Arrow Financial Corp Sells 1,751 Shares of Netflix, Inc. (NASDAQ:NFLX)

Arrow Financial Corp decreased its holdings in Netflix, Inc. (NASDAQ:NFLX) by 33.3% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 3,511 shares of the Internet television network’s stock after selling 1,751 shares during the quarter. Arrow Financial Corp’s holdings in Netflix were worth $3,274,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Halbert Hargrove Global Advisors LLC boosted its holdings in shares of Netflix by 100.0% during the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network’s stock valued at $25,000 after acquiring an additional 13 shares in the last quarter. Brown Shipley& Co Ltd bought a new position in Netflix during the 4th quarter worth $27,000. Transce3nd LLC bought a new position in Netflix during the 4th quarter worth $32,000. Copia Wealth Management bought a new position in Netflix during the 4th quarter worth $37,000. Finally, Barnes Dennig Private Wealth Management LLC bought a new position in shares of Netflix in the 1st quarter worth about $42,000. Institutional investors own 80.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on NFLX shares. Citigroup reiterated a “neutral” rating and set a $1,250.00 price target (up previously from $1,020.00) on shares of Netflix in a research note on Thursday, May 29th. Macquarie boosted their target price on shares of Netflix from $1,150.00 to $1,200.00 and gave the company an “outperform” rating in a report on Monday, April 21st. Cfra Research raised shares of Netflix to a “strong-buy” rating in a report on Monday, April 28th. KeyCorp upped their price target on shares of Netflix from $1,070.00 to $1,390.00 and gave the company an “overweight” rating in a research report on Thursday, July 10th. Finally, UBS Group reiterated a “market underperform” rating on shares of Netflix in a report on Saturday. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,297.66.

Insider Activity at Netflix

In other Netflix news, Director Reed Hastings sold 9,673 shares of Netflix stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $1,329.11, for a total value of $12,856,481.03. Following the completion of the transaction, the director owned 394 shares of the company’s stock, valued at $523,669.34. The trade was a 96.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Jeffrey William Karbowski sold 620 shares of the business’s stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $1,286.84, for a total transaction of $797,840.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 186,563 shares of company stock valued at $223,147,201. 1.37% of the stock is currently owned by corporate insiders.

Netflix Stock Performance

Shares of NFLX stock opened at $1,213.01 on Monday. Netflix, Inc. has a one year low of $587.04 and a one year high of $1,341.15. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.20 and a current ratio of 1.34. The company has a 50 day moving average price of $1,232.59 and a 200 day moving average price of $1,063.17. The firm has a market capitalization of $516.22 billion, a price-to-earnings ratio of 51.56, a price-to-earnings-growth ratio of 2.15 and a beta of 1.59.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, beating the consensus estimate of $7.07 by $0.12. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The firm had revenue of $11.08 billion for the quarter, compared to analyst estimates of $11.04 billion. During the same quarter last year, the firm posted $4.88 earnings per share. Netflix’s revenue for the quarter was up 15.9% compared to the same quarter last year. Sell-side analysts anticipate 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.