Netflix, Inc. (NASDAQ:NFLX) Stake Decreased by Webster Bank N. A.

Webster Bank N. A. lessened its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 14.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,693 shares of the Internet television network’s stock after selling 448 shares during the period. Webster Bank N. A.’s holdings in Netflix were worth $1,636,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in NFLX. Norges Bank bought a new stake in shares of Netflix during the fourth quarter valued at approximately $2,558,598,000. Wellington Management Group LLP increased its stake in shares of Netflix by 540.9% during the fourth 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 during the period. International Assets Investment Management LLC increased its stake in shares of Netflix by 15,039.1% during the fourth quarter. International Assets Investment Management LLC now owns 2,075,569 shares of the Internet television network’s stock valued at $1,010,553,000 after acquiring an additional 2,061,859 shares during the period. Jennison Associates LLC increased its stake in shares of Netflix by 40.6% during the fourth quarter. Jennison Associates LLC now owns 5,452,271 shares of the Internet television network’s stock valued at $2,654,602,000 after acquiring an additional 1,573,978 shares during the period. Finally, Global Assets Advisory LLC acquired a new position in shares of Netflix during the first quarter valued at approximately $436,514,000. Institutional investors own 80.93% of the company’s stock.

Insider Buying and Selling at Netflix

In other news, CEO Gregory K. Peters sold 1,278 shares of Netflix stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $593.81, for a total transaction of $758,889.18. Following the transaction, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at $7,772,972.90. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Gregory K. Peters sold 1,278 shares of Netflix stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $593.81, for a total transaction of $758,889.18. Following the transaction, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at $7,772,972.90. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Gregory K. Peters sold 4,783 shares of Netflix stock in a transaction on Friday, June 14th. The stock was sold at an average price of $675.00, for a total transaction of $3,228,525.00. Following the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at $8,835,750. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 69,425 shares of company stock valued at $41,919,791. 1.76% of the stock is currently owned by insiders.

Netflix Price Performance

Shares of NASDAQ NFLX traded down $9.46 during mid-day trading on Friday, hitting $674.88. 3,412,391 shares of the stock were exchanged, compared to its average volume of 2,746,538. Netflix, Inc. has a twelve month low of $344.73 and a twelve month high of $689.88. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.07 and a current ratio of 1.07. The stock’s fifty day simple moving average is $628.93 and its two-hundred day simple moving average is $583.49. The company has a market cap of $290.87 billion, a P/E ratio of 46.83, a PEG ratio of 1.48 and a beta of 1.26.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, April 18th. The Internet television network reported $5.28 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 analysts’ expectations of $9.28 billion. During the same period in the prior year, the firm earned $2.88 earnings per share. Netflix’s revenue was up 14.8% compared to the same quarter last year. As a group, analysts forecast that Netflix, Inc. will post 18.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on NFLX shares. Benchmark raised their price objective on shares of Netflix from $440.00 to $450.00 and gave the company a “sell” rating in a research note on Friday, May 17th. CICC Research began coverage on shares of Netflix in a research report on Thursday, May 2nd. They issued an “outperform” rating and a $650.00 price target on the stock. Oppenheimer restated an “outperform” rating and issued a $725.00 price target on shares of Netflix in a research report on Friday, April 19th. Guggenheim lifted their price target on shares of Netflix from $600.00 to $700.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Finally, Wedbush restated an “outperform” rating and issued a $725.00 price target on shares of Netflix in a research report on Monday, May 20th. One research 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 company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $633.53.

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.