Argus Investors Counsel Inc. Sells 1,043 Shares of Netflix, Inc. (NASDAQ:NFLX)

Argus Investors Counsel Inc. cut its holdings in shares of Netflix, Inc. (NASDAQ:NFLXFree Report) by 25.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,016 shares of the Internet television network’s stock after selling 1,043 shares during the quarter. Netflix comprises 1.1% of Argus Investors Counsel Inc.’s investment portfolio, making the stock its 27th largest holding. Argus Investors Counsel Inc.’s holdings in Netflix were worth $1,832,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of NFLX. Authentikos Wealth Advisory LLC acquired a new position in shares of Netflix during the third quarter worth approximately $25,000. Spartan Planning & Wealth Management acquired a new position in shares of Netflix during the third quarter worth approximately $26,000. VitalStone Financial LLC lifted its holdings in shares of Netflix by 933.3% during the fourth quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock worth $30,000 after buying an additional 56 shares during the last quarter. Beaird Harris Wealth Management LLC lifted its holdings in shares of Netflix by 1,550.0% during the fourth quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock worth $32,000 after buying an additional 62 shares during the last quarter. Finally, Scarborough Advisors LLC acquired a new position in shares of Netflix in the fourth quarter valued at $32,000. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on NFLX. Canaccord Genuity Group restated a “hold” rating and issued a $585.00 target price (down from $720.00) on shares of Netflix in a research note on Friday, April 19th. Canaccord Genuity Group lowered Netflix from a “buy” rating to a “hold” rating and cut their target price for the company from $720.00 to $585.00 in a research note on Friday, April 19th. UBS Group upped their target price on Netflix from $570.00 to $685.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. Wells Fargo & Company upped their target price on Netflix from $650.00 to $726.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Finally, Pivotal Research upped their target price on Netflix from $765.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, April 19th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $630.53.

Check Out Our Latest Research Report on Netflix

Netflix Trading Down 0.7 %

NFLX traded down $4.80 during midday trading on Thursday, reaching $635.67. 2,311,548 shares of the company were exchanged, compared to its average volume of 4,253,525. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.07 and a current ratio of 1.07. Netflix, Inc. has a one year low of $344.73 and a one year high of $650.88. The stock has a market capitalization of $273.97 billion, a P/E ratio of 44.11, a PEG ratio of 1.41 and a beta of 1.23. The stock’s 50-day simple moving average is $606.78 and its 200 day simple moving average is $547.45.

Netflix (NASDAQ:NFLXGet Free Report) last issued its earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.51 by $0.77. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The firm had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $9.28 billion. During the same quarter last year, the business earned $2.88 earnings per share. The company’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 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Chairman Reed Hastings sold 18,361 shares of Netflix stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $551.54, for a total transaction of $10,126,825.94. Following the transaction, the chairman now owns 28 shares in the company, valued at approximately $15,443.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Chairman Reed Hastings sold 18,361 shares of Netflix stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $551.54, for a total transaction of $10,126,825.94. Following the transaction, the chairman now owns 28 shares in the company, valued at approximately $15,443.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Spencer Adam Neumann sold 564 shares of Netflix stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $613.08, for a total value of $345,777.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 78,039 shares of company stock worth $46,401,083. Insiders own 1.76% of the company’s stock.

Netflix Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Netflix (NASDAQ:NFLX)

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