New England Research & Management Inc. Lowers Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

New England Research & Management Inc. reduced its stake in Netflix, Inc. (NASDAQ:NFLX) by 78.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 519 shares of the Internet television network’s stock after selling 1,926 shares during the quarter. New England Research & Management Inc.’s holdings in Netflix were worth $315,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Indiana Trust & Investment Management CO grew its stake in shares of Netflix by 112.0% in the 1st quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock valued at $32,000 after purchasing an additional 28 shares during the last quarter. VitalStone Financial LLC grew its stake in shares of Netflix by 933.3% in the 4th quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock valued at $30,000 after purchasing an additional 56 shares during the last quarter. Scarborough Advisors LLC purchased a new position in shares of Netflix in the 4th quarter valued at approximately $32,000. Beaird Harris Wealth Management LLC grew its stake in shares of Netflix by 1,550.0% in the 4th quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock valued at $32,000 after purchasing an additional 62 shares during the last quarter. Finally, Spartan Planning & Wealth Management purchased a new position in shares of Netflix in the 3rd quarter valued at approximately $26,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider David A. Hyman sold 268 shares of Netflix 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 owns 31,610 shares of the company’s stock, valued at $18,764,328.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Netflix news, insider David A. Hyman sold 268 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $593.62, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Gregory K. Peters sold 4,783 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $675.00, for a total value of $3,228,525.00. Following the sale, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at approximately $8,835,750. The disclosure for this sale can be found here. Insiders sold a total of 69,425 shares of company stock valued at $41,919,791 over the last quarter. Company insiders own 1.76% of the company’s stock.

Netflix Price Performance

Shares of NASDAQ:NFLX opened at $674.88 on Friday. The company has a market cap of $290.87 billion, a P/E ratio of 46.83, a P/E/G ratio of 1.46 and a beta of 1.26. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.62. Netflix, Inc. has a 52 week low of $344.73 and a 52 week high of $689.88. The business has a fifty day simple moving average of $628.93 and a 200-day simple moving average of $584.34.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 EPS for the quarter, beating analysts’ consensus estimates of $4.51 by $0.77. The business had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $9.28 billion. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The business’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.88 earnings per share. Equities research analysts forecast that Netflix, Inc. will post 18.31 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently commented on NFLX shares. Evercore ISI raised their price target on Netflix from $650.00 to $700.00 and gave the company an “outperform” rating in a report on Tuesday, May 28th. Citigroup raised their price target on Netflix from $555.00 to $660.00 and gave the company a “neutral” rating in a report on Monday, March 25th. TD Cowen raised their price target on Netflix from $600.00 to $725.00 and gave the company a “buy” rating in a report on Monday, April 8th. BMO Capital Markets reissued an “outperform” rating and issued a $713.00 price target (up from $638.00) on shares of Netflix in a report on Wednesday, April 17th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $700.00 price target on shares of Netflix in a report on Monday, June 17th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $633.53.

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.