Portside Wealth Group LLC Sells 2,773 Shares of Netflix, Inc. (NASDAQ:NFLX)

Portside Wealth Group LLC lowered its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 26.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,781 shares of the Internet television network’s stock after selling 2,773 shares during the period. Netflix comprises about 1.2% of Portside Wealth Group LLC’s portfolio, making the stock its 13th biggest position. Portside Wealth Group LLC’s holdings in Netflix were worth $7,256,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. West Michigan Advisors LLC grew its position in shares of Netflix by 1.3% in the 4th quarter. West Michigan Advisors LLC now owns 776 shares of the Internet television network’s stock valued at $692,000 after buying an additional 10 shares during the last quarter. Warwick Investment Management Inc. boosted its position in shares of Netflix by 3.5% during the 4th quarter. Warwick Investment Management Inc. now owns 298 shares of the Internet television network’s stock valued at $266,000 after purchasing an additional 10 shares in the last quarter. MRP Capital Investments LLC boosted its position in shares of Netflix by 1.0% during the 4th quarter. MRP Capital Investments LLC now owns 1,052 shares of the Internet television network’s stock valued at $938,000 after purchasing an additional 10 shares in the last quarter. Bedell Frazier Investment Counselling LLC boosted its position in shares of Netflix by 2.2% during the 4th quarter. Bedell Frazier Investment Counselling LLC now owns 462 shares of the Internet television network’s stock valued at $412,000 after purchasing an additional 10 shares in the last quarter. Finally, Mission Creek Capital Partners Inc. boosted its position in shares of Netflix by 0.3% during the 4th quarter. Mission Creek Capital Partners Inc. now owns 3,826 shares of the Internet television network’s stock valued at $3,410,000 after purchasing an additional 10 shares in the last quarter. Institutional investors own 80.93% of the company’s stock.

Insider Buying and Selling

In other Netflix news, CEO Gregory K. Peters sold 2,027 shares of the firm’s stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $1,141.51, for a total value of $2,313,840.77. Following the completion of the transaction, the chief executive officer now owns 12,781 shares in the company, valued at $14,589,639.31. This trade represents a 13.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Jeffrey William Karbowski sold 160 shares of the firm’s stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $1,000.00, for a total value of $160,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 153,390 shares of company stock valued at $170,509,439. 1.37% of the stock is owned by insiders.

Netflix Trading Down 0.7%

Shares of Netflix stock opened at $1,241.47 on Monday. Netflix, Inc. has a 1 year low of $587.04 and a 1 year high of $1,262.81. The firm has a market cap of $528.33 billion, a PE ratio of 62.61, a P/E/G ratio of 2.12 and a beta of 1.59. The stock has a fifty day moving average price of $1,087.80 and a 200-day moving average price of $989.18. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.74 by $0.87. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The firm had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.51 billion. During the same period last year, the firm posted $8.28 EPS. Equities research analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently commented on NFLX. Pivotal Research upped their target price on Netflix from $1,250.00 to $1,350.00 and gave the company a “buy” rating in a research report on Monday, April 21st. Rosenblatt Securities upped their target price on Netflix from $1,494.00 to $1,514.00 and gave the stock a “buy” rating in a research report on Monday, April 21st. KeyCorp upped their target price on Netflix from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a research report on Monday, April 21st. Guggenheim reaffirmed a “buy” rating and set a $1,150.00 target price (up from $1,100.00) on shares of Netflix in a research report on Friday, April 18th. Finally, Macquarie upped their target price on Netflix from $1,150.00 to $1,200.00 and gave the stock an “outperform” rating in a research report on Monday, April 21st. Eleven analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Netflix currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,149.91.

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.