Crestwood Advisors Group LLC Sells 194 Shares of Netflix, Inc. (NASDAQ:NFLX)

Crestwood Advisors Group LLC reduced its stake in Netflix, Inc. (NASDAQ:NFLX) by 16.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 986 shares of the Internet television network’s stock after selling 194 shares during the quarter. Crestwood Advisors Group LLC’s holdings in Netflix were worth $341,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Baldrige Asset Management LLC raised its holdings in Netflix by 156.3% in the first quarter. Baldrige Asset Management LLC now owns 82 shares of the Internet television network’s stock worth $28,000 after buying an additional 50 shares during the last quarter. Barrett & Company Inc. bought a new position in Netflix in the 1st quarter valued at approximately $29,000. Retirement Group LLC lifted its position in Netflix by 52.6% in the 1st quarter. Retirement Group LLC now owns 87 shares of the Internet television network’s stock valued at $30,000 after acquiring an additional 30 shares in the last quarter. Manchester Capital Management LLC boosted its stake in Netflix by 8,700.0% during the 1st quarter. Manchester Capital Management LLC now owns 88 shares of the Internet television network’s stock valued at $30,000 after purchasing an additional 87 shares during the last quarter. Finally, Silicon Valley Capital Partners increased its holdings in shares of Netflix by 80.0% in the 1st quarter. Silicon Valley Capital Partners now owns 90 shares of the Internet television network’s stock worth $31,000 after purchasing an additional 40 shares in the last quarter. Hedge funds and other institutional investors own 79.95% of the company’s stock.

Netflix Price Performance

Shares of Netflix stock traded down $1.58 during trading on Wednesday, reaching $447.10. 696,113 shares of the stock traded hands, compared to its average volume of 7,032,847. Netflix, Inc. has a 52-week low of $211.73 and a 52-week high of $485.00. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.33 and a quick ratio of 1.33. The business has a fifty day simple moving average of $432.57 and a two-hundred day simple moving average of $378.96. The company has a market capitalization of $198.13 billion, a price-to-earnings ratio of 47.84, a P/E/G ratio of 1.46 and a beta of 1.29.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Wednesday, July 19th. The Internet television network reported $3.29 earnings per share for the quarter, beating the consensus estimate of $2.85 by $0.44. The business had revenue of $8.19 billion during the quarter, compared to analysts’ expectations of $8.29 billion. Netflix had a return on equity of 19.76% and a net margin of 13.22%. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter last year, the business posted $3.20 EPS. Sell-side analysts expect that Netflix, Inc. will post 11.92 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NFLX. Rosenblatt Securities upped their price target on Netflix from $358.00 to $400.00 and gave the company a “neutral” rating in a report on Thursday, July 20th. Robert W. Baird upgraded shares of Netflix from a “neutral” rating to an “outperform” rating and upped their target price for the company from $340.00 to $500.00 in a research note on Monday, July 24th. Needham & Company LLC reiterated a “hold” rating on shares of Netflix in a research note on Wednesday, July 26th. JPMorgan Chase & Co. increased their price objective on shares of Netflix from $495.00 to $505.00 and gave the company an “overweight” rating in a research report on Thursday, July 20th. Finally, Evercore ISI lifted their target price on shares of Netflix from $400.00 to $550.00 and gave the stock an “outperform” rating in a research report on Thursday, July 20th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $432.91.

Insider Activity at Netflix

In other Netflix news, Director Timothy M. Haley sold 1,022 shares of Netflix stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $450.19, for a total value of $460,094.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Chairman Reed Hastings sold 17,969 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $440.60, for a total value of $7,917,141.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Timothy M. Haley sold 1,022 shares of Netflix stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $450.19, for a total value of $460,094.18. The disclosure for this sale can be found here. Insiders have sold a total of 125,780 shares of company stock valued at $54,709,914 over the last 90 days. 2.45% of the stock is owned by corporate insiders.

Netflix Company Profile

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and mobile games across various genres and languages. The company provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, television set-top boxes, and mobile devices.