1,150.00, for a total transaction of $1,561,700.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 185,140 shares of company stock valued at $210,271,552. Company insiders own 1.37% of the company’s stock.

Netflix Price Performance

Shares of Netflix stock opened at $1,215.03 on Friday. The company’s fifty day simple moving average is $1,113.54 and its two-hundred day simple moving average is $996.91. Netflix, Inc. has a 12-month low of $587.04 and a 12-month high of $1,262.81. The firm has a market cap of $517.08 billion, a PE ratio of 61.27, a price-to-earnings-growth ratio of 2.12 and a beta of 1.59. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, topping the consensus estimate 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 last year, the firm earned $8.28 earnings per share. As a group, equities analysts expect that Netflix, Inc. will post 24.58 EPS for the current year.

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.