Angeles Investment Advisors LLC reduced its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 12.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,019 shares of the Internet television network’s stock after selling 144 shares during the quarter. Angeles Investment Advisors LLC’s holdings in Netflix were worth $532,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Cigna Investments Inc. New boosted its stake in Netflix by 3.1% during the 1st quarter. Cigna Investments Inc. New now owns 15,934 shares of the Internet television network’s stock valued at $8,312,000 after acquiring an additional 475 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Netflix by 4.0% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 123,278 shares of the Internet television network’s stock valued at $64,309,000 after buying an additional 4,781 shares during the period. Smith Asset Management Group LP boosted its position in shares of Netflix by 38.3% during the 1st quarter. Smith Asset Management Group LP now owns 11,696 shares of the Internet television network’s stock valued at $6,101,000 after purchasing an additional 3,236 shares in the last quarter. Morningstar Investment Services LLC boosted its position in shares of Netflix by 4.4% during the 1st quarter. Morningstar Investment Services LLC now owns 122,701 shares of the Internet television network’s stock valued at $62,993,000 after purchasing an additional 5,204 shares in the last quarter. Finally, Peregrine Asset Advisers Inc. boosted its holdings in shares of Netflix by 281.7% in the first quarter. Peregrine Asset Advisers Inc. now owns 3,909 shares of the Internet television network’s stock worth $2,039,000 after buying an additional 2,885 shares during the period. Institutional investors own 79.75% of the company’s stock.
Shares of NFLX traded down $3.54 during mid-day trading on Thursday, reaching $510.09. 76,659 shares of the company were exchanged, compared to its average volume of 3,300,341. Netflix, Inc. has a 52 week low of $458.60 and a 52 week high of $593.29. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.27 and a quick ratio of 1.27. The company has a market capitalization of $226.17 billion, a PE ratio of 53.23, a PEG ratio of 1.65 and a beta of 0.74. The stock has a 50 day simple moving average of $511.07.
In other Netflix news, Director Jay C. Hoag sold 2,639 shares of Netflix stock in a transaction that occurred on Tuesday, May 11th. The stock was sold at an average price of $491.30, for a total value of $1,296,540.70. Following the completion of the sale, the director now directly owns 1,309 shares in the company, valued at $643,111.70. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 3.40% of the stock is owned by company insiders.
Several equities analysts recently weighed in on NFLX shares. Cowen cut their price objective on shares of Netflix from $675.00 to $650.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 21st. UBS Group boosted their target price on shares of Netflix from $600.00 to $620.00 and gave the company a “buy” rating in a research note on Thursday, July 15th. Canaccord Genuity reduced their target price on shares of Netflix from $670.00 to $650.00 and set a “buy” rating on the stock in a research note on Wednesday, April 21st. Jefferies Financial Group initiated coverage on Netflix in a report on Wednesday. They issued a “buy” rating and a $620.00 price target for the company. Finally, Wedbush reaffirmed an “underperform” rating and issued a $342.00 price target on shares of Netflix in a report on Wednesday. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty-seven have issued a buy rating to the stock. Netflix currently has a consensus rating of “Buy” and a consensus target price of $610.23.
Netflix, Inc operates as a streaming entertainment service company. The firm provides subscription service streaming movies and television episodes over the Internet and sending DVDs by mail. It operates through the following segments: Domestic Streaming, International Streaming and Domestic DVD. The Domestic Streaming segment derives revenues from monthly membership fees for services consisting of streaming content to its members in the United States.
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