Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Kayne Anderson Rudnick Investment Management LLC

Kayne Anderson Rudnick Investment Management LLC cut its stake in Netflix, Inc. (NASDAQ:NFLX) by 4.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,419 shares of the Internet television network’s stock after selling 3,154 shares during the period. Kayne Anderson Rudnick Investment Management LLC’s holdings in Netflix were worth $43,476,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of NFLX. Obermeyer Wood Investment Counsel Lllp raised its stake in Netflix by 2.8% in the 1st quarter. Obermeyer Wood Investment Counsel Lllp now owns 623 shares of the Internet television network’s stock worth $378,000 after acquiring an additional 17 shares during the last quarter. Private Portfolio Partners LLC raised its stake in shares of Netflix by 1.7% in the first quarter. Private Portfolio Partners LLC now owns 1,042 shares of the Internet television network’s stock worth $633,000 after purchasing an additional 17 shares during the last quarter. FAS Wealth Partners Inc. lifted its holdings in shares of Netflix by 1.5% during the second quarter. FAS Wealth Partners Inc. now owns 1,164 shares of the Internet television network’s stock worth $786,000 after purchasing an additional 17 shares during the period. Founders Financial Alliance LLC boosted its position in Netflix by 2.4% in the fourth quarter. Founders Financial Alliance LLC now owns 757 shares of the Internet television network’s stock valued at $369,000 after buying an additional 18 shares during the last quarter. Finally, Capital Advisors Ltd. LLC increased its holdings in Netflix by 4.6% in the 1st quarter. Capital Advisors Ltd. LLC now owns 411 shares of the Internet television network’s stock worth $250,000 after buying an additional 18 shares during the period. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Insider Activity at Netflix

In related news, Director Jay C. Hoag sold 43,750 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $687.07, for a total value of $30,059,312.50. Following the sale, the director now directly owns 95,040 shares of the company’s stock, valued at $65,299,132.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Jay C. Hoag sold 43,750 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $687.07, for a total value of $30,059,312.50. Following the completion of the sale, the director now owns 95,040 shares in the company, valued at $65,299,132.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Leslie J. Kilgore sold 428 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were 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. Insiders have sold a total of 197,226 shares of company stock valued at $129,858,692 over the last quarter. Insiders own 1.76% of the company’s stock.

Netflix Stock Performance

NASDAQ NFLX opened at $701.03 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95. Netflix, Inc. has a 1 year low of $344.73 and a 1 year high of $715.66. The company has a fifty day moving average of $663.00 and a two-hundred day moving average of $640.85. The company 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.

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

Wall Street Analyst Weigh In

Several equities research analysts have commented on NFLX shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $700.00 price target on shares of Netflix in a report on Friday, July 19th. Citigroup raised their target price on Netflix from $660.00 to $675.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Evercore ISI boosted their price target on Netflix from $710.00 to $750.00 and gave the company an “outperform” rating in a report on Tuesday, August 27th. UBS Group raised their price objective on shares of Netflix from $685.00 to $750.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Finally, Morgan Stanley boosted their target price on shares of Netflix from $700.00 to $780.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Netflix presently has a consensus rating of “Moderate Buy” and a consensus price target of $685.29.

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.