L & S Advisors Inc Sells 3,173 Shares of Netflix, Inc. (NASDAQ:NFLX)

L & S Advisors Inc lessened its stake in Netflix, Inc. (NASDAQ:NFLX) by 41.5% in the first quarter, HoldingsChannel reports. The fund owned 4,472 shares of the Internet television network’s stock after selling 3,173 shares during the period. L & S Advisors Inc’s holdings in Netflix were worth $4,170,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

NFLX has been the subject of a number of research reports. Robert W. Baird increased their price target on shares of Netflix from $1,300.00 to $1,500.00 and gave the stock an “outperform” rating in a research note on Monday, July 21st. Benchmark reissued a “hold” rating on shares of Netflix in a research note on Monday, April 21st. Cfra Research raised shares of Netflix to a “strong-buy” rating in a research note on Monday, April 28th. Jefferies Financial Group set a $1,500.00 price target on shares of Netflix and gave the stock a “buy” rating in a research note on Friday, July 18th. Finally, Pivotal Research reissued a “buy” rating on shares of Netflix in a research note on Thursday, July 10th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,297.66.

Insider Buying and Selling at Netflix

In other Netflix news, CFO Spencer Adam Neumann sold 2,601 shares of the business’s stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $1,211.67, for a total transaction of $3,151,553.67. Following the completion of the sale, the chief financial officer directly owned 3,691 shares in the company, valued at $4,472,273.97. The trade was a 41.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Reed Hastings sold 26,933 shares of the business’s stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $1,211.66, for a total value of $32,633,638.78. Following the sale, the director owned 394 shares of the company’s stock, valued at approximately $477,394.04. This represents a 98.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 123,830 shares of company stock worth $153,102,930. 1.37% of the stock is owned by company insiders.

Netflix Stock Down 0.1%

NASDAQ:NFLX opened at $1,158.60 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.34 and a current ratio of 1.34. The firm has a market cap of $492.32 billion, a P/E ratio of 49.37, a P/E/G ratio of 1.95 and a beta of 1.59. The firm has a 50-day simple moving average of $1,234.32 and a two-hundred day simple moving average of $1,083.98. Netflix, Inc. has a fifty-two week low of $587.04 and a fifty-two week high of $1,341.15.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.07 by $0.12. The business had revenue of $11.08 billion for the quarter, compared to analysts’ expectations of $11.04 billion. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The business’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.88 EPS. Analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

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.