West Paces Advisors Inc. Sells 37 Shares of Netflix, Inc. (NASDAQ:NFLX)

West Paces Advisors Inc. lowered its position in Netflix, Inc. (NASDAQ:NFLX) by 10.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm 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 quarter.

Several other hedge funds also recently bought and sold shares of NFLX. Norges Bank purchased a new stake in Netflix in the 4th quarter worth $2,558,598,000. Wellington Management Group LLP lifted its stake in Netflix by 540.9% in the 4th quarter. Wellington Management Group LLP now owns 3,878,785 shares of the Internet television network’s stock worth $1,888,503,000 after purchasing an additional 3,273,592 shares in the last quarter. International Assets Investment Management LLC lifted its stake in Netflix by 15,039.1% in the 4th quarter. International Assets Investment Management LLC now owns 2,075,569 shares of the Internet television network’s stock worth $1,010,553,000 after purchasing an additional 2,061,859 shares in the last quarter. Jennison Associates LLC lifted its stake in Netflix by 40.6% in the 4th quarter. Jennison Associates LLC now owns 5,452,271 shares of the Internet television network’s stock worth $2,654,602,000 after purchasing an additional 1,573,978 shares in the last quarter. Finally, Global Assets Advisory LLC purchased a new stake in Netflix in the 1st quarter worth $436,514,000. Institutional investors own 80.93% of the company’s stock.

Netflix Stock Performance

NFLX stock traded up $5.28 during midday trading on Wednesday, hitting $677.69. 3,543,472 shares of the stock traded hands, compared to its average volume of 4,009,780. The stock’s fifty day simple moving average is $623.78 and its 200-day simple moving average is $580.61. Netflix, Inc. has a 1-year low of $344.73 and a 1-year high of $689.88. The firm has a market cap of $292.08 billion, a P/E ratio of 47.02, a PEG ratio of 1.45 and a beta of 1.26. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 1.07.

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

Insider Activity

In related news, Chairman Reed Hastings sold 20,566 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $610.42, for a total transaction of $12,553,897.72. Following the transaction, the chairman now directly owns 28 shares in the company, valued at $17,091.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Netflix news, Director Anne M. Sweeney sold 3,029 shares of Netflix stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $580.00, for a total transaction of $1,756,820.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Reed Hastings sold 20,566 shares of Netflix stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $610.42, for a total transaction of $12,553,897.72. Following the transaction, the chairman now directly owns 28 shares in the company, valued at $17,091.76. The disclosure for this sale can be found here. Insiders have sold a total of 69,425 shares of company stock worth $41,919,791 over the last 90 days. 1.76% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Rosenblatt Securities upped their target price on shares of Netflix from $540.00 to $554.00 and gave the company a “neutral” rating in a research report on Friday, May 17th. Sanford C. Bernstein upped their target price on shares of Netflix from $490.00 to $600.00 and gave the company a “market perform” rating in a research report on Friday, April 19th. Oppenheimer restated an “outperform” rating and set a $725.00 target price on shares of Netflix in a research report on Friday, April 19th. UBS Group increased their price objective on shares of Netflix from $570.00 to $685.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th. Finally, Bank of America increased their price objective on shares of Netflix from $650.00 to $700.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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.