Netflix, Inc. (NASDAQ:NFLX) Stock Position Decreased by Robertson Stephens Wealth Management LLC

Robertson Stephens Wealth Management LLC cut its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 0.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,956 shares of the Internet television network’s stock after selling 42 shares during the period. Robertson Stephens Wealth Management LLC’s holdings in Netflix were worth $6,487,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NFLX. Capital & Planning LLC bought a new position in shares of Netflix in the 4th quarter valued at approximately $809,000. Brighton Jones LLC raised its stake in shares of Netflix by 5.0% in the 4th quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network’s stock valued at $4,804,000 after acquiring an additional 257 shares in the last quarter. Union Bancaire Privee UBP SA bought a new position in shares of Netflix in the 4th quarter valued at approximately $12,212,000. Revolve Wealth Partners LLC raised its stake in shares of Netflix by 16.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network’s stock valued at $912,000 after acquiring an additional 144 shares in the last quarter. Finally, Strategic Financial Concepts LLC raised its stake in shares of Netflix by 29.9% in the 4th quarter. Strategic Financial Concepts LLC now owns 439 shares of the Internet television network’s stock valued at $392,000 after acquiring an additional 101 shares in the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Price Performance

Shares of NFLX stock opened at $1,225.35 on Tuesday. The stock’s fifty day simple moving average is $1,127.47 and its 200 day simple moving average is $1,003.32. 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 firm has a market cap of $521.47 billion, a price-to-earnings ratio of 61.79, a P/E/G ratio of 2.12 and a beta of 1.59. Netflix, Inc. has a one year low of $587.04 and a one year high of $1,262.81.

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

Insider Activity at Netflix

In other Netflix news, Chairman Reed Hastings sold 25,360 shares of Netflix stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $921.15, for a total value of $23,360,364.00. Following the completion of the transaction, the chairman now owns 394 shares in the company, valued at approximately $362,933.10. The trade was a 98.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ann Mather sold 1,358 shares of Netflix stock in a transaction on Friday, May 9th. The shares were sold at an average price of $1,150.00, for a total value of $1,561,700.00. The disclosure for this sale can be found here. Insiders have sold a total of 185,140 shares of company stock valued at $210,271,552 in the last 90 days. 1.37% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

NFLX has been the topic of a number of recent analyst reports. Citigroup reissued a “neutral” rating and issued a $1,250.00 price objective (up from $1,020.00) on shares of Netflix in a research note on Thursday, May 29th. Macquarie raised their price objective on Netflix from $1,150.00 to $1,200.00 and gave the company an “outperform” rating in a research note on Monday, April 21st. Wedbush reissued an “outperform” rating and issued a $1,200.00 price objective on shares of Netflix in a research note on Monday, May 5th. FBN Securities initiated coverage on Netflix in a research note on Thursday, March 27th. They issued an “outperform” rating and a $1,165.00 price objective on the stock. Finally, Evercore ISI reaffirmed an “outperform” rating on shares of Netflix in a research report on Thursday, May 15th. Eleven analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,156.73.

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.