Netflix, Inc. (NASDAQ:NFLX) is Summit Place Financial Advisors LLC’s 8th Largest Position

Summit Place Financial Advisors LLC lessened its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 4.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,513 shares of the Internet television network’s stock after selling 231 shares during the quarter. Netflix makes up about 2.4% of Summit Place Financial Advisors LLC’s holdings, making the stock its 8th largest position. Summit Place Financial Advisors LLC’s holdings in Netflix were worth $4,209,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Janus Henderson Group PLC boosted its stake in shares of Netflix by 8.7% during the fourth quarter. Janus Henderson Group PLC now owns 1,377,081 shares of the Internet television network’s stock valued at $1,227,468,000 after acquiring an additional 110,432 shares during the last quarter. PharVision Advisers LLC acquired a new position in Netflix in the 4th quarter valued at about $873,000. New England Research & Management Inc. lifted its holdings in Netflix by 148.5% in the 1st quarter. New England Research & Management Inc. now owns 2,122 shares of the Internet television network’s stock valued at $1,979,000 after purchasing an additional 1,268 shares in the last quarter. First National Trust Co lifted its holdings in Netflix by 1.0% in the 4th quarter. First National Trust Co now owns 1,258 shares of the Internet television network’s stock valued at $1,121,000 after purchasing an additional 12 shares in the last quarter. Finally, Haven Private LLC acquired a new stake in shares of Netflix during the 4th quarter worth about $733,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Netflix Stock Performance

Shares of NFLX opened at $1,284.86 on Thursday. The stock has a market capitalization of $546.80 billion, a PE ratio of 60.72, a price-to-earnings-growth ratio of 2.50 and a beta of 1.59. The business’s fifty day moving average price is $1,200.03 and its 200 day moving average price is $1,031.42. 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 12-month low of $587.04 and a 12-month high of $1,341.15.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) 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 the consensus estimate of $10.51 billion. During the same period last year, the firm posted $8.28 EPS. Equities research analysts forecast that Netflix, Inc. will post 24.58 EPS for the current year.

Insider Buying and Selling

In related news, Director Reed Hastings sold 26,977 shares of the firm’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $1,133.05, for a total value of $30,566,289.85. Following the sale, the director owned 394 shares of the company’s stock, valued at approximately $446,421.70. This trade represents a 98.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Bradford L. Smith sold 3,919 shares of the company’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $1,124.26, for a total value of $4,405,974.94. Following the transaction, the director owned 7,969 shares of the company’s stock, valued at approximately $8,959,227.94. The trade was a 32.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 186,723 shares of company stock valued at $223,307,201. 1.37% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Robert W. Baird boosted their price objective on shares of Netflix from $1,200.00 to $1,300.00 and gave the company an “outperform” rating in a research report on Friday, May 16th. The Goldman Sachs Group lifted their target price on shares of Netflix from $1,000.00 to $1,140.00 and gave the stock a “neutral” rating in a research note on Wednesday. Wells Fargo & Company boosted their price target on Netflix from $1,222.00 to $1,500.00 and gave the company an “overweight” rating in a report on Friday, June 20th. KeyCorp increased their price target on Netflix from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a research note on Monday, April 21st. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $1,200.00 price objective (up previously from $1,175.00) on shares of Netflix in a research report on Friday, April 18th. Eleven analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,182.58.

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.