Twin Capital Management Inc. Sells 929 Shares of Netflix, Inc. (NASDAQ:NFLX)

Twin Capital Management Inc. lessened its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 11.9% during the first quarter, Holdings Channel.com reports. The institutional investor owned 6,903 shares of the Internet television network’s stock after selling 929 shares during the quarter. Netflix accounts for approximately 0.8% of Twin Capital Management Inc.’s portfolio, making the stock its 23rd largest position. Twin Capital Management Inc.’s holdings in Netflix were worth $6,437,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Montag A & Associates Inc. boosted its holdings in shares of Netflix by 37.6% during the 1st quarter. Montag A & Associates Inc. now owns 9,268 shares of the Internet television network’s stock worth $8,643,000 after buying an additional 2,533 shares during the period. IFP Advisors Inc raised its holdings in Netflix by 6.3% in the 1st quarter. IFP Advisors Inc now owns 4,880 shares of the Internet television network’s stock valued at $4,551,000 after acquiring an additional 291 shares during the period. Morse Asset Management Inc lifted its position in Netflix by 1.9% during the first quarter. Morse Asset Management Inc now owns 7,086 shares of the Internet television network’s stock worth $6,608,000 after acquiring an additional 129 shares during the last quarter. CBIZ Investment Advisory Services LLC boosted its holdings in shares of Netflix by 231.6% during the first quarter. CBIZ Investment Advisory Services LLC now owns 63 shares of the Internet television network’s stock worth $59,000 after acquiring an additional 44 shares during the period. Finally, Elyxium Wealth LLC boosted its holdings in shares of Netflix by 51.3% during the first quarter. Elyxium Wealth LLC now owns 1,528 shares of the Internet television network’s stock worth $1,425,000 after acquiring an additional 518 shares during the period. Institutional investors own 80.93% of the company’s stock.

Netflix Price Performance

Netflix stock opened at $1,209.24 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.20 and a current ratio of 1.20. Netflix, Inc. has a 52 week low of $587.04 and a 52 week high of $1,341.15. The stock has a market capitalization of $514.62 billion, a P/E ratio of 51.52, a price-to-earnings-growth ratio of 2.19 and a beta of 1.59. The stock has a fifty day moving average of $1,232.59 and a 200-day moving average of $1,061.94.

Netflix (NASDAQ:NFLX) last issued its earnings results on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, topping the consensus estimate of $7.07 by $0.12. The firm had revenue of $11.08 billion during the quarter, compared to the consensus estimate of $11.04 billion. Netflix had a return on equity of 43.00% and a net margin of 24.58%. The business’s quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.88 earnings per share. On average, sell-side analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insider Activity at Netflix

In other news, CAO Jeffrey William Karbowski sold 620 shares of the company’s stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $1,286.84, for a total value of $797,840.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Spencer Adam Neumann sold 2,601 shares of Netflix stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $1,307.22, for a total transaction of $3,400,079.22. Following the sale, the chief financial officer owned 3,691 shares in the company, valued at approximately $4,824,949.02. This represents a 41.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 186,723 shares of company stock worth $223,307,201 in the last ninety days. Insiders own 1.37% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Evercore ISI reiterated an “outperform” rating on shares of Netflix in a research note on Thursday, May 15th. Wells Fargo & Company upped their price objective on Netflix from $1,500.00 to $1,560.00 and gave the company an “overweight” rating in a report on Friday. Wedbush reiterated an “outperform” rating and set a $1,500.00 price objective (up previously from $1,400.00) on shares of Netflix in a research report on Monday, July 14th. Barclays reissued a “sell” rating and set a $1,100.00 target price (up previously from $1,000.00) on shares of Netflix in a report on Wednesday, July 9th. Finally, Cfra Research upgraded shares of Netflix to a “strong-buy” rating in a research note on Monday, April 28th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Netflix has a consensus rating of “Moderate Buy” and an average price target of $1,291.41.

Netflix Company 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.