Acas LLC Sells 31 Shares of Netflix, Inc. (NASDAQ:NFLX)

Acas LLC decreased its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 3.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 859 shares of the Internet television network’s stock after selling 31 shares during the period. Acas LLC’s holdings in Netflix were worth $418,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of NFLX. Summit Global Investments grew its stake in Netflix by 29.0% in the 3rd quarter. Summit Global Investments now owns 2,064 shares of the Internet television network’s stock worth $779,000 after acquiring an additional 464 shares in the last quarter. Douglas Lane & Associates LLC increased its stake in shares of Netflix by 12.5% in the third quarter. Douglas Lane & Associates LLC now owns 559 shares of the Internet television network’s stock worth $211,000 after acquiring an additional 62 shares during the period. Capital Investment Advisors LLC grew its position in Netflix by 5.2% during the third quarter. Capital Investment Advisors LLC now owns 1,284 shares of the Internet television network’s stock valued at $485,000 after buying an additional 63 shares during the period. Montecito Bank & Trust grew its position in shares of Netflix by 56.3% in the third quarter. Montecito Bank & Trust now owns 800 shares of the Internet television network’s stock valued at $302,000 after purchasing an additional 288 shares during the period. Finally, Fifth Third Wealth Advisors LLC grew its position in shares of Netflix by 12.7% in the third quarter. Fifth Third Wealth Advisors LLC now owns 886 shares of the Internet television network’s stock valued at $335,000 after purchasing an additional 100 shares during the period. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Trading Down 0.1 %

NFLX traded down $0.76 on Thursday, hitting $554.36. 1,079,342 shares of the company were exchanged, compared to its average volume of 4,482,318. The firm has a fifty day simple moving average of $605.56 and a two-hundred day simple moving average of $517.91. The stock has a market capitalization of $238.87 billion, a PE ratio of 38.52, a price-to-earnings-growth ratio of 1.41 and a beta of 1.22. Netflix, Inc. has a 12 month low of $315.62 and a 12 month high of $639.00. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.12 and a current ratio of 1.07.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share for the quarter, topping 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 business had revenue of $9.37 billion for the quarter, compared to analyst estimates of $9.28 billion. During the same period last year, the company posted $2.88 EPS. The business’s revenue was up 14.8% on a year-over-year basis. Sell-side analysts expect that Netflix, Inc. will post 18.09 earnings per share for the current year.

Insider Buying and Selling

In other Netflix news, CEO Theodore A. Sarandos sold 68,957 shares of the stock in a transaction on Friday, February 9th. The shares were sold at an average price of $561.33, for a total value of $38,707,632.81. Following the completion of the sale, the chief executive officer now directly owns 1,278 shares of the company’s stock, valued at approximately $717,379.74. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Gregory K. Peters sold 5,533 shares of Netflix stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $575.00, for a total transaction of $3,181,475.00. Following the sale, the chief executive officer now owns 13,090 shares of the company’s stock, valued at approximately $7,526,750. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Theodore A. Sarandos sold 68,957 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $561.33, for a total value of $38,707,632.81. Following the sale, the chief executive officer now owns 1,278 shares in the company, valued at approximately $717,379.74. The disclosure for this sale can be found here. Insiders have sold 160,106 shares of company stock valued at $92,729,716 in the last quarter. Company insiders own 2.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on NFLX shares. Benchmark reaffirmed a “sell” rating and set a $440.00 target price on shares of Netflix in a research note on Thursday, April 18th. KeyCorp boosted their price target on shares of Netflix from $580.00 to $705.00 and gave the stock an “overweight” rating in a report on Wednesday, March 20th. Wedbush restated an “outperform” rating and set a $725.00 price objective on shares of Netflix in a research report on Friday, April 19th. StockNews.com upgraded shares of Netflix from a “hold” rating to a “buy” rating in a research report on Monday, February 26th. Finally, Canaccord Genuity Group reissued a “hold” rating and issued a $585.00 price objective (down from $720.00) on shares of Netflix in a research note on Friday, April 19th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $630.58.

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.