Atticus Wealth Management LLC Cuts Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Atticus Wealth Management LLC trimmed its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 11.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 842 shares of the Internet television network’s stock after selling 109 shares during the quarter. Atticus Wealth Management LLC’s holdings in Netflix were worth $511,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of NFLX. Dark Forest Capital Management LP boosted its holdings in Netflix by 119.6% in the third quarter. Dark Forest Capital Management LP now owns 1,212 shares of the Internet television network’s stock valued at $458,000 after purchasing an additional 660 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Netflix by 12.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,161 shares of the Internet television network’s stock valued at $816,000 after buying an additional 232 shares during the period. CWA Asset Management Group LLC grew its position in shares of Netflix by 21.2% during the third quarter. CWA Asset Management Group LLC now owns 1,659 shares of the Internet television network’s stock worth $626,000 after buying an additional 290 shares in the last quarter. Corton Capital Inc. increased its stake in shares of Netflix by 18.3% during the third quarter. Corton Capital Inc. now owns 910 shares of the Internet television network’s stock worth $344,000 after buying an additional 141 shares during the period. Finally, Kinloch Capital LLC acquired a new stake in Netflix in the third quarter valued at approximately $255,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Price Performance

Shares of NASDAQ NFLX traded down $9.46 during trading on Friday, hitting $674.88. 3,412,391 shares of the company were exchanged, compared to its average volume of 2,746,538. 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, Inc. has a 1 year low of $344.73 and a 1 year high of $689.88. The company has a market cap of $290.87 billion, a price-to-earnings ratio of 46.83, a PEG ratio of 1.46 and a beta of 1.26. The firm’s fifty day moving average price is $628.93 and its 200 day moving average price is $584.34.

Netflix (NASDAQ:NFLX) last issued its earnings results 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 company had revenue of $9.37 billion for the quarter, compared to analyst estimates of $9.28 billion. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period in the prior year, the business posted $2.88 earnings per share. On average, sell-side analysts expect that Netflix, Inc. will post 18.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on the stock. CICC Research began coverage on shares of Netflix in a report on Thursday, May 2nd. They set an “outperform” rating and a $650.00 price target for the company. Rosenblatt Securities increased their target price on Netflix from $540.00 to $554.00 and gave the company a “neutral” rating in a report on Friday, May 17th. Morgan Stanley lifted their price target on Netflix from $600.00 to $700.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. Jefferies Financial Group reiterated a “buy” rating and issued a $655.00 price objective on shares of Netflix in a report on Wednesday, May 15th. Finally, Oppenheimer restated an “outperform” rating and set a $725.00 target price on shares of Netflix in a research note on Friday, April 19th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat, Netflix currently has a consensus rating of “Moderate Buy” and an average price target of $633.53.

Insider Buying and Selling

In other Netflix news, CEO Gregory K. Peters sold 1,278 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $593.81, for a total value of $758,889.18. Following the sale, the chief executive officer now owns 13,090 shares of the company’s stock, valued at $7,772,972.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Chairman Reed Hastings sold 20,566 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $610.42, for a total value of $12,553,897.72. Following the sale, the chairman now owns 28 shares of the company’s stock, valued at approximately $17,091.76. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Gregory K. Peters sold 1,278 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $593.81, for a total value of $758,889.18. Following the sale, the chief executive officer now owns 13,090 shares in the company, valued at approximately $7,772,972.90. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 69,425 shares of company stock valued at $41,919,791. 1.76% of the stock is owned by insiders.

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.