Netflix, Inc. (NASDAQ:NFLX) Holdings Trimmed by Grandfield & Dodd LLC

Grandfield & Dodd LLC trimmed its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 13.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 780 shares of the Internet television network’s stock after selling 125 shares during the period. Grandfield & Dodd LLC’s holdings in Netflix were worth $474,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital World Investors grew its position in Netflix by 0.7% during the 4th quarter. Capital World Investors now owns 11,744,636 shares of the Internet television network’s stock worth $5,718,265,000 after purchasing an additional 78,320 shares in the last quarter. Jennison Associates LLC grew its position in Netflix by 17.0% during the 1st quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock worth $3,875,655,000 after purchasing an additional 929,193 shares in the last quarter. Norges Bank purchased a new position in Netflix during the 4th quarter worth approximately $2,558,598,000. Fisher Asset Management LLC grew its holdings in shares of Netflix by 1.9% during the 4th quarter. Fisher Asset Management LLC now owns 4,121,104 shares of the Internet television network’s stock valued at $2,006,483,000 after acquiring an additional 78,298 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Netflix by 540.9% during the 4th quarter. Wellington Management Group LLP now owns 3,878,785 shares of the Internet television network’s stock valued at $1,888,503,000 after acquiring an additional 3,273,592 shares in the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Netflix Price Performance

NASDAQ:NFLX traded down $24.90 during mid-day trading on Thursday, hitting $652.75. The company’s stock had a trading volume of 5,107,258 shares, compared to its average volume of 3,908,513. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $281.34 billion, a price-to-earnings ratio of 45.30, a P/E/G ratio of 1.48 and a beta of 1.27. Netflix, Inc. has a fifty-two week low of $344.73 and a fifty-two week high of $697.49. The stock has a fifty day moving average of $650.34 and a 200-day moving average of $595.84.

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

Wall Street Analyst Weigh In

NFLX has been the topic of several research analyst reports. Canaccord Genuity Group cut shares of Netflix from a “buy” rating to a “hold” rating and lowered their price target for the company from $720.00 to $585.00 in a report on Friday, April 19th. TD Cowen boosted their price target on shares of Netflix from $725.00 to $775.00 and gave the company a “buy” rating in a report on Tuesday. Jefferies Financial Group restated a “buy” rating and set a $655.00 price target on shares of Netflix in a report on Wednesday, May 15th. Wells Fargo & Company boosted their price target on shares of Netflix from $650.00 to $726.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Finally, Pivotal Research boosted their price target on shares of Netflix from $765.00 to $800.00 and gave the company a “buy” rating in a report on Friday, April 19th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $639.57.

Insider Activity

In other news, CFO Spencer Adam Neumann sold 564 shares of the stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $613.08, for a total transaction of $345,777.12. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Anne M. Sweeney sold 633 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $560.00, for a total value of $354,480.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Spencer Adam Neumann sold 564 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $613.08, for a total transaction of $345,777.12. The disclosure for this sale can be found here. Insiders have sold 71,385 shares of company stock valued at $44,469,351 over the last three months. 1.76% of the stock is owned by 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.