AMI Asset Management Corp Reduces Stock Position in Netflix, Inc. (NASDAQ:NFLX)

AMI Asset Management Corp lowered its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 3.1% during the first quarter, Holdings Channel.com reports. The firm owned 81,634 shares of the Internet television network’s stock after selling 2,600 shares during the quarter. Netflix makes up about 4.5% of AMI Asset Management Corp’s investment portfolio, making the stock its 4th biggest position. AMI Asset Management Corp’s holdings in Netflix were worth $76,126,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Halbert Hargrove Global Advisors LLC raised its stake in Netflix by 100.0% in the first quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network’s stock valued at $25,000 after buying an additional 13 shares during the last quarter. Brown Shipley& Co Ltd purchased a new position in shares of Netflix in the fourth quarter worth about $27,000. Transce3nd LLC purchased a new position in shares of Netflix in the fourth quarter worth about $32,000. Copia Wealth Management purchased a new position in shares of Netflix in the fourth quarter worth about $37,000. Finally, Stuart Chaussee & Associates Inc. raised its stake in shares of Netflix by 4,500.0% in the fourth quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network’s stock worth $41,000 after purchasing an additional 45 shares during the last quarter. Institutional investors own 80.93% of the company’s stock.

Insiders Place Their Bets

In other Netflix news, insider Cletus R. Willems sold 298 shares of the business’s stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $1,138.00, for a total transaction of $339,124.00. Following the transaction, the insider now owns 31,610 shares of the company’s stock, valued at approximately $35,972,180. The trade was a 0.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jay C. Hoag sold 32,515 shares of the company’s stock in a transaction 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 completion of the transaction, the director now directly 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 90 days, insiders have sold 184,660 shares of company stock valued at $209,802,025. Insiders own 1.37% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on NFLX shares. Robert W. Baird raised their price objective on Netflix from $1,200.00 to $1,300.00 and gave the stock an “outperform” rating in a research note on Friday, May 16th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $1,220.00 price target (up from $1,150.00) on shares of Netflix in a research report on Monday, May 19th. Citigroup reiterated a “neutral” rating and set a $1,250.00 price target (up from $1,020.00) on shares of Netflix in a research report on Thursday, May 29th. Cfra Research upgraded Netflix to a “strong-buy” rating in a research report on Monday, April 28th. Finally, Guggenheim reiterated a “buy” rating and set a $1,150.00 price target (up from $1,100.00) on shares of Netflix in a research report on Friday, April 18th. Eleven investment 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 stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $1,172.73.

Netflix Stock Performance

NASDAQ NFLX opened at $1,275.25 on Thursday. The stock’s fifty day moving average is $1,169.57 and its two-hundred day moving average is $1,018.04. The firm has a market capitalization of $542.71 billion, a P/E ratio of 60.27, a price-to-earnings-growth ratio of 2.47 and a beta of 1.59. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.20 and a current ratio of 1.20. Netflix, Inc. has a fifty-two week low of $587.04 and a fifty-two week high of $1,298.00.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data 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 in the previous year, the company posted $8.28 earnings per share. On average, research analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current year.

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.