Profit Investment Management LLC Has $1.42 Million Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Profit Investment Management LLC reduced its holdings in Netflix, Inc. (NASDAQ:NFLX) by 3.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,227 shares of the Internet television network’s stock after selling 126 shares during the period. Profit Investment Management LLC’s holdings in Netflix were worth $1,421,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. David J Yvars Group purchased a new stake in Netflix in the 2nd quarter worth about $207,000. Czech National Bank lifted its stake in Netflix by 0.3% in the 2nd quarter. Czech National Bank now owns 52,624 shares of the Internet television network’s stock worth $23,180,000 after acquiring an additional 160 shares in the last quarter. Level Four Advisory Services LLC lifted its stake in Netflix by 2.0% in the 2nd quarter. Level Four Advisory Services LLC now owns 10,774 shares of the Internet television network’s stock worth $4,746,000 after acquiring an additional 216 shares in the last quarter. First Affirmative Financial Network purchased a new stake in Netflix in the 2nd quarter worth about $222,000. Finally, Pure Financial Advisors LLC lifted its stake in Netflix by 29.6% in the 2nd quarter. Pure Financial Advisors LLC now owns 1,444 shares of the Internet television network’s stock worth $636,000 after acquiring an additional 330 shares in the last quarter. 79.95% of the stock is owned by hedge funds and other institutional investors.

Netflix Price Performance

Shares of NFLX stock opened at $396.94 on Friday. The stock’s fifty day simple moving average is $430.91 and its 200 day simple moving average is $384.11. 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 firm has a market cap of $175.90 billion, a price-to-earnings ratio of 42.27, a P/E/G ratio of 1.33 and a beta of 1.29. Netflix, Inc. has a one year low of $211.73 and a one year high of $485.00.

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

Insider Activity at Netflix

In related news, Director Jay C. Hoag sold 943 shares of the business’s stock in a transaction on Thursday, July 13th. The stock was sold at an average price of $450.00, for a total value of $424,350.00. Following the sale, the director now owns 421,491 shares of the company’s stock, valued at approximately $189,670,950. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Netflix news, Director Jay C. Hoag sold 943 shares of Netflix stock in a transaction on Thursday, July 13th. The stock was sold at an average price of $450.00, for a total value of $424,350.00. Following the completion of the transaction, the director now owns 421,491 shares in the company, valued at approximately $189,670,950. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Theodore A. Sarandos sold 55,386 shares of Netflix stock in a transaction on Friday, August 4th. The shares were sold at an average price of $431.10, for a total value of $23,876,904.60. The disclosure for this sale can be found here. Insiders have sold a total of 125,377 shares of company stock valued at $54,547,674 in the last 90 days. 2.45% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on NFLX shares. KeyCorp reaffirmed a “sector weight” rating on shares of Netflix in a research note on Thursday, July 20th. Guggenheim reaffirmed a “buy” rating and set a $500.00 price target on shares of Netflix in a research note on Thursday, July 20th. Deutsche Bank Aktiengesellschaft raised their price target on Netflix from $410.00 to $475.00 and gave the stock a “buy” rating in a research note on Monday, July 17th. Wedbush raised their price objective on Netflix from $475.00 to $525.00 and gave the company an “outperform” rating in a research note on Thursday, July 20th. Finally, StockNews.com initiated coverage on Netflix in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $432.91.

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.