Greenleaf Trust Sells 748 Shares of Netflix, Inc. (NASDAQ:NFLX)

Greenleaf Trust lowered its position in Netflix, Inc. (NASDAQ:NFLX) by 7.3% in the first quarter, HoldingsChannel.com reports. The fund owned 9,501 shares of the Internet television network’s stock after selling 748 shares during the quarter. Greenleaf Trust’s holdings in Netflix were worth $8,860,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of NFLX. Fullcircle Wealth LLC grew its holdings in Netflix by 2.5% during the 1st quarter. Fullcircle Wealth LLC now owns 369 shares of the Internet television network’s stock worth $344,000 after acquiring an additional 9 shares during the period. Warwick Investment Management Inc. boosted its stake in Netflix by 3.5% in the 4th quarter. Warwick Investment Management Inc. now owns 298 shares of the Internet television network’s stock worth $266,000 after purchasing an additional 10 shares during the period. MRP Capital Investments LLC boosted its stake in Netflix by 1.0% in the 4th quarter. MRP Capital Investments LLC now owns 1,052 shares of the Internet television network’s stock worth $938,000 after purchasing an additional 10 shares during the period. Bedell Frazier Investment Counselling LLC boosted its stake in Netflix by 2.2% in the 4th quarter. Bedell Frazier Investment Counselling LLC now owns 462 shares of the Internet television network’s stock worth $412,000 after purchasing an additional 10 shares during the period. Finally, Mission Creek Capital Partners Inc. lifted its position in Netflix by 0.3% during the 4th quarter. Mission Creek Capital Partners Inc. now owns 3,826 shares of the Internet television network’s stock worth $3,410,000 after buying an additional 10 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Price Performance

Shares of NASDAQ NFLX opened at $1,275.31 on Wednesday. Netflix, Inc. has a twelve month low of $587.04 and a twelve month high of $1,341.15. The firm has a fifty day simple moving average of $1,214.45 and a 200 day simple moving average of $1,042.85. The company has a market capitalization of $542.73 billion, a PE ratio of 60.27, a P/E/G ratio of 2.34 and a beta of 1.59. 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 (NASDAQ:NFLX) last announced its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $10.51 billion. During the same quarter last year, the firm earned $8.28 earnings per share. On average, sell-side analysts forecast that Netflix, Inc. will post 24.58 EPS for the current year.

Analyst Upgrades and Downgrades

NFLX has been the topic of several analyst reports. Citigroup reissued a “neutral” rating and set a $1,250.00 price target (up from $1,020.00) on shares of Netflix in a research report on Thursday, May 29th. Pivotal Research upped their price target on shares of Netflix from $1,350.00 to $1,600.00 and gave the company a “buy” rating in a research note on Friday, June 20th. Canaccord Genuity Group increased their target price on shares of Netflix from $1,380.00 to $1,525.00 and gave the stock a “buy” rating in a research report on Wednesday, July 2nd. UBS Group increased their target price on shares of Netflix from $1,150.00 to $1,450.00 and gave the stock a “buy” rating in a research report on Wednesday, June 4th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $1,220.00 price target (up previously from $1,150.00) on shares of Netflix in a research report on Monday, May 19th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $1,185.61.

Insider Activity

In related news, CFO Spencer Adam Neumann sold 2,601 shares of Netflix stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $1,132.38, for a total transaction of $2,945,320.38. Following the completion of the transaction, the chief financial officer owned 3,691 shares of the company’s stock, valued at $4,179,614.58. This trade represents a 41.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jay C. Hoag sold 32,515 shares of the firm’s stock in a transaction 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 owned 79,040 shares of the company’s stock, valued at $87,099,708.80. The trade was a 29.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 186,723 shares of company stock worth $223,307,201 over the last ninety days. Corporate insiders own 1.37% of the company’s stock.

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.