Netflix, Inc. (NASDAQ:NFLX) Position Reduced by SeaBridge Investment Advisors LLC

SeaBridge Investment Advisors LLC trimmed its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 9.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,254 shares of the Internet television network’s stock after selling 548 shares during the quarter. Netflix makes up 1.1% of SeaBridge Investment Advisors LLC’s portfolio, making the stock its 26th biggest position. SeaBridge Investment Advisors LLC’s holdings in Netflix were worth $4,900,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in NFLX. Halbert Hargrove Global Advisors LLC raised its holdings 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 purchasing an additional 13 shares during the period. Brown Shipley& Co Ltd acquired a new stake in shares of Netflix during the fourth quarter worth $27,000. Transce3nd LLC acquired a new stake in shares of Netflix during the fourth quarter worth $32,000. Copia Wealth Management acquired a new stake in shares of Netflix during the fourth quarter worth $37,000. Finally, Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of Netflix during the first quarter worth $42,000. 80.93% of the stock is currently owned by institutional investors.

Insider Activity

In other Netflix news, Director Jay C. Hoag sold 32,515 shares of the firm’s stock in a transaction dated 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 sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Bradford L. Smith sold 3,919 shares of the firm’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $1,124.26, for a total transaction of $4,405,974.94. Following the completion of the transaction, the director owned 7,969 shares of the company’s stock, valued at approximately $8,959,227.94. The trade was a 32.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 186,723 shares of company stock valued at $223,307,201. Corporate insiders own 1.37% of the company’s stock.

Netflix Stock Performance

NASDAQ:NFLX opened at $1,260.27 on Wednesday. Netflix, Inc. has a twelve month low of $587.04 and a twelve month high of $1,341.15. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.58. The company has a 50-day moving average of $1,226.71 and a 200-day moving average of $1,054.65. The firm has a market cap of $536.33 billion, a price-to-earnings ratio of 59.56, a price-to-earnings-growth ratio of 2.28 and a beta of 1.59.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, topping 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 company had revenue of $10.54 billion during the quarter, compared to analysts’ expectations of $10.51 billion. During the same period last year, the company posted $8.28 earnings per share. Analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Oppenheimer increased their target price on shares of Netflix from $1,200.00 to $1,425.00 and gave the stock an “outperform” rating in a report on Thursday, June 12th. Morgan Stanley increased their price objective on shares of Netflix from $1,150.00 to $1,200.00 and gave the stock an “overweight” rating in a report on Monday, April 21st. FBN Securities began coverage on shares of Netflix in a report on Thursday, March 27th. They issued an “outperform” rating and a $1,165.00 price objective on the stock. Cfra Research raised shares of Netflix to a “strong-buy” rating in a report on Monday, April 28th. Finally, Jefferies Financial Group increased their price objective on shares of Netflix from $1,200.00 to $1,400.00 and gave the stock a “buy” rating in a report on Tuesday, June 3rd. One 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.com, the company has a consensus rating of “Moderate Buy” and an average price target of $1,227.39.

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.