Evanson Asset Management LLC Reduces Position in Netflix, Inc. (NASDAQ:NFLX)

Evanson Asset Management LLC decreased its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 11.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 729 shares of the Internet television network’s stock after selling 90 shares during the period. Evanson Asset Management LLC’s holdings in Netflix were worth $680,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Halbert Hargrove Global Advisors LLC lifted its position in shares of Netflix by 100.0% during the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network’s stock valued at $25,000 after buying an additional 13 shares in the last quarter. Brown Shipley& Co Ltd purchased a new position in Netflix during the fourth quarter valued at approximately $27,000. Transce3nd LLC bought a new position in shares of Netflix in the fourth quarter worth approximately $32,000. Copia Wealth Management bought a new position in shares of Netflix in the fourth quarter worth approximately $37,000. Finally, Stuart Chaussee & Associates Inc. increased its stake in shares of Netflix by 4,500.0% in the fourth quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network’s stock worth $41,000 after purchasing an additional 45 shares in the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on NFLX. Needham & Company LLC reaffirmed a “buy” rating and issued a $1,126.00 target price on shares of Netflix in a report on Thursday, April 17th. Bank of America boosted their price objective on Netflix from $1,175.00 to $1,490.00 and gave the company a “buy” rating in a research report on Friday, May 30th. Wells Fargo & Company increased their target price on Netflix from $1,210.00 to $1,222.00 and gave the stock an “overweight” rating in a research report on Monday, April 21st. Robert W. Baird lifted their target price on Netflix from $1,200.00 to $1,300.00 and gave the company an “outperform” rating in a research note on Friday, May 16th. Finally, Morgan Stanley upped their price target on Netflix from $1,150.00 to $1,200.00 and gave the stock an “overweight” rating in a research note 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 company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,156.73.

Insider Buying and Selling at Netflix

In other news, CAO Jeffrey William Karbowski sold 480 shares of the business’s stock in a transaction dated Tuesday, March 25th. The shares were 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 at this link. Also, Director Jay C. Hoag sold 32,515 shares of the company’s stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $1,101.97, for a total transaction of $35,830,554.55. Following the completion of the sale, the director now directly 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. Insiders sold a total of 185,140 shares of company stock valued at $210,271,552 in the last three months. Company insiders own 1.37% of the company’s stock.

Netflix Trading Up 0.1%

NFLX opened at $1,222.29 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.20 and a current ratio of 1.20. The stock’s 50 day moving average price is $1,144.53 and its 200-day moving average price is $1,008.57. Netflix, Inc. has a one year low of $587.04 and a one year high of $1,262.81. The stock has a market cap of $520.17 billion, a price-to-earnings ratio of 57.76, a P/E/G ratio of 2.36 and a beta of 1.59.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data 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. Netflix had a return on equity of 39.61% and a net margin of 23.07%. The company had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.51 billion. During the same quarter in the prior year, the company posted $8.28 EPS. On average, equities analysts forecast 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.