Howard Capital Management Inc. Sells 1,786 Shares of Netflix, Inc. (NASDAQ:NFLX)

Howard Capital Management Inc. trimmed its stake in Netflix, Inc. (NASDAQ:NFLX) by 13.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,130 shares of the Internet television network’s stock after selling 1,786 shares during the period. Howard Capital Management Inc.’s holdings in Netflix were worth $10,379,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC grew its holdings in shares of Netflix by 109,524.3% during 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. Massachusetts Financial Services Co. MA grew its holdings in shares of Netflix by 318.9% during 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. Northern Trust Corp grew its holdings in shares of Netflix by 14.3% during the fourth quarter. Northern Trust Corp now owns 4,574,006 shares of the Internet television network’s stock worth $4,076,903,000 after purchasing an additional 570,674 shares during the last quarter. Two Sigma Advisers LP grew its holdings in shares of Netflix by 935.7% during the fourth quarter. Two Sigma Advisers LP now owns 461,900 shares of the Internet television network’s stock worth $411,701,000 after purchasing an additional 417,300 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Netflix during the fourth quarter worth $355,076,000. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NFLX has been the topic of several research analyst reports. Loop Capital reissued a “hold” rating on shares of Netflix in a research note on Tuesday, July 15th. Benchmark reiterated a “hold” rating on shares of Netflix in a report on Monday, April 21st. Wedbush reiterated an “outperform” rating and issued a $1,500.00 price target (up previously from $1,400.00) on shares of Netflix in a report on Monday, July 14th. Seaport Res Ptn cut Netflix from a “strong-buy” rating to a “hold” rating in a report on Sunday, July 6th. Finally, TD Cowen raised their price target on Netflix from $1,440.00 to $1,450.00 and gave the company a “buy” rating in a report on Friday, July 18th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,297.66.

Insiders Place Their Bets

In related news, Director Reed Hastings sold 9,673 shares of the company’s stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $1,329.11, for a total value of $12,856,481.03. Following the sale, the director directly owned 394 shares in the company, valued at $523,669.34. This represents a 96.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Ann Mather sold 1,090 shares of the company’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $1,250.00, for a total transaction of $1,362,500.00. The disclosure for this sale can be found here. Insiders sold a total of 153,408 shares of company stock valued at $186,614,540 over the last three months. Insiders own 1.37% of the company’s stock.

Netflix Stock Performance

NASDAQ:NFLX opened at $1,168.74 on Wednesday. The stock has a market cap of $496.63 billion, a P/E ratio of 49.80, a price-to-earnings-growth ratio of 1.98 and a beta of 1.59. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.58. The stock’s 50-day moving average is $1,235.63 and its 200-day moving average is $1,077.14. Netflix, Inc. has a 1-year low of $587.04 and a 1-year high of $1,341.15.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, July 17th. The Internet television network reported $7.19 earnings per share for the quarter, topping the consensus estimate of $7.07 by $0.12. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The company had revenue of $11.08 billion for the quarter, compared to analysts’ expectations of $11.04 billion. During the same quarter in the previous year, the firm posted $4.88 earnings per share. Netflix’s revenue for the quarter was up 15.9% on a year-over-year basis. Equities research analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current year.

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.