Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Lewis Asset Management LLC

Lewis Asset Management LLC lowered its position in Netflix, Inc. (NASDAQ:NFLX) by 13.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 247 shares of the Internet television network’s stock after selling 38 shares during the period. Lewis Asset Management LLC’s holdings in Netflix were worth $230,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Resurgent Financial Advisors LLC raised its holdings in Netflix by 234.4% in the 1st quarter. Resurgent Financial Advisors LLC now owns 1,010 shares of the Internet television network’s stock valued at $942,000 after acquiring an additional 708 shares during the last quarter. Janus Henderson Group PLC boosted its position in Netflix by 8.7% during the 4th quarter. Janus Henderson Group PLC now owns 1,377,081 shares of the Internet television network’s stock worth $1,227,468,000 after purchasing an additional 110,432 shares during the period. PharVision Advisers LLC purchased a new stake in Netflix during the 4th quarter worth $873,000. New England Research & Management Inc. boosted its position in Netflix by 148.5% during the 1st quarter. New England Research & Management Inc. now owns 2,122 shares of the Internet television network’s stock worth $1,979,000 after purchasing an additional 1,268 shares during the period. Finally, Xcel Wealth Management LLC boosted its position in Netflix by 15.2% during the 1st quarter. Xcel Wealth Management LLC now owns 492 shares of the Internet television network’s stock worth $459,000 after purchasing an additional 65 shares during the period. Institutional investors and hedge funds own 80.93% of the company’s stock.

Insider Activity

In related news, CFO Spencer Adam Neumann sold 2,601 shares of the firm’s stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $1,132.38, for a total value 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 approximately $4,179,614.58. This trade represents a 41.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Bradford L. Smith sold 3,919 shares of the 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 transaction of $4,405,974.94. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 186,563 shares of company stock worth $223,147,201. Company insiders own 1.37% of the company’s stock.

Netflix Price Performance

Shares of NASDAQ:NFLX opened at $1,205.18 on Monday. Netflix, Inc. has a one year low of $587.04 and a one year high of $1,341.15. The stock has a fifty day moving average of $1,232.59 and a 200-day moving average of $1,063.17. The company has a market capitalization of $512.89 billion, a PE ratio of 51.52, a price-to-earnings-growth ratio of 2.15 and a beta of 1.59. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.20 and a current ratio of 1.34.

Netflix (NASDAQ:NFLX) last announced its 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 return on equity of 42.50% and a net margin of 24.58%. The business had revenue of $11.08 billion during the quarter, compared to the consensus estimate of $11.04 billion. During the same period in the prior year, the business posted $4.88 earnings per share. Netflix’s revenue was up 15.9% compared to the same quarter last year. As a group, equities analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on NFLX shares. Morgan Stanley boosted their price objective on shares of Netflix from $1,450.00 to $1,500.00 and gave the stock an “overweight” rating in a report on Friday. Wedbush reiterated an “outperform” rating and issued a $1,500.00 price objective (up previously from $1,400.00) on shares of Netflix in a report on Monday, July 14th. Citigroup restated a “neutral” rating and issued a $1,250.00 target price (up previously from $1,020.00) on shares of Netflix in a research note on Thursday, May 29th. JPMorgan Chase & Co. upped their target price on shares of Netflix from $1,230.00 to $1,300.00 and gave the company a “neutral” rating in a research note on Friday. Finally, Barclays restated a “sell” rating and issued a $1,100.00 target price (up previously from $1,000.00) on shares of Netflix in a research note on Wednesday, July 9th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,297.66.

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.