Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Symphony Financial Ltd. Co.

Symphony Financial Ltd. Co. cut its position in Netflix, Inc. (NASDAQ:NFLX) by 69.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 988 shares of the Internet television network’s stock after selling 2,273 shares during the quarter. Symphony Financial Ltd. Co.’s holdings in Netflix were worth $969,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in NFLX. Vanguard Group Inc. lifted its position in Netflix by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 37,488,005 shares of the Internet television network’s stock worth $33,413,809,000 after acquiring an additional 171,712 shares during the period. FMR LLC raised its stake in shares of Netflix by 1.8% during the 4th quarter. FMR LLC now owns 20,887,090 shares of the Internet television network’s stock worth $18,617,081,000 after buying an additional 375,234 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Netflix by 1.9% during 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 buying an additional 175,596 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of 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. Finally, Norges Bank purchased a new position in shares of Netflix during the 4th quarter worth approximately $5,019,087,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NFLX. Citigroup reissued a “neutral” rating and set a $1,250.00 target price (up from $1,020.00) on shares of Netflix in a research note on Thursday, May 29th. Moffett Nathanson reissued a “buy” rating and set a $1,150.00 target price (up from $1,100.00) on shares of Netflix in a research note on Friday, April 18th. Morgan Stanley raised their price objective on Netflix from $1,150.00 to $1,200.00 and gave the company an “overweight” rating in a research note on Monday, April 21st. Loop Capital reaffirmed a “hold” rating on shares of Netflix in a research note on Monday, March 24th. Finally, Oppenheimer raised their price objective on Netflix from $1,200.00 to $1,425.00 and gave the company an “outperform” rating in a research note on Thursday, June 12th. Eleven analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,172.73.

Insider Transactions at Netflix

In other Netflix news, Chairman Reed Hastings sold 25,360 shares of the firm’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $921.15, for a total transaction of $23,360,364.00. Following the transaction, the chairman now owns 394 shares in the company, valued at $362,933.10. This trade represents a 98.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jay C. Hoag sold 32,515 shares of the firm’s stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $1,101.97, for a total value of $35,830,554.55. Following the transaction, the director now owns 79,040 shares in the company, valued at approximately $87,099,708.80. This trade represents a 29.15% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 184,660 shares of company stock worth $209,802,025. Company insiders own 1.37% of the company’s stock.

Netflix Price Performance

Shares of NASDAQ NFLX opened at $1,253.54 on Tuesday. The firm has a market cap of $533.47 billion, a P/E ratio of 59.24, a price-to-earnings-growth ratio of 2.38 and a beta of 1.59. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.58. Netflix, Inc. has a 1-year low of $587.04 and a 1-year high of $1,262.81. The business’s 50 day moving average is $1,157.24 and its 200-day moving average is $1,014.42.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, topping analysts’ consensus estimates of $5.74 by $0.87. The company had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.51 billion. Netflix had a return on equity of 39.61% and a net margin of 23.07%. During the same quarter last year, the company earned $8.28 earnings per share. Equities research analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current year.

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.