Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Cresset Asset Management LLC

Cresset Asset Management LLC trimmed its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 8.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,113 shares of the Internet television network’s stock after selling 1,506 shares during the quarter. Cresset Asset Management LLC’s holdings in Netflix were worth $15,026,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of NFLX. Halbert Hargrove Global Advisors LLC boosted its holdings in 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 period. Brown Shipley& Co Ltd purchased a new position in Netflix during the 4th quarter valued at about $27,000. Transce3nd LLC purchased a new position in Netflix during the 4th quarter valued at about $32,000. Copia Wealth Management purchased a new position in Netflix during the 4th quarter valued at about $37,000. Finally, Stuart Chaussee & Associates Inc. boosted its holdings in Netflix by 4,500.0% during the 4th quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network’s stock valued at $41,000 after acquiring an additional 45 shares during the period. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NFLX has been the subject of a number of research analyst reports. Wedbush restated an “outperform” rating and set a $1,500.00 target price (up from $1,400.00) on shares of Netflix in a report on Monday, July 14th. Sanford C. Bernstein boosted their price objective on Netflix from $1,200.00 to $1,390.00 and gave the stock an “outperform” rating in a research report on Thursday, July 17th. Seaport Res Ptn downgraded Netflix from a “strong-buy” rating to a “hold” rating in a research report on Sunday, July 6th. Benchmark reissued a “hold” rating on shares of Netflix in a research report on Monday, April 21st. Finally, JPMorgan Chase & Co. boosted their price objective on Netflix from $1,230.00 to $1,300.00 and gave the stock a “neutral” rating in a research report on Friday, July 18th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Netflix has an average rating of “Moderate Buy” and a consensus price target of $1,297.66.

Netflix Trading Up 0.7%

NFLX opened at $1,238.95 on Friday. The firm has a market cap of $526.47 billion, a price-to-earnings ratio of 52.79, a price-to-earnings-growth ratio of 2.09 and a beta of 1.59. Netflix, Inc. has a 52 week low of $660.80 and a 52 week high of $1,341.15. The business’s 50 day moving average is $1,231.23 and its two-hundred day moving average is $1,103.00. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.58.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.07 by $0.12. The business had revenue of $11.08 billion for the quarter, compared to analyst estimates of $11.04 billion. Netflix had a return on equity of 42.50% and a net margin of 24.58%. The company’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.88 earnings per share. On average, research analysts predict that Netflix, Inc. will post 24.58 EPS for the current year.

Insider Buying and Selling

In other news, CEO Gregory K. Peters sold 2,026 shares of the business’s stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $1,157.44, for a total value of $2,344,973.44. Following the transaction, the chief executive officer owned 12,781 shares of the company’s stock, valued at approximately $14,793,240.64. The trade was a 13.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Reed Hastings sold 26,933 shares of the business’s stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $1,211.66, for a total value of $32,633,638.78. Following the completion of the transaction, the director directly owned 394 shares in the company, valued at approximately $477,394.04. The trade was a 98.56% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 146,307 shares of company stock worth $179,443,809. 1.37% of the stock is currently owned by company insiders.

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.