Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Live Oak Investment Partners

Live Oak Investment Partners cut its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 2.4% in the 1st quarter, Holdings Channel reports. The institutional investor owned 3,065 shares of the Internet television network’s stock after selling 75 shares during the quarter. Netflix accounts for about 2.3% of Live Oak Investment Partners’ portfolio, making the stock its 10th largest position. Live Oak Investment Partners’ holdings in Netflix were worth $2,858,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Netflix by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 37,488,005 shares of the Internet television network’s stock worth $33,413,809,000 after purchasing an additional 171,712 shares during the last quarter. FMR LLC grew its stake in shares of Netflix by 1.8% in the fourth quarter. FMR LLC now owns 20,887,090 shares of the Internet television network’s stock worth $18,617,081,000 after purchasing an additional 375,234 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Netflix by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 9,323,952 shares of the Internet television network’s stock worth $8,287,823,000 after purchasing an additional 175,596 shares during the last quarter. GAMMA Investing LLC grew 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. Finally, Norges Bank bought a new stake in shares of Netflix in the fourth quarter worth $5,019,087,000. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Netflix Trading Up 2.0%

NFLX opened at $1,279.11 on Wednesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.20 and a quick ratio of 1.20. Netflix, Inc. has a fifty-two week low of $587.04 and a fifty-two week high of $1,282.57. The firm has a market capitalization of $544.35 billion, a PE ratio of 60.45, a P/E/G ratio of 2.43 and a beta of 1.59. The company’s 50-day moving average is $1,163.30 and its 200 day moving average is $1,016.26.

Netflix (NASDAQ:NFLX) last posted its earnings results 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. Netflix had a net margin of 23.07% and a return on equity of 39.61%. The company had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.51 billion. During the same quarter in the prior year, the business posted $8.28 EPS. As a group, research analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Analyst Ratings Changes

NFLX has been the topic of several analyst reports. BMO Capital Markets reissued an “outperform” rating and issued a $1,200.00 price objective (up previously from $1,175.00) on shares of Netflix in a research note on Friday, April 18th. Morgan Stanley lifted their price objective on Netflix from $1,150.00 to $1,200.00 and gave the stock an “overweight” rating in a research report on Monday, April 21st. Loop Capital restated a “hold” rating on shares of Netflix in a research report on Monday, March 24th. JPMorgan Chase & Co. restated a “neutral” rating and set a $1,220.00 target price (up previously from $1,150.00) on shares of Netflix in a research report on Monday, May 19th. Finally, Guggenheim restated a “buy” rating and set a $1,150.00 target price (up previously 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 given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,172.73.

Insider Buying and Selling

In other Netflix news, Director Jay C. Hoag sold 31,750 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $1,252.35, for a total value of $39,762,112.50. Following the completion of the sale, the director now owns 63,040 shares in the company, valued at approximately $78,948,144. This trade represents a 33.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Reed Hastings sold 26,977 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $1,133.05, for a total transaction of $30,566,289.85. Following the completion of the sale, the director now owns 394 shares of the company’s stock, valued at approximately $446,421.70. This trade represents a 98.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 184,660 shares of company stock worth $209,802,025 in the last quarter. Insiders own 1.37% of the company’s stock.

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.