DLK Investment Management LLC Has $2.06 Million Position in Netflix, Inc. (NASDAQ:NFLX)

DLK Investment Management LLC cut its holdings in Netflix, Inc. (NASDAQ:NFLX) by 3.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,208 shares of the Internet television network’s stock after selling 88 shares during the quarter. DLK Investment Management LLC’s holdings in Netflix were worth $2,059,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in NFLX. Halbert Hargrove Global Advisors LLC raised its position in shares of Netflix by 100.0% during the first quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network’s stock worth $25,000 after acquiring an additional 13 shares during the last quarter. Brown Shipley& Co Ltd acquired a new stake in shares of Netflix during the 4th quarter worth approximately $27,000. Transce3nd LLC acquired a new stake in Netflix in the fourth quarter worth $32,000. Copia Wealth Management acquired a new stake in shares of Netflix in the 4th quarter valued at about $37,000. Finally, Stuart Chaussee & Associates Inc. increased its holdings 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 valued at $41,000 after acquiring an additional 45 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Netflix Trading Down 0.3%

Shares of NFLX stock opened at $1,275.25 on Thursday. The stock’s 50-day moving average price is $1,169.57 and its 200-day moving average price is $1,018.04. Netflix, Inc. has a 12-month low of $587.04 and a 12-month high of $1,298.00. The stock has a market capitalization of $542.71 billion, a price-to-earnings ratio of 60.27, a price-to-earnings-growth ratio of 2.47 and a beta of 1.59. 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 released 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 net margin of 23.07% and a return on equity of 39.61%. The business had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.51 billion. During the same quarter last year, the business earned $8.28 earnings per share. Equities research analysts predict that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

NFLX has been the subject of a number of recent research reports. Macquarie boosted their price objective on Netflix from $1,150.00 to $1,200.00 and gave the stock an “outperform” rating in a report on Monday, April 21st. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $1,220.00 target price (up previously from $1,150.00) on shares of Netflix in a research note on Monday, May 19th. Benchmark reissued a “hold” rating on shares of Netflix in a research report on Monday, April 21st. Piper Sandler set a $1,150.00 price objective on shares of Netflix and gave the stock an “overweight” rating in a research report on Monday, April 21st. Finally, Jefferies Financial Group lifted their target price on shares of Netflix from $1,200.00 to $1,400.00 and gave the stock a “buy” rating in a research report on Tuesday, June 3rd. Eleven equities 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 MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $1,172.73.

Insiders Place Their Bets

In other news, CEO Gregory K. Peters sold 2,027 shares of the firm’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $1,141.51, for a total value of $2,313,840.77. Following the completion of the sale, the chief executive officer now owns 12,781 shares in the company, valued at approximately $14,589,639.31. This trade represents a 13.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Jeffrey William Karbowski sold 160 shares of the company’s stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $1,000.00, for a total transaction of $160,000.00. The disclosure for this sale can be found here. Insiders have sold 184,660 shares of company stock valued at $209,802,025 over the last ninety days. 1.37% of the stock is owned by insiders.

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.