Westbourne Investment Advisors Inc. Sells 119 Shares of Netflix, Inc. (NASDAQ:NFLX)

Westbourne Investment Advisors Inc. lessened its stake in Netflix, Inc. (NASDAQ:NFLX) by 1.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 9,156 shares of the Internet television network’s stock after selling 119 shares during the period. Netflix comprises 1.8% of Westbourne Investment Advisors Inc.’s investment portfolio, making the stock its 23rd biggest position. Westbourne Investment Advisors Inc.’s holdings in Netflix were worth $4,458,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Netflix by 13.9% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 197 shares of the Internet television network’s stock worth $87,000 after acquiring an additional 24 shares during the last quarter. Tiemann Investment Advisors LLC lifted its position in Netflix by 2.0% during the 2nd quarter. Tiemann Investment Advisors LLC now owns 1,252 shares of the Internet television network’s stock valued at $551,000 after purchasing an additional 25 shares during the period. Key Financial Inc lifted its position in Netflix by 14.4% during the 3rd quarter. Key Financial Inc now owns 199 shares of the Internet television network’s stock valued at $75,000 after purchasing an additional 25 shares during the period. Lee Financial Co boosted its stake in shares of Netflix by 18.2% in the 3rd quarter. Lee Financial Co now owns 162 shares of the Internet television network’s stock valued at $61,000 after purchasing an additional 25 shares during the last quarter. Finally, Bartlett & CO. Wealth Management LLC grew its position in shares of Netflix by 9.3% during the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 295 shares of the Internet television network’s stock worth $145,000 after buying an additional 25 shares during the period. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Stock Down 1.5 %

Shares of NASDAQ:NFLX traded down $9.22 during trading on Thursday, hitting $604.31. 1,906,674 shares of the company were exchanged, compared to its average volume of 4,521,545. Netflix, Inc. has a fifty-two week low of $315.62 and a fifty-two week high of $634.39. The stock has a market cap of $261.52 billion, a price-to-earnings ratio of 50.53, a P/E/G ratio of 1.71 and a beta of 1.22. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.69. The firm has a fifty day moving average price of $579.15 and a two-hundred day moving average price of $486.82.

Netflix (NASDAQ:NFLX) last issued its earnings results on Tuesday, January 23rd. The Internet television network reported $2.11 earnings per share for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.09). The firm had revenue of $8.83 billion for the quarter, compared to analyst estimates of $8.72 billion. Netflix had a return on equity of 24.76% and a net margin of 16.04%. Netflix’s quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.12 earnings per share. As a group, research analysts anticipate that Netflix, Inc. will post 17.01 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. DZ Bank upgraded shares of Netflix from a “hold” rating to a “buy” rating and set a $600.00 price objective on the stock in a report on Thursday, January 25th. Deutsche Bank Aktiengesellschaft cut Netflix from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $460.00 to $525.00 in a research note on Wednesday, January 24th. JPMorgan Chase & Co. upped their price objective on Netflix from $510.00 to $610.00 and gave the company an “overweight” rating in a report on Wednesday, January 24th. Jefferies Financial Group raised their target price on Netflix from $580.00 to $700.00 and gave the stock a “buy” rating in a report on Tuesday, March 12th. Finally, KeyCorp upped their price target on Netflix from $580.00 to $705.00 and gave the company an “overweight” rating in a research note on Wednesday, March 20th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $583.18.

Insider Activity

In other news, Chairman Reed Hastings sold 25,998 shares of Netflix stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $470.51, for a total transaction of $12,232,318.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Theodore A. Sarandos sold 68,957 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $561.33, for a total value of $38,707,632.81. Following the transaction, the chief executive officer now owns 1,278 shares of the company’s stock, valued at $717,379.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Reed Hastings sold 25,998 shares of Netflix stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $470.51, for a total value of $12,232,318.98. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 273,767 shares of company stock valued at $151,298,232. 2.45% of the stock is owned by company insiders.

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.