Argus Investors Counsel Inc. Has $1.83 Million Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Argus Investors Counsel Inc. decreased its stake in Netflix, Inc. (NASDAQ:NFLX) by 25.7% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 3,016 shares of the Internet television network’s stock after selling 1,043 shares during the period. Netflix makes up 1.1% of Argus Investors Counsel Inc.’s investment portfolio, making the stock its 27th biggest position. Argus Investors Counsel Inc.’s holdings in Netflix were worth $1,832,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. WealthPlan Investment Management LLC grew its stake in Netflix by 98.5% during the third quarter. WealthPlan Investment Management LLC now owns 897 shares of the Internet television network’s stock worth $339,000 after purchasing an additional 445 shares during the period. Corient Private Wealth LLC grew its stake in Netflix by 12.5% during the third quarter. Corient Private Wealth LLC now owns 140,007 shares of the Internet television network’s stock worth $52,866,000 after purchasing an additional 15,611 shares during the period. EverSource Wealth Advisors LLC grew its stake in Netflix by 13.6% during the third quarter. EverSource Wealth Advisors LLC now owns 4,099 shares of the Internet television network’s stock worth $1,548,000 after purchasing an additional 492 shares during the period. Q3 Asset Management acquired a new stake in Netflix during the third quarter worth approximately $1,826,000. Finally, Second Half Financial Partners LLC grew its stake in Netflix by 274.1% during the third quarter. Second Half Financial Partners LLC now owns 5,208 shares of the Internet television network’s stock worth $1,967,000 after purchasing an additional 3,816 shares during the period. Institutional investors and hedge funds own 80.93% of the company’s stock.

Analyst Upgrades and Downgrades

NFLX has been the subject of several recent analyst reports. Jefferies Financial Group reaffirmed a “buy” rating and set a $655.00 target price on shares of Netflix in a research note on Wednesday, May 15th. Wells Fargo & Company increased their price target on Netflix from $650.00 to $726.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. The Goldman Sachs Group increased their price target on Netflix from $500.00 to $565.00 and gave the stock a “neutral” rating in a report on Wednesday, January 24th. TD Cowen increased their price target on Netflix from $600.00 to $725.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Finally, Evercore ISI increased their price target on Netflix from $640.00 to $650.00 and gave the stock an “outperform” rating in a report on Friday, April 19th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $630.53.

Insider Activity

In other news, Director Ann Mather sold 3,673 shares of Netflix stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $600.00, for a total value of $2,203,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider David A. Hyman sold 268 shares of Netflix stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $593.62, for a total transaction of $159,090.16. Following the completion of the sale, the insider now owns 31,610 shares of the company’s stock, valued at $18,764,328.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ann Mather sold 3,673 shares of Netflix stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $600.00, for a total value of $2,203,800.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 78,039 shares of company stock worth $46,401,083. 1.76% of the stock is owned by corporate insiders.

Netflix Stock Performance

Shares of NASDAQ NFLX traded down $4.80 during mid-day trading on Thursday, hitting $635.67. The company had a trading volume of 2,311,548 shares, compared to its average volume of 4,253,525. The company has a market capitalization of $273.97 billion, a price-to-earnings ratio of 44.11, a P/E/G ratio of 1.41 and a beta of 1.23. Netflix, Inc. has a 1 year low of $344.73 and a 1 year high of $650.88. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.62. The stock’s 50-day moving average price is $606.78 and its 200-day moving average price is $547.45.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share for the quarter, beating the consensus estimate of $4.51 by $0.77. The company had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $9.28 billion. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The firm’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period in the previous year, the business earned $2.88 earnings per share. On average, sell-side analysts forecast that Netflix, Inc. will post 18.31 earnings per share for the current year.

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.