Chicago Capital LLC Sells 22,724 Shares of Netflix, Inc. (NASDAQ:NFLX)

Chicago Capital LLC trimmed its stake in Netflix, Inc. (NASDAQ:NFLX) by 25.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 65,061 shares of the Internet television network’s stock after selling 22,724 shares during the quarter. Netflix accounts for 1.7% of Chicago Capital LLC’s portfolio, making the stock its 22nd biggest holding. Chicago Capital LLC’s holdings in Netflix were worth $60,672,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of NFLX. Vanguard Group Inc. lifted its stake in shares of Netflix by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 37,488,005 shares of the Internet television network’s stock worth $33,413,809,000 after buying an additional 171,712 shares in the last quarter. FMR LLC boosted its stake in Netflix by 1.8% during the 4th quarter. FMR LLC now owns 20,887,090 shares of the Internet television network’s stock valued at $18,617,081,000 after purchasing an additional 375,234 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Netflix by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 9,323,952 shares of the Internet television network’s stock worth $8,287,823,000 after purchasing an additional 175,596 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Netflix by 109,524.3% in the first quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network’s stock worth $8,239,576,000 after purchasing an additional 8,827,662 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Netflix in the fourth quarter worth $5,019,087,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Chairman Reed Hastings sold 25,360 shares of Netflix stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $921.15, for a total value of $23,360,364.00. Following the sale, the chairman now directly owns 394 shares of the company’s stock, valued at approximately $362,933.10. The trade was a 98.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jay C. Hoag sold 32,515 shares of the stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $1,101.97, for a total value of $35,830,554.55. Following the transaction, the director now directly owns 79,040 shares of the company’s stock, valued at approximately $87,099,708.80. The trade was a 29.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 185,140 shares of company stock worth $210,271,552. 1.37% of the stock is owned by insiders.

Netflix Stock Performance

NASDAQ NFLX opened at $1,225.35 on Tuesday. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. Netflix, Inc. has a twelve month low of $587.04 and a twelve month high of $1,262.81. The business has a 50-day moving average price of $1,127.47 and a 200-day moving average price of $1,003.32. The firm has a market cap of $521.47 billion, a price-to-earnings ratio of 61.79, a price-to-earnings-growth ratio of 2.12 and a beta of 1.59.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, topping 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 business had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $10.51 billion. During the same period in the prior year, the company posted $8.28 EPS. As a group, equities research analysts predict that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Pivotal Research lifted their price objective on Netflix from $1,250.00 to $1,350.00 and gave the stock a “buy” rating in a report on Monday, April 21st. BMO Capital Markets reaffirmed an “outperform” rating and set a $1,200.00 price target (up previously from $1,175.00) on shares of Netflix in a report on Friday, April 18th. Piper Sandler set a $1,150.00 price objective on shares of Netflix and gave the company an “overweight” rating in a report on Monday, April 21st. Needham & Company LLC restated a “buy” rating and set a $1,126.00 price objective on shares of Netflix in a research report on Thursday, April 17th. Finally, Barclays lifted their target price on shares of Netflix from $900.00 to $1,000.00 and gave the stock an “equal weight” rating in a research report on Monday, April 21st. Eleven investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $1,156.73.

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.