Lazari Capital Management Inc. Cuts Stake in Netflix, Inc. (NASDAQ:NFLX)

Lazari Capital Management Inc. lowered its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 0.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,874 shares of the Internet television network’s stock after selling 16 shares during the period. Netflix comprises 1.5% of Lazari Capital Management Inc.’s investment portfolio, making the stock its 12th biggest position. Lazari Capital Management Inc.’s holdings in Netflix were worth $3,613,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Halbert Hargrove Global Advisors LLC boosted its position in Netflix by 100.0% during the first quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network’s stock worth $25,000 after acquiring an additional 13 shares during the last quarter. Brown Shipley& Co Ltd acquired a new position in Netflix during the fourth quarter worth about $27,000. Transce3nd LLC acquired a new position in Netflix during the fourth quarter worth about $32,000. Copia Wealth Management acquired a new position in Netflix during the fourth quarter worth about $37,000. Finally, Stuart Chaussee & Associates Inc. boosted its position in Netflix by 4,500.0% during the fourth quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network’s stock worth $41,000 after acquiring an additional 45 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Insider Buying and Selling

In other Netflix news, CAO Jeffrey William Karbowski sold 160 shares of the stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $1,000.00, for a total value of $160,000.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Spencer Adam Neumann sold 2,601 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $921.72, for a total transaction of $2,397,393.72. Following the completion of the sale, the chief financial officer now directly owns 3,691 shares in the company, valued at approximately $3,402,068.52. This represents a 41.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 184,660 shares of company stock valued at $209,802,025 in the last ninety days. Company insiders own 1.37% of the company’s stock.

Netflix Price Performance

Shares of NFLX opened at $1,253.54 on Tuesday. Netflix, Inc. has a fifty-two week low of $587.04 and a fifty-two week high of $1,262.81. The firm’s 50 day moving average price is $1,157.24 and its 200 day moving average price is $1,014.42. The company has a market cap of $533.47 billion, a P/E ratio of 59.24, a PEG ratio of 2.38 and a beta of 1.59. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.58.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, topping the consensus estimate of $5.74 by $0.87. Netflix had a net margin of 23.07% and a return on equity of 39.61%. The firm had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.51 billion. During the same period in the prior year, the firm earned $8.28 EPS. On average, research analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on NFLX shares. Evercore ISI restated an “outperform” rating on shares of Netflix in a research report on Thursday, May 15th. Morgan Stanley boosted their price target on shares of Netflix from $1,150.00 to $1,200.00 and gave the stock an “overweight” rating in a research report on Monday, April 21st. Jefferies Financial Group lifted their target price on shares of Netflix from $1,200.00 to $1,400.00 and gave the stock a “buy” rating in a research note on Tuesday, June 3rd. KeyCorp boosted their target price on shares of Netflix from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a report on Monday, April 21st. Finally, Bank of America boosted their target price on shares of Netflix from $1,175.00 to $1,490.00 and gave the company a “buy” rating in a report on Friday, May 30th. Eleven equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Netflix currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,172.73.

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.