1832 Asset Management L.P. Trims Position in Netflix, Inc. (NASDAQ:NFLX)

1832 Asset Management L.P. cut its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 22.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 411,714 shares of the Internet television network’s stock after selling 120,633 shares during the quarter. 1832 Asset Management L.P. owned 0.10% of Netflix worth $277,858,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of NFLX. Wellington Management Group LLP raised its position in Netflix by 540.9% during the 4th quarter. Wellington Management Group LLP now owns 3,878,785 shares of the Internet television network’s stock worth $1,888,503,000 after buying an additional 3,273,592 shares during the last quarter. GQG Partners LLC purchased a new position in Netflix during the 1st quarter worth approximately $1,450,476,000. Jennison Associates LLC grew its stake in shares of Netflix by 17.0% during the 1st quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock worth $3,875,655,000 after purchasing an additional 929,193 shares during the period. Global Assets Advisory LLC acquired a new stake in shares of Netflix during the 1st quarter worth approximately $436,514,000. Finally, Jericho Capital Asset Management L.P. acquired a new stake in shares of Netflix during the 1st quarter worth approximately $372,293,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Stock Down 0.5 %

NASDAQ NFLX opened at $701.03 on Friday. Netflix, Inc. has a 52 week low of $344.73 and a 52 week high of $715.66. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.55. The business’s fifty day simple moving average is $663.00 and its 200-day simple moving average is $640.85. The firm has a market cap of $302.14 billion, a PE ratio of 48.65, a P/E/G ratio of 1.40 and a beta of 1.26.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.74 by $0.14. The firm had revenue of $9.56 billion for the quarter, compared to analyst estimates of $9.53 billion. Netflix had a net margin of 19.54% and a return on equity of 32.93%. Netflix’s revenue was up 16.8% on a year-over-year basis. During the same period in the previous year, the firm earned $3.29 EPS. As a group, equities analysts anticipate that Netflix, Inc. will post 19.08 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on NFLX. Guggenheim raised their price objective on shares of Netflix from $700.00 to $735.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. StockNews.com raised shares of Netflix from a “hold” rating to a “buy” rating in a research note on Sunday, September 15th. Sanford C. Bernstein raised their price objective on shares of Netflix from $600.00 to $625.00 and gave the stock a “market perform” rating in a research note on Friday, July 19th. Jefferies Financial Group raised their price objective on shares of Netflix from $655.00 to $780.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Finally, Oppenheimer reissued an “outperform” rating and issued a $725.00 price target on shares of Netflix in a research note on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $685.29.

Insider Activity at Netflix

In related news, Director Leslie J. Kilgore sold 428 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $715.00, for a total value of $306,020.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Netflix news, Chairman Reed Hastings sold 22,526 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $670.49, for a total transaction of $15,103,457.74. Following the sale, the chairman now directly owns 57 shares in the company, valued at $38,217.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Leslie J. Kilgore sold 428 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $715.00, for a total transaction of $306,020.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 197,226 shares of company stock worth $129,858,692. Company insiders own 1.76% of the company’s stock.

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.