First Foundation Advisors Sells 95 Shares of Netflix, Inc. (NASDAQ:NFLX)

First Foundation Advisors cut its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 3.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,404 shares of the Internet television network’s stock after selling 95 shares during the quarter. First Foundation Advisors’ holdings in Netflix were worth $1,460,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Netflix during the fourth quarter worth $2,558,598,000. Wellington Management Group LLP raised its position in shares of 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 acquiring an additional 3,273,592 shares in the last quarter. International Assets Investment Management LLC lifted its stake in shares of 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 valued at $1,010,553,000 after purchasing an additional 2,061,859 shares during the period. Jennison Associates LLC boosted its position in shares of Netflix by 40.6% during the 4th quarter. Jennison Associates LLC now owns 5,452,271 shares of the Internet television network’s stock valued at $2,654,602,000 after purchasing an additional 1,573,978 shares in the last quarter. Finally, Global Assets Advisory LLC acquired a new stake in Netflix during the first quarter worth approximately $436,514,000. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on NFLX. BMO Capital Markets restated an “outperform” rating and set a $713.00 price target (up from $638.00) on shares of Netflix in a report on Wednesday, April 17th. JPMorgan Chase & Co. boosted their target price on shares of Netflix from $650.00 to $750.00 and gave the company an “overweight” rating in a research report on Friday, July 12th. Rosenblatt Securities raised their price target on shares of Netflix from $554.00 to $635.00 and gave the stock a “neutral” rating in a report on Friday. KeyCorp lifted their price target on shares of Netflix from $707.00 to $735.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Finally, Wells Fargo & Company increased their price objective on shares of Netflix from $650.00 to $726.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat.com, Netflix currently has a consensus rating of “Moderate Buy” and a consensus target price of $680.76.

Insider Activity

In related news, CEO Gregory K. Peters sold 4,783 shares of Netflix stock in a transaction that occurred on 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 owns 13,090 shares of the company’s stock, valued at approximately $8,835,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Gregory K. Peters sold 4,783 shares of the 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 completion of the transaction, the chief executive officer now owns 13,090 shares in the company, valued at approximately $8,835,750. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Reed Hastings sold 22,526 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $670.49, for a total value of $15,103,457.74. Following the completion of the sale, the chairman now owns 57 shares in the company, valued at $38,217.93. The disclosure for this sale can be found here. Insiders sold 71,385 shares of company stock valued at $44,469,351 in the last three months. Company insiders own 1.76% of the company’s stock.

Netflix Stock Performance

Shares of Netflix stock traded down $9.70 during trading hours on Friday, hitting $633.34. 9,815,631 shares of the company’s stock traded hands, compared to its average volume of 3,096,936. The stock has a market capitalization of $272.97 billion, a price-to-earnings ratio of 43.95, a PEG ratio of 1.37 and a beta of 1.27. Netflix, Inc. has a 12-month low of $344.73 and a 12-month high of $697.49. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 1.07. The company has a fifty day simple moving average of $655.73 and a 200-day simple moving average of $603.37.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, beating the consensus estimate of $4.74 by $0.14. The company had revenue of $9.56 billion during the quarter, compared to analyst estimates of $9.53 billion. Netflix had a net margin of 19.54% and a return on equity of 33.22%. The firm’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.29 earnings per share. Equities research analysts anticipate that Netflix, Inc. will post 18.99 EPS for the current fiscal year.

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.