Altman Advisors Inc. Sells 52 Shares of Netflix, Inc. (NASDAQ:NFLX)

Altman Advisors Inc. lessened its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 1.8% in the first quarter, HoldingsChannel.com reports. The fund owned 2,912 shares of the Internet television network’s stock after selling 52 shares during the period. Netflix accounts for about 1.2% of Altman Advisors Inc.’s investment portfolio, making the stock its 19th largest holding. Altman Advisors Inc.’s holdings in Netflix were worth $2,716,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Halbert Hargrove Global Advisors LLC boosted its position in shares of Netflix by 100.0% during the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network’s stock valued at $25,000 after acquiring an additional 13 shares during the last quarter. Brown Shipley& Co Ltd bought a new stake in shares of Netflix during the 4th quarter valued at about $27,000. Transce3nd LLC bought a new stake in shares of Netflix during the 4th quarter valued at about $32,000. Copia Wealth Management bought a new stake in shares of Netflix during the 4th quarter valued at about $37,000. Finally, Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Netflix during the 1st quarter valued at about $42,000. Institutional investors own 80.93% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on NFLX. Wells Fargo & Company boosted their target price on Netflix from $1,222.00 to $1,500.00 and gave the stock an “overweight” rating in a research report on Friday, June 20th. FBN Securities began coverage on Netflix in a research report on Thursday, March 27th. They issued an “outperform” rating and a $1,165.00 target price for the company. Jefferies Financial Group boosted their target price on Netflix from $1,200.00 to $1,400.00 and gave the stock a “buy” rating in a research report on Tuesday, June 3rd. JPMorgan Chase & Co. boosted their target price on Netflix from $1,220.00 to $1,230.00 and gave the stock a “neutral” rating in a research report on Friday, July 11th. Finally, Wolfe Research set a $1,340.00 target price on Netflix and gave the stock an “outperform” rating in a research report on Friday, May 16th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $1,227.39.

Insider Activity at Netflix

In other news, CFO Spencer Adam Neumann sold 2,601 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $1,307.22, for a total value of $3,400,079.22. Following the sale, the chief financial officer directly owned 3,691 shares of the company’s stock, valued at approximately $4,824,949.02. This represents a 41.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Strive Masiyiwa sold 290 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $1,336.54, for a total value of $387,596.60. The disclosure for this sale can be found here. Insiders sold a total of 186,723 shares of company stock valued at $223,307,201 over the last ninety days. Insiders own 1.37% of the company’s stock.

Netflix Price Performance

NFLX opened at $1,260.27 on Wednesday. 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 52-week low of $587.04 and a 52-week high of $1,341.15. The stock has a market capitalization of $536.33 billion, a PE ratio of 59.56, a price-to-earnings-growth ratio of 2.28 and a beta of 1.59. The stock’s 50 day moving average price is $1,226.71 and its 200-day moving average price is $1,054.65.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, beating the consensus estimate of $5.74 by $0.87. Netflix had a return on equity of 39.61% and a net margin of 23.07%. The company had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.51 billion. During the same period in the previous year, the company posted $8.28 earnings per share. On average, equities research analysts predict that Netflix, Inc. will post 24.58 EPS 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.