Netflix, Inc. (NASDAQ:NFLX) is RiverPark Advisors LLC’s 9th Largest Position

RiverPark Advisors LLC trimmed its holdings in Netflix, Inc. (NASDAQ:NFLX) by 12.0% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 5,298 shares of the Internet television network’s stock after selling 725 shares during the period. Netflix makes up about 2.6% of RiverPark Advisors LLC’s holdings, making the stock its 9th largest holding. RiverPark Advisors LLC’s holdings in Netflix were worth $3,218,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Spartan Planning & Wealth Management purchased a new position in shares of Netflix during the third quarter worth $26,000. Valued Wealth Advisors LLC boosted its position in shares of Netflix by 80.0% during the first quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock worth $27,000 after buying an additional 20 shares during the period. VitalStone Financial LLC boosted its position 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 period. Beaird Harris Wealth Management LLC boosted its position 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 period. Finally, Scarborough Advisors LLC purchased a new position in shares of Netflix during the fourth quarter worth $32,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Netflix Stock Performance

NFLX remained flat at $685.74 during trading on Tuesday. The company’s stock had a trading volume of 2,596,425 shares, compared to its average volume of 3,909,421. Netflix, Inc. has a 12 month low of $344.73 and a 12 month high of $697.49. The firm has a 50-day moving average of $646.07 and a two-hundred day moving average of $594.86. The company has a market capitalization of $295.55 billion, a P/E ratio of 47.59, a price-to-earnings-growth ratio of 1.49 and a beta of 1.27. 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 (NASDAQ:NFLX) last announced its quarterly earnings data 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 return on equity of 29.62% and a net margin of 18.42%. The company had revenue of $9.37 billion for the quarter, compared to analyst estimates of $9.28 billion. During the same quarter in the previous year, the company earned $2.88 EPS. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. Equities analysts predict that Netflix, Inc. will post 18.31 earnings per share for the current year.

Insider Buying and Selling at Netflix

In other news, insider David A. Hyman sold 268 shares of Netflix stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $593.62, for a total transaction of $159,090.16. Following the completion of the sale, the insider now directly owns 31,610 shares in the company, valued at approximately $18,764,328.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider David A. Hyman sold 268 shares of Netflix stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $593.62, for a total transaction of $159,090.16. Following the completion of the sale, the insider now directly owns 31,610 shares in the company, valued at approximately $18,764,328.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Anne M. Sweeney sold 633 shares of Netflix stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $560.00, for a total transaction of $354,480.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 71,385 shares of company stock valued at $44,469,351. 1.76% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on NFLX shares. Oppenheimer reiterated an “outperform” rating and issued a $725.00 price objective on shares of Netflix in a research note on Friday, April 19th. Rosenblatt Securities increased their price objective on Netflix from $540.00 to $554.00 and gave the company a “neutral” rating in a research note on Friday, May 17th. Benchmark increased their price objective on Netflix from $440.00 to $450.00 and gave the company a “sell” rating in a research note on Friday, May 17th. CICC Research started coverage on Netflix in a research note on Thursday, May 2nd. They issued an “outperform” rating and a $650.00 price objective on the stock. Finally, Morgan Stanley increased their price objective on Netflix from $600.00 to $700.00 and gave the company an “overweight” rating in a research note on Friday, April 12th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $638.77.

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.