Simmons Bank Cuts Stake in Netflix, Inc. (NASDAQ:NFLX)

Simmons Bank lowered its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 4.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 379 shares of the Internet television network’s stock after selling 16 shares during the quarter. Simmons Bank’s holdings in Netflix were worth $353,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. GAMMA Investing LLC boosted its stake in Netflix by 109,524.3% during the first quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network’s stock valued at $8,239,576,000 after buying an additional 8,827,662 shares during the last quarter. Norges Bank bought a new position in Netflix during the fourth quarter valued at approximately $5,019,087,000. Arrowstreet Capital Limited Partnership boosted its stake in Netflix by 59.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,301,098 shares of the Internet television network’s stock valued at $2,051,016,000 after buying an additional 856,307 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Netflix by 318.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 976,924 shares of the Internet television network’s stock valued at $870,752,000 after buying an additional 743,724 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in Netflix by 14.3% during the fourth quarter. Northern Trust Corp now owns 4,574,006 shares of the Internet television network’s stock valued at $4,076,903,000 after buying an additional 570,674 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Insider Buying and Selling

In other news, Director Jay C. Hoag sold 32,515 shares of Netflix stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $1,101.97, for a total value of $35,830,554.55. Following the transaction, the director directly owned 79,040 shares in the company, valued at approximately $87,099,708.80. This trade represents a 29.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Spencer Adam Neumann sold 2,601 shares of Netflix stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $1,132.38, for a total value of $2,945,320.38. Following the completion of the transaction, the chief financial officer owned 3,691 shares in the company, valued at $4,179,614.58. This represents a 41.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 186,723 shares of company stock valued at $223,307,201. 1.37% of the stock is owned by insiders.

Wall Street Analyst Weigh In

NFLX has been the subject of several analyst reports. Evercore ISI reaffirmed an “outperform” rating on shares of Netflix in a research note on Thursday, May 15th. Moffett Nathanson reaffirmed a “buy” rating and issued a $1,150.00 price objective (up from $1,100.00) on shares of Netflix in a research note on Friday, April 18th. Wedbush reaffirmed an “outperform” rating and issued a $1,200.00 price objective on shares of Netflix in a research note on Monday, May 5th. Needham & Company LLC reaffirmed a “buy” rating and issued a $1,126.00 price objective on shares of Netflix in a research note on Thursday, April 17th. Finally, Pivotal Research raised their price objective on Netflix from $1,350.00 to $1,600.00 and gave the company a “buy” rating in a research note on Friday, June 20th. Eleven research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,182.58.

Netflix Trading Up 0.8%

NFLX opened at $1,295.24 on Friday. The stock’s fifty day moving average is $1,207.87 and its two-hundred day moving average is $1,037.61. The company has a market capitalization of $551.21 billion, a P/E ratio of 61.21, a PEG ratio of 2.35 and a beta of 1.59. Netflix, Inc. has a 52 week low of $587.04 and a 52 week high of $1,341.15. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.58.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, topping the consensus estimate of $5.74 by $0.87. The company had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.51 billion. Netflix had a return on equity of 39.61% and a net margin of 23.07%. During the same period last year, the business posted $8.28 EPS. Analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current year.

Netflix 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.