Echo45 Advisors LLC Decreases Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Echo45 Advisors LLC cut its holdings in Netflix, Inc. (NASDAQ:NFLX) by 7.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 281 shares of the Internet television network’s stock after selling 24 shares during the quarter. Echo45 Advisors LLC’s holdings in Netflix were worth $262,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. 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. Norges Bank purchased a new position in shares of Netflix in the fourth quarter worth about $5,019,087,000. Proficio Capital Partners LLC raised its stake in shares of Netflix by 123,836.7% in the fourth quarter. Proficio Capital Partners LLC now owns 1,925,977 shares of the Internet television network’s stock worth $1,716,662,000 after purchasing an additional 1,924,423 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Netflix by 59.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,301,098 shares of the Internet television network’s stock worth $2,051,016,000 after purchasing an additional 856,307 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Netflix by 318.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 976,924 shares of the Internet television network’s stock worth $870,752,000 after purchasing an additional 743,724 shares during the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Netflix news, Director Jay C. Hoag sold 31,750 shares of Netflix stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $1,252.35, for a total value of $39,762,112.50. Following the sale, the director now owns 63,040 shares in the company, valued at $78,948,144. The trade was a 33.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Jeffrey William Karbowski sold 480 shares of Netflix stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $978.18, for a total value of $469,526.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 185,140 shares of company stock worth $210,271,552. 1.37% of the stock is owned by corporate insiders.

Netflix Stock Performance

Shares of NASDAQ:NFLX opened at $1,219.88 on Thursday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. The business’s 50 day moving average price is $1,106.59 and its 200-day moving average price is $994.50. The firm has a market capitalization of $519.15 billion, a PE ratio of 61.52, a P/E/G ratio of 2.12 and a beta of 1.59. Netflix, Inc. has a 1 year low of $587.04 and a 1 year high of $1,262.81.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $10.51 billion. During the same quarter last year, the business posted $8.28 earnings per share. As a group, equities research analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Macquarie raised their price objective on Netflix from $1,150.00 to $1,200.00 and gave the stock an “outperform” rating in a research note on Monday, April 21st. Wedbush restated an “outperform” rating and issued a $1,200.00 price objective on shares of Netflix in a research note on Monday, May 5th. Morgan Stanley raised their price objective on Netflix from $1,150.00 to $1,200.00 and gave the stock an “overweight” rating in a research note on Monday, April 21st. Benchmark reaffirmed a “hold” rating on shares of Netflix in a report on Monday, April 21st. Finally, Robert W. Baird raised their target price on Netflix from $1,200.00 to $1,300.00 and gave the stock an “outperform” rating in a report on Friday, May 16th. Eleven research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,149.91.

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.