Netflix, Inc. (NASDAQ:NFLX) Shares Sold by West Paces Advisors Inc.

West Paces Advisors Inc. trimmed its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 10.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 334 shares of the Internet television network’s stock after selling 37 shares during the period. West Paces Advisors Inc.’s holdings in Netflix were worth $203,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. KFA Private Wealth Group LLC lifted its holdings in Netflix by 1.9% in the 4th quarter. KFA Private Wealth Group LLC now owns 958 shares of the Internet television network’s stock valued at $466,000 after acquiring an additional 18 shares during the last quarter. Legacy Capital Group California Inc. lifted its stake in Netflix by 0.6% during the fourth quarter. Legacy Capital Group California Inc. now owns 2,833 shares of the Internet television network’s stock valued at $1,379,000 after buying an additional 18 shares in the last quarter. Founders Financial Alliance LLC lifted its stake in Netflix by 2.4% during the fourth quarter. Founders Financial Alliance LLC now owns 757 shares of the Internet television network’s stock valued at $369,000 after buying an additional 18 shares in the last quarter. Addison Advisors LLC lifted its stake in Netflix by 7.8% during the fourth quarter. Addison Advisors LLC now owns 276 shares of the Internet television network’s stock valued at $134,000 after buying an additional 20 shares in the last quarter. Finally, Regent Peak Wealth Advisors LLC lifted its stake in Netflix by 1.6% during the fourth quarter. Regent Peak Wealth Advisors LLC now owns 1,304 shares of the Internet television network’s stock valued at $635,000 after buying an additional 21 shares in the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Price Performance

Netflix stock traded up $5.28 during mid-day trading on Wednesday, hitting $677.69. 3,543,472 shares of the company were exchanged, compared to its average volume of 4,009,780. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.62. The business has a fifty day moving average of $623.78 and a 200 day moving average of $580.61. Netflix, Inc. has a 1-year low of $344.73 and a 1-year high of $689.88. The company has a market capitalization of $292.08 billion, a PE ratio of 47.02, a price-to-earnings-growth ratio of 1.45 and a beta of 1.26.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.51 by $0.77. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The firm had revenue of $9.37 billion during the quarter, compared to analyst estimates of $9.28 billion. During the same period in the prior year, the company posted $2.88 earnings per share. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. As a group, sell-side analysts expect that Netflix, Inc. will post 18.31 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Loop Capital upped their price objective on shares of Netflix from $700.00 to $750.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. Bank of America upped their target price on Netflix from $650.00 to $700.00 and gave the company a “buy” rating in a report on Friday, April 19th. Guggenheim increased their price objective on Netflix from $600.00 to $700.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. KeyCorp increased their price objective on Netflix from $705.00 to $707.00 and gave the stock an “overweight” rating in a report on Thursday, June 13th. Finally, Wells Fargo & Company increased their price objective on Netflix from $650.00 to $726.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $633.53.

Insiders Place Their Bets

In other news, insider David A. Hyman sold 268 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $593.62, for a total value of $159,090.16. Following the completion of the sale, the insider now directly owns 31,610 shares in the company, valued at $18,764,328.20. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, Chairman Reed Hastings sold 20,566 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $610.42, for a total value of $12,553,897.72. Following the completion of the sale, the chairman now directly owns 28 shares in the company, valued at $17,091.76. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider David A. Hyman sold 268 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $593.62, for a total value of $159,090.16. Following the completion of the sale, the insider now owns 31,610 shares of the company’s stock, valued at $18,764,328.20. The disclosure for this sale can be found here. Insiders sold 69,425 shares of company stock worth $41,919,791 over the last three months. 1.76% of the stock is currently owned by corporate 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.