Melfa Wealth Management Inc. Sells 57 Shares of Netflix, Inc. (NASDAQ:NFLX)

Melfa Wealth Management Inc. lowered its position in Netflix, Inc. (NASDAQ:NFLX) by 17.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 275 shares of the Internet television network’s stock after selling 57 shares during the period. Melfa Wealth Management Inc.’s holdings in Netflix were worth $256,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC increased its position in Netflix by 109,524.3% in the first quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network’s stock worth $8,239,576,000 after buying an additional 8,827,662 shares during the last quarter. Norges Bank purchased a new stake in Netflix in the fourth quarter worth $5,019,087,000. Arrowstreet Capital Limited Partnership increased its position in Netflix by 59.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,301,098 shares of the Internet television network’s stock worth $2,051,016,000 after buying an additional 856,307 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Netflix by 318.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 976,924 shares of the Internet television network’s stock worth $870,752,000 after buying an additional 743,724 shares during the last quarter. Finally, Northern Trust Corp increased its position in Netflix by 14.3% in the fourth quarter. Northern Trust Corp now owns 4,574,006 shares of the Internet television network’s stock worth $4,076,903,000 after buying an additional 570,674 shares during the last quarter. Institutional investors own 80.93% of the company’s stock.

Analysts Set New Price Targets

NFLX has been the subject of a number of recent research reports. Wedbush reissued an “outperform” rating and issued a $1,400.00 target price on shares of Netflix in a research report on Monday. Cfra Research raised Netflix to a “strong-buy” rating in a research report on Monday, April 28th. Benchmark reissued a “hold” rating on shares of Netflix in a research report on Monday, April 21st. Pivotal Research reaffirmed a “buy” rating on shares of Netflix in a report on Thursday. Finally, Needham & Company LLC set a $1,500.00 price target on Netflix and gave the stock a “buy” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,220.58.

Insider Transactions at Netflix

In related news, Director Bradford L. Smith sold 3,919 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $1,124.26, for a total value of $4,405,974.94. Following the sale, the director owned 7,969 shares in the company, valued at $8,959,227.94. This represents a 32.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Jay C. Hoag sold 32,515 shares of the company’s stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $1,101.97, for a total value of $35,830,554.55. Following the completion of the transaction, the director directly owned 79,040 shares in the company, valued at $87,099,708.80. This trade represents a 29.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 186,723 shares of company stock worth $223,307,201 over the last quarter. Insiders own 1.37% of the company’s stock.

Netflix Stock Up 1.4%

NFLX opened at $1,261.95 on Tuesday. The company has a market cap of $537.05 billion, a P/E ratio of 59.64, a P/E/G ratio of 2.25 and a beta of 1.59. The business’s 50-day moving average price is $1,224.26 and its 200-day moving average price is $1,053.21. 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, Inc. has a 12 month low of $587.04 and a 12 month high of $1,341.15.

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

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.