Lederer & Associates Investment Counsel CA Decreases Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Lederer & Associates Investment Counsel CA cut its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 6.9% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 1,944 shares of the Internet television network’s stock after selling 145 shares during the period. Netflix makes up approximately 1.3% of Lederer & Associates Investment Counsel CA’s holdings, making the stock its 25th largest holding. Lederer & Associates Investment Counsel CA’s holdings in Netflix were worth $1,813,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the company. Pathway Financial Advisers LLC increased its holdings in Netflix by 82.4% during the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock worth $27,000 after purchasing an additional 14 shares during the last quarter. Brown Shipley& Co Ltd bought a new stake in shares of Netflix in the fourth quarter worth $27,000. Transce3nd LLC acquired a new stake in Netflix in the fourth quarter valued at $32,000. Newton One Investments LLC bought a new position in Netflix during the 4th quarter valued at $34,000. Finally, Pineridge Advisors LLC boosted its stake in Netflix by 4,000.0% during the 4th quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock valued at $37,000 after acquiring an additional 40 shares during the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NFLX. JPMorgan Chase & Co. restated a “neutral” rating and issued a $1,220.00 target price (up previously from $1,150.00) on shares of Netflix in a research note on Monday, May 19th. Guggenheim reaffirmed a “buy” rating and set a $1,150.00 target price (up previously from $1,100.00) on shares of Netflix in a report on Friday, April 18th. Barclays boosted their price target on Netflix from $900.00 to $1,000.00 and gave the company an “equal weight” rating in a report on Monday, April 21st. KeyCorp lifted their price objective on shares of Netflix from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a report on Monday, April 21st. Finally, Cfra Research upgraded shares of Netflix to a “strong-buy” rating in a research note on Monday, April 28th. Eleven investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,102.79.

Netflix Trading Down 0.2%

Shares of NFLX stock opened at $1,208.55 on Thursday. The stock has a 50-day simple moving average of $1,050.92 and a 200 day simple moving average of $969.04. The stock has a market capitalization of $514.32 billion, a P/E ratio of 60.95, a P/E/G ratio of 2.12 and a beta of 1.58. Netflix, Inc. has a fifty-two week low of $587.04 and a fifty-two week high of $1,215.91. 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 (NASDAQ:NFLX) last released its earnings results 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. The business had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.51 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. During the same period in the previous year, the firm earned $8.28 EPS. On average, sell-side analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Bradford L. Smith sold 3,919 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $1,124.26, for a total value of $4,405,974.94. Following the completion of the sale, the director now owns 7,969 shares in the company, valued at approximately $8,959,227.94. This represents a 32.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Jeffrey William Karbowski sold 160 shares of Netflix stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $1,000.00, for a total transaction of $160,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 133,348 shares of company stock worth $139,087,908. Insiders own 1.37% of the company’s stock.

Netflix Company 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.