SOL Capital Management CO Sells 64 Shares of Netflix, Inc. (NASDAQ:NFLX)

SOL Capital Management CO decreased its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 1.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,227 shares of the Internet television network’s stock after selling 64 shares during the quarter. SOL Capital Management CO’s holdings in Netflix were worth $3,942,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Halbert Hargrove Global Advisors LLC boosted its holdings in shares of 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 purchasing an additional 13 shares during the period. Brown Shipley& Co Ltd purchased a new stake in shares of Netflix in the fourth quarter valued at approximately $27,000. Transce3nd LLC purchased a new stake in shares of Netflix in the fourth quarter valued at approximately $32,000. Copia Wealth Management purchased a new stake in shares of Netflix in the fourth quarter valued at approximately $37,000. Finally, Stuart Chaussee & Associates Inc. boosted its holdings 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 valued at $41,000 after purchasing an additional 45 shares during the period. Institutional investors own 80.93% of the company’s stock.

Netflix Price Performance

NASDAQ NFLX opened at $1,275.25 on Thursday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.20 and a quick ratio of 1.20. The stock’s fifty day moving average price is $1,169.57 and its 200 day moving average price is $1,018.04. Netflix, Inc. has a 1 year low of $587.04 and a 1 year high of $1,298.00. The company has a market cap of $542.71 billion, a price-to-earnings ratio of 60.27, a PEG ratio of 2.47 and a beta of 1.59.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (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 firm had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.51 billion. During the same period in the prior year, the firm earned $8.28 EPS. As a group, equities research analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insider Activity at Netflix

In other Netflix news, Director Jay C. Hoag sold 31,750 shares of the 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 sale, the director now directly owns 63,040 shares of the company’s stock, valued at approximately $78,948,144. This trade represents a 33.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ann Mather sold 1,358 shares of the stock in a transaction dated Friday, May 9th. The stock was 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 184,660 shares of company stock valued at $209,802,025 in the last ninety days. Company insiders own 1.37% of the company’s stock.

Analyst Upgrades and Downgrades

NFLX has been the subject of a number of research reports. Morgan Stanley boosted their price target on Netflix from $1,150.00 to $1,200.00 and gave the company an “overweight” rating in a report on Monday, April 21st. Guggenheim reiterated a “buy” rating and issued a $1,150.00 price target (up previously from $1,100.00) on shares of Netflix in a report on Friday, April 18th. Loop Capital restated a “hold” rating on shares of Netflix in a report on Monday, March 24th. Benchmark restated a “hold” rating on shares of Netflix in a report on Monday, April 21st. Finally, Moffett Nathanson restated a “buy” rating and set a $1,150.00 target price (up previously from $1,100.00) on shares of Netflix in a report on Friday, April 18th. Eleven research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,172.73.

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.