Altfest L J & Co. Inc. Sells 466 Shares of Netflix, Inc. (NASDAQ:NFLX)

Altfest L J & Co. Inc. lessened its position in Netflix, Inc. (NASDAQ:NFLX) by 17.0% during the 1st quarter, Holdings Channel reports. The firm owned 2,278 shares of the Internet television network’s stock after selling 466 shares during the quarter. Altfest L J & Co. Inc.’s holdings in Netflix were worth $2,124,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in NFLX. Vanguard Group Inc. lifted its position in Netflix by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 37,997,260 shares of the Internet television network’s stock worth $35,433,585,000 after buying an additional 509,255 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Netflix by 109,524.3% during the 1st quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network’s stock worth $8,239,576,000 after buying an additional 8,827,662 shares in the last quarter. Northern Trust Corp boosted its position in Netflix by 14.3% in the 4th quarter. Northern Trust Corp now owns 4,574,006 shares of the Internet television network’s stock valued at $4,076,903,000 after buying an additional 570,674 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Netflix by 57.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,393,064 shares of the Internet television network’s stock valued at $3,164,134,000 after buying an additional 1,236,251 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Netflix by 5.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,811,760 shares of the Internet television network’s stock valued at $2,622,051,000 after acquiring an additional 143,368 shares during the period. Institutional investors own 80.93% of the company’s stock.

Netflix Price Performance

Shares of NFLX opened at $1,178.48 on Thursday. The company’s 50-day moving average is $1,232.15 and its 200-day moving average is $1,088.90. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.34 and a quick ratio of 1.34. The firm has a market capitalization of $500.77 billion, a PE ratio of 50.21, a PEG ratio of 1.93 and a beta of 1.59. Netflix, Inc. has a fifty-two week low of $610.64 and a fifty-two week high of $1,341.15.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share 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 analysts’ expectations of $11.04 billion. During the same period in the prior year, the firm earned $4.88 EPS. The business’s revenue was up 15.9% on a year-over-year basis. Equities analysts forecast that Netflix, Inc. will post 24.58 EPS for the current year.

Insiders Place Their Bets

In related news, insider Cletus R. Willems sold 238 shares of the firm’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $1,153.52, for a total transaction of $274,537.76. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider David A. Hyman sold 424 shares of Netflix stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $1,158.67, for a total transaction of $491,276.08. Following the completion of the sale, the insider owned 31,610 shares of the company’s stock, valued at $36,625,558.70. This trade represents a 1.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 151,584 shares of company stock worth $185,411,484 over the last three months. 1.37% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Jefferies Financial Group set a $1,500.00 target price on shares of Netflix and gave the company a “buy” rating in a research report on Friday, July 18th. Rosenblatt Securities upped their price objective on Netflix from $1,514.00 to $1,515.00 and gave the company a “buy” rating in a report on Friday, July 18th. UBS Group restated a “market underperform” rating on shares of Netflix in a research report on Saturday, July 19th. Robert W. Baird boosted their price objective on shares of Netflix from $1,300.00 to $1,500.00 and gave the company an “outperform” rating in a report on Monday, July 21st. Finally, Moffett Nathanson reissued a “buy” rating and issued a $1,150.00 price target (up previously from $1,100.00) on shares of Netflix in a report on Friday, April 18th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,297.66.

About Netflix

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.