Timber Creek Capital Management LLC Sells 1,032 Shares of Netflix, Inc. (NASDAQ:NFLX)

Timber Creek Capital Management LLC reduced its position in Netflix, Inc. (NASDAQ:NFLX) by 26.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,857 shares of the Internet television network’s stock after selling 1,032 shares during the period. Timber Creek Capital Management LLC’s holdings in Netflix were worth $2,664,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Netflix by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 37,488,005 shares of the Internet television network’s stock valued at $33,413,809,000 after acquiring an additional 171,712 shares in the last quarter. FMR LLC increased its holdings in Netflix by 1.8% in the 4th quarter. FMR LLC now owns 20,887,090 shares of the Internet television network’s stock worth $18,617,081,000 after acquiring an additional 375,234 shares during the last quarter. Geode Capital Management LLC grew its holdings in Netflix by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 9,323,952 shares of the Internet television network’s stock valued at $8,287,823,000 after buying an additional 175,596 shares in the last quarter. GAMMA Investing LLC grew its holdings in Netflix by 109,524.3% during the 1st quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network’s stock valued at $8,239,576,000 after buying an additional 8,827,662 shares in the last quarter. Finally, Norges Bank purchased a new position in Netflix during the 4th quarter valued at about $5,019,087,000. 80.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NFLX. Oppenheimer boosted their target price on Netflix from $1,200.00 to $1,425.00 and gave the stock an “outperform” rating in a research report on Thursday, June 12th. Citigroup reiterated a “neutral” rating and set a $1,250.00 price objective (up previously from $1,020.00) on shares of Netflix in a research note on Thursday, May 29th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $1,220.00 target price (up previously from $1,150.00) on shares of Netflix in a research note on Monday, May 19th. Canaccord Genuity Group increased their price objective on Netflix from $1,380.00 to $1,525.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, KeyCorp increased their price objective on Netflix from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a research report on Monday, April 21st. Eleven analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,182.58.

Netflix Price Performance

Shares of NASDAQ:NFLX opened at $1,295.24 on Friday. The firm has a market cap of $551.21 billion, a price-to-earnings ratio of 61.21, a P/E/G ratio of 2.48 and a beta of 1.59. Netflix, Inc. has a 1 year low of $587.04 and a 1 year high of $1,341.15. The business has a fifty day simple moving average of $1,204.00 and a 200 day simple moving average of $1,034.00. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.58.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data 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. The firm had revenue of $10.54 billion during the quarter, compared to analysts’ expectations 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 prior year, the company posted $8.28 earnings per share. As a group, sell-side analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insider Transactions at Netflix

In other Netflix news, Director Ann Mather sold 1,090 shares of the business’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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Strive Masiyiwa sold 290 shares of the business’s stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $1,336.54, for a total transaction of $387,596.60. The disclosure for this sale can be found here. Insiders sold a total of 186,723 shares of company stock valued at $223,307,201 in the last three months. 1.37% of the stock is currently owned by company insiders.

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.