Netflix, Inc. (NASDAQ:NFLX) Holdings Lowered by Quest Investment Management LLC

Quest Investment Management LLC lowered its stake in Netflix, Inc. (NASDAQ:NFLX) by 9.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,532 shares of the Internet television network’s stock after selling 2,501 shares during the quarter. Netflix makes up 1.8% of Quest Investment Management LLC’s investment portfolio, making the stock its 21st largest holding. Quest Investment Management LLC’s holdings in Netflix were worth $15,881,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of Netflix by 0.4% in the first quarter. Vanguard Group Inc. now owns 36,587,911 shares of the Internet television network’s stock worth $22,220,936,000 after acquiring an additional 149,341 shares in the last quarter. Capital World Investors boosted its stake in Netflix by 0.7% in the 4th quarter. Capital World Investors now owns 11,744,636 shares of the Internet television network’s stock worth $5,718,265,000 after purchasing an additional 78,320 shares during the period. Jennison Associates LLC boosted its stake in Netflix by 17.0% in 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. Baillie Gifford & Co. grew its position in Netflix by 2.3% during the 2nd quarter. Baillie Gifford & Co. now owns 4,762,069 shares of the Internet television network’s stock worth $3,213,825,000 after purchasing an additional 106,756 shares in the last quarter. Finally, Fisher Asset Management LLC raised its stake in Netflix by 1.8% during the 4th quarter. Fisher Asset Management LLC now owns 4,115,613 shares of the Internet television network’s stock valued at $2,003,810,000 after purchasing an additional 72,807 shares during the period. Institutional investors and hedge funds own 80.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. JPMorgan Chase & Co. raised their target price on Netflix from $650.00 to $750.00 and gave the stock an “overweight” rating in a research report on Friday, July 12th. Macquarie restated an “outperform” rating and set a $685.00 price objective on shares of Netflix in a research report on Tuesday, July 16th. Benchmark upped their target price on Netflix from $450.00 to $545.00 and gave the company a “sell” rating in a report on Tuesday, July 16th. Rosenblatt Securities restated a “neutral” rating and set a $635.00 price target on shares of Netflix in a report on Friday. Finally, TD Cowen upped their price objective on shares of Netflix from $725.00 to $775.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-four have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $685.29.

Insider Buying and Selling at Netflix

In other news, insider David A. Hyman sold 20,656 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the completion of the transaction, the insider now owns 31,610 shares of the company’s stock, valued at $19,128,159.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider David A. Hyman sold 20,656 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the sale, the insider now directly owns 31,610 shares in the company, valued at $19,128,159.30. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider David A. Hyman sold 13,791 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $700.00, for a total value of $9,653,700.00. Following the completion of the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at $22,127,000. The disclosure for this sale can be found here. Insiders sold a total of 197,226 shares of company stock valued at $129,858,692 in the last ninety days. Company insiders own 1.76% of the company’s stock.

Netflix Price Performance

NASDAQ NFLX opened at $701.03 on Friday. The stock has a 50-day simple moving average of $663.00 and a 200 day simple moving average of $640.85. Netflix, Inc. has a twelve month low of $344.73 and a twelve month high of $715.66. The stock has a market capitalization of $302.14 billion, a PE ratio of 48.65, a P/E/G ratio of 1.40 and a beta of 1.26. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95.

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