Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Latitude Advisors LLC

Latitude Advisors LLC reduced its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 5.1% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 685 shares of the Internet television network’s stock after selling 37 shares during the quarter. Latitude Advisors LLC’s holdings in Netflix were worth $638,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in NFLX. Halbert Hargrove Global Advisors LLC raised its stake in shares of Netflix by 100.0% in the first quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network’s stock worth $25,000 after purchasing an additional 13 shares during the last quarter. Brown Shipley& Co Ltd purchased a new stake in Netflix in the fourth quarter valued at approximately $27,000. Transce3nd LLC acquired a new position in Netflix in the 4th quarter worth approximately $32,000. Copia Wealth Management purchased a new position in Netflix during the 4th quarter worth approximately $37,000. Finally, Barnes Dennig Private Wealth Management LLC purchased a new position in Netflix during the 1st quarter worth approximately $42,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on NFLX shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $1,126.00 price objective on shares of Netflix in a report on Thursday, April 17th. Loop Capital reaffirmed a “hold” rating on shares of Netflix in a report on Monday, March 24th. Barclays increased their price target on Netflix from $900.00 to $1,000.00 and gave the stock an “equal weight” rating in a research report on Monday, April 21st. 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 report on Friday, April 18th. Finally, Wells Fargo & Company upped their target price on Netflix from $1,222.00 to $1,500.00 and gave the stock an “overweight” rating in a research note on Friday, June 20th. Eleven investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,182.58.

Netflix Stock Down 0.7%

Shares of NFLX opened at $1,284.86 on Thursday. The stock has a 50 day moving average price of $1,200.03 and a 200 day moving average price of $1,031.42. Netflix, Inc. has a one year low of $587.04 and a one year high of $1,341.15. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.20 and a current ratio of 1.20. The stock has a market capitalization of $546.80 billion, a price-to-earnings ratio of 60.72, a PEG ratio of 2.50 and a beta of 1.59.

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

Insiders Place Their Bets

In other Netflix news, CFO Spencer Adam Neumann sold 2,601 shares of the company’s stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $1,307.22, for a total value of $3,400,079.22. Following the completion of the sale, the chief financial officer directly owned 3,691 shares in the company, valued at $4,824,949.02. This represents a 41.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Reed Hastings sold 9,673 shares of Netflix stock in a transaction 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 transaction, the director owned 394 shares in the company, valued at approximately $523,669.34. This represents a 96.09% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 186,723 shares of company stock valued at $223,307,201. Insiders own 1.37% of the company’s stock.

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.