Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Clear Point Advisors Inc.

Clear Point Advisors Inc. reduced its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 7.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 432 shares of the Internet television network’s stock after selling 34 shares during the quarter. Clear Point Advisors Inc.’s holdings in Netflix were worth $403,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NFLX. GAMMA Investing LLC raised its stake in Netflix by 109,524.3% during the 1st quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network’s stock worth $8,239,576,000 after acquiring an additional 8,827,662 shares in the last quarter. Norges Bank purchased a new position in Netflix during the 4th quarter worth $5,019,087,000. Proficio Capital Partners LLC grew its position in Netflix by 123,836.7% during the 4th quarter. Proficio Capital Partners LLC now owns 1,925,977 shares of the Internet television network’s stock worth $1,716,662,000 after purchasing an additional 1,924,423 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in Netflix by 59.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,301,098 shares of the Internet television network’s stock worth $2,051,016,000 after purchasing an additional 856,307 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in Netflix by 318.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 976,924 shares of the Internet television network’s stock worth $870,752,000 after purchasing an additional 743,724 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Netflix Stock Up 0.1%

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

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.74 by $0.87. The company had revenue of $10.54 billion during the quarter, compared to analysts’ expectations of $10.51 billion. Netflix had a net margin of 23.07% and a return on equity of 39.61%. During the same quarter in the previous year, the business posted $8.28 earnings per share. On average, research analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

NFLX has been the topic of several research reports. Bank of America raised their price objective on shares of Netflix from $1,175.00 to $1,490.00 and gave the stock a “buy” rating in a research report on Friday, May 30th. KeyCorp raised their price objective on shares of Netflix from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a research report on Monday, April 21st. Benchmark reissued a “hold” rating on shares of Netflix in a research report on Monday, April 21st. Robert W. Baird raised their price objective on shares of Netflix from $1,200.00 to $1,300.00 and gave the stock an “outperform” rating in a research report on Friday, May 16th. Finally, Pivotal Research raised their price objective on shares of Netflix from $1,250.00 to $1,350.00 and gave the stock a “buy” rating in a research report on Monday, April 21st. Eleven analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,156.73.

Insiders Place Their Bets

In other Netflix news, Chairman Reed Hastings sold 25,360 shares of Netflix stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $921.15, for a total transaction 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jay C. Hoag sold 31,750 shares of Netflix stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $1,252.35, for a total transaction of $39,762,112.50. Following the transaction, the director now owns 63,040 shares of the company’s stock, valued at approximately $78,948,144. The trade was a 33.50% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 185,140 shares of company stock worth $210,271,552. Insiders own 1.37% of the company’s stock.

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.