New England Research & Management Inc. Sells 1,926 Shares of Netflix, Inc. (NASDAQ:NFLX)

New England Research & Management Inc. decreased its position in Netflix, Inc. (NASDAQ:NFLX) by 78.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 519 shares of the Internet television network’s stock after selling 1,926 shares during the period. New England Research & Management Inc.’s holdings in Netflix were worth $315,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Asio Capital LLC boosted its stake in Netflix by 0.8% in the 1st quarter. Asio Capital LLC now owns 8,686 shares of the Internet television network’s stock worth $5,275,000 after purchasing an additional 68 shares in the last quarter. Harbour Capital Advisors LLC bought a new position in Netflix in the 1st quarter worth about $257,000. AMF Tjanstepension AB boosted its stake in Netflix by 143.4% in the 1st quarter. AMF Tjanstepension AB now owns 137,819 shares of the Internet television network’s stock worth $83,702,000 after purchasing an additional 81,208 shares in the last quarter. Register Financial Advisors LLC boosted its stake in Netflix by 31.8% in the 1st quarter. Register Financial Advisors LLC now owns 680 shares of the Internet television network’s stock worth $413,000 after purchasing an additional 164 shares in the last quarter. Finally, Capital Asset Advisory Services LLC bought a new position in Netflix during the 1st quarter valued at about $232,000. Institutional investors own 80.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on NFLX shares. KeyCorp upped their target price on shares of Netflix from $705.00 to $707.00 and gave the company an “overweight” rating in a research note on Thursday, June 13th. Piper Sandler upped their target price on shares of Netflix from $550.00 to $600.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. JPMorgan Chase & Co. upped their target price on shares of Netflix from $610.00 to $650.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Canaccord Genuity Group restated a “hold” rating and set a $585.00 target price (down previously from $720.00) on shares of Netflix in a research note on Friday, April 19th. Finally, Evercore ISI upped their target price on shares of Netflix from $650.00 to $700.00 and gave the company an “outperform” rating in a research note on Tuesday, May 28th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $633.53.

Insider Activity at Netflix

In related news, CEO Gregory K. Peters sold 4,783 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at $8,835,750. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Gregory K. Peters sold 4,783 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $675.00, for a total value of $3,228,525.00. Following the completion of the sale, the chief executive officer now directly owns 13,090 shares in the company, valued at $8,835,750. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Reed Hastings sold 20,566 shares of the firm’s stock in a transaction 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 completion of the sale, the chairman now owns 28 shares of the company’s stock, valued at $17,091.76. 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 corporate insiders.

Netflix Trading Down 1.4 %

NFLX stock opened at $674.88 on Friday. The firm has a fifty day moving average price of $628.93 and a 200 day moving average price of $584.34. Netflix, Inc. has a fifty-two week low of $344.73 and a fifty-two week 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 firm has a market cap of $290.87 billion, a PE ratio of 46.83, a price-to-earnings-growth ratio of 1.46 and a beta of 1.26.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share for the quarter, beating analysts’ consensus estimates of $4.51 by $0.77. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The firm had revenue of $9.37 billion during the quarter, compared to analyst estimates of $9.28 billion. During the same period last year, the firm posted $2.88 earnings per share. Netflix’s revenue for the quarter was up 14.8% compared to the same quarter last year. Sell-side analysts anticipate that Netflix, Inc. will post 18.31 earnings per share for the current fiscal year.

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.