Tobam Lowers Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Tobam cut its stake in Netflix, Inc. (NASDAQ:NFLX) by 76.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 197 shares of the Internet television network’s stock after selling 648 shares during the period. Tobam’s holdings in Netflix were worth $184,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Pathway Financial Advisers LLC lifted its position 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 Netflix in the 4th quarter valued at approximately $27,000. Transce3nd LLC purchased a new stake in shares of Netflix in the fourth quarter valued at approximately $32,000. Copia Wealth Management acquired a new position in shares of Netflix during the 4th quarter worth $37,000. Finally, Stuart Chaussee & Associates Inc. grew its position in Netflix by 4,500.0% during the fourth quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network’s stock worth $41,000 after buying an additional 45 shares during the period. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Insider Activity

In other news, Director Ann Mather sold 1,358 shares of Netflix stock in a transaction on Friday, May 9th. The stock was sold at an average price of $1,150.00, for a total transaction of $1,561,700.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Jeffrey William Karbowski sold 480 shares of Netflix stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $978.18, for a total value of $469,526.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 185,140 shares of company stock valued at $210,271,552. 1.37% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

NFLX has been the topic of several research reports. 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. Guggenheim reaffirmed a “buy” rating and issued a $1,150.00 target price (up from $1,100.00) on shares of Netflix in a research note on Friday, April 18th. 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. Moffett Nathanson restated a “buy” rating and set a $1,150.00 price objective (up from $1,100.00) on shares of Netflix in a report on Friday, April 18th. Finally, FBN Securities initiated coverage on shares of Netflix in a report on Thursday, March 27th. They issued an “outperform” rating and a $1,165.00 price target on the stock. Eleven equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,156.73.

Netflix Trading Down 0.2%

NASDAQ:NFLX opened at $1,212.15 on Friday. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. The company has a market cap of $515.86 billion, a PE ratio of 61.13, a P/E/G ratio of 2.12 and a beta of 1.59. Netflix, Inc. has a 52 week low of $587.04 and a 52 week high of $1,262.81. The business’s 50 day moving average is $1,120.37 and its two-hundred day moving average is $999.25.

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, topping the consensus estimate 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 quarter in the prior year, the business earned $8.28 earnings per share. On average, analysts predict 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.