Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Cottage Street Advisors LLC

Cottage Street Advisors LLC trimmed its position in Netflix, Inc. (NASDAQ:NFLX) by 23.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 325 shares of the Internet television network’s stock after selling 100 shares during the period. Cottage Street Advisors LLC’s holdings in Netflix were worth $303,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Halbert Hargrove Global Advisors LLC boosted its stake in Netflix by 100.0% in the first quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network’s stock valued at $25,000 after acquiring an additional 13 shares in the last quarter. Brown Shipley& Co Ltd acquired a new stake in Netflix in the fourth quarter valued at approximately $27,000. Transce3nd LLC acquired a new stake in Netflix in the fourth quarter valued at approximately $32,000. Copia Wealth Management acquired a new stake in Netflix in the fourth quarter valued at approximately $37,000. Finally, Stuart Chaussee & Associates Inc. lifted its stake in shares of 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. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Netflix

In related news, Director Jay C. Hoag sold 31,750 shares of the company’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $1,252.35, for a total transaction of $39,762,112.50. Following the completion of the sale, the director now owns 63,040 shares of the company’s stock, valued at approximately $78,948,144. This represents a 33.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ann Mather sold 1,090 shares of the company’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $1,250.00, for a total transaction of $1,362,500.00. The disclosure for this sale can be found here. Insiders sold 185,140 shares of company stock valued at $210,271,552 over the last 90 days. Corporate insiders own 1.37% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Jefferies Financial Group lifted their price objective on shares of Netflix from $1,200.00 to $1,400.00 and gave the stock a “buy” rating in a research note on Tuesday, June 3rd. Rosenblatt Securities lifted their price objective on shares of Netflix from $1,494.00 to $1,514.00 and gave the stock a “buy” rating in a research note on Monday, April 21st. Citigroup reiterated a “neutral” rating and set a $1,250.00 price objective (up from $1,020.00) on shares of Netflix in a research note on Thursday, May 29th. Barclays lifted their price objective on shares of Netflix from $900.00 to $1,000.00 and gave the stock an “equal weight” rating in a research note on Monday, April 21st. Finally, Phillip Securities upgraded shares of Netflix from a “moderate sell” rating to a “hold” rating in a research note on Monday, April 21st. Eleven analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $1,172.73.

Netflix Stock Up 0.8%

NFLX stock opened at $1,231.49 on Friday. The stock has a market capitalization of $524.09 billion, a P/E ratio of 58.20, a P/E/G ratio of 2.36 and a beta of 1.59. The firm has a 50-day simple moving average of $1,150.80 and a 200-day simple moving average of $1,010.84. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.58. Netflix, Inc. has a 52 week low of $587.04 and a 52 week high of $1,262.81.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, topping analysts’ consensus estimates of $5.74 by $0.87. The business 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 company earned $8.28 earnings per share. Equities analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current fiscal 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.