Quest Investment Management LLC Has $15.88 Million Stake in Netflix, Inc. (NASDAQ:NFLX)

Quest Investment Management LLC trimmed its stake in Netflix, Inc. (NASDAQ:NFLX) by 9.6% during the second quarter, HoldingsChannel.com reports. The fund owned 23,532 shares of the Internet television network’s stock after selling 2,501 shares during the quarter. Netflix accounts for about 1.8% of Quest Investment Management LLC’s holdings, making the stock its 21st largest position. Quest Investment Management LLC’s holdings in Netflix were worth $15,881,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Obermeyer Wood Investment Counsel Lllp grew its holdings in shares of Netflix by 2.8% in the 1st quarter. Obermeyer Wood Investment Counsel Lllp now owns 623 shares of the Internet television network’s stock worth $378,000 after purchasing an additional 17 shares during the last quarter. Private Portfolio Partners LLC grew its stake in Netflix by 1.7% during the first quarter. Private Portfolio Partners LLC now owns 1,042 shares of the Internet television network’s stock worth $633,000 after buying an additional 17 shares during the last quarter. FAS Wealth Partners Inc. increased its holdings in shares of Netflix by 1.5% during the second quarter. FAS Wealth Partners Inc. now owns 1,164 shares of the Internet television network’s stock worth $786,000 after buying an additional 17 shares in the last quarter. Founders Financial Alliance LLC raised its stake in shares of Netflix by 2.4% in the fourth quarter. Founders Financial Alliance LLC now owns 757 shares of the Internet television network’s stock valued at $369,000 after acquiring an additional 18 shares during the last quarter. Finally, Capital Advisors Ltd. LLC boosted its holdings in shares of Netflix by 4.6% in the 1st quarter. Capital Advisors Ltd. LLC now owns 411 shares of the Internet television network’s stock worth $250,000 after acquiring an additional 18 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on NFLX. China Renaissance started coverage on Netflix in a report on Thursday, September 5th. They set a “hold” rating and a $680.00 price target for the company. Guggenheim lifted their price target on Netflix from $700.00 to $735.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. UBS Group increased their price objective on shares of Netflix from $685.00 to $750.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Bank of America boosted their target price on shares of Netflix from $700.00 to $740.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Finally, Evercore ISI increased their price target on shares of Netflix from $710.00 to $750.00 and gave the company an “outperform” rating in a research note on Tuesday, August 27th. One 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’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $685.29.

Netflix Price Performance

Shares of NFLX opened at $701.03 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market capitalization of $302.14 billion, a PE ratio of 48.65, a P/E/G ratio of 1.40 and a beta of 1.26. The stock has a 50 day simple moving average of $663.00 and a 200 day simple moving average of $640.85. Netflix, Inc. has a 52-week low of $344.73 and a 52-week high of $715.66.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.74 by $0.14. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The company had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $9.53 billion. During the same quarter in the prior year, the firm earned $3.29 earnings per share. The firm’s revenue was up 16.8% compared to the same quarter last year. Sell-side analysts predict that Netflix, Inc. will post 19.08 EPS for the current fiscal year.

Insider Activity at Netflix

In other Netflix news, Director Leslie J. Kilgore sold 428 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $715.00, for a total transaction of $306,020.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Leslie J. Kilgore sold 428 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $715.00, for a total value of $306,020.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David A. Hyman sold 20,656 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the transaction, the insider now owns 31,610 shares in the company, valued at $19,128,159.30. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 197,226 shares of company stock valued at $129,858,692. Corporate insiders own 1.76% of the company’s stock.

Netflix 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.