Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Wright Investors Service Inc.

Wright Investors Service Inc. decreased its holdings in Netflix, Inc. (NASDAQ:NFLX) by 18.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,231 shares of the Internet television network’s stock after selling 728 shares during the quarter. Wright Investors Service Inc.’s holdings in Netflix were worth $2,292,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. DigitalBridge Group Inc. lifted its stake in shares of Netflix by 35.5% in the second quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock worth $24,338,000 after acquiring an additional 9,451 shares in the last quarter. M&G Plc acquired a new stake in Netflix during the first quarter valued at approximately $9,682,000. BSN CAPITAL PARTNERS Ltd raised its stake in Netflix by 24.4% during the first quarter. BSN CAPITAL PARTNERS Ltd now owns 250,000 shares of the Internet television network’s stock valued at $155,185,000 after buying an additional 49,000 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in Netflix by 58.2% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 82,931 shares of the Internet television network’s stock valued at $55,968,000 after buying an additional 30,511 shares in the last quarter. Finally, Scarborough Advisors LLC acquired a new stake in Netflix during the fourth quarter valued at approximately $9,513,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Stock Performance

Shares of Netflix stock traded up $12.90 during trading on Friday, hitting $719.70. 2,230,139 shares of the stock were exchanged, compared to its average volume of 3,674,012. The stock has a market capitalization of $310.19 billion, a price-to-earnings ratio of 49.94, a price-to-earnings-growth ratio of 1.44 and a beta of 1.26. The company has a fifty day moving average price of $676.85 and a 200-day moving average price of $648.05. Netflix, Inc. has a 1-year low of $344.73 and a 1-year high of $725.26. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55.

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

Insider Transactions at Netflix

In related news, insider David A. Hyman sold 20,656 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total value of $12,499,565.28. Following the completion of the sale, the insider now directly owns 31,610 shares in the company, valued at $19,128,159.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Chairman Reed Hastings sold 45,290 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $706.16, for a total value of $31,981,986.40. Following the completion of the sale, the chairman now directly owns 85 shares in the company, valued at $60,023.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider David A. Hyman sold 20,656 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total value of $12,499,565.28. Following the completion of the sale, the insider now owns 31,610 shares of the company’s stock, valued at $19,128,159.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 224,784 shares of company stock valued at $150,212,870. Company insiders own 1.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on NFLX shares. Piper Sandler increased their price objective on Netflix from $600.00 to $650.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. China Renaissance began coverage on Netflix in a report on Thursday, September 5th. They issued a “hold” rating and a $680.00 price objective for the company. Argus increased their price target on Netflix from $660.00 to $767.00 and gave the company a “buy” rating in a research note on Tuesday, July 2nd. Jefferies Financial Group increased their price target on Netflix from $655.00 to $780.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Finally, Pivotal Research increased their price target on Netflix from $800.00 to $900.00 and gave the company a “buy” rating in a research note on Friday, August 30th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-four have given a buy rating to the company’s stock. According to MarketBeat, Netflix presently has a consensus rating of “Moderate Buy” and an average price target of $686.03.

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.