Intech Investment Management LLC Reduces Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Intech Investment Management LLC trimmed its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 23.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 118,584 shares of the Internet television network’s stock after selling 36,854 shares during the period. Netflix makes up 1.0% of Intech Investment Management LLC’s portfolio, making the stock its 12th biggest position. Intech Investment Management LLC’s holdings in Netflix were worth $80,030,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of NFLX. ProVise Management Group LLC boosted its stake in Netflix by 29.3% during the 2nd quarter. ProVise Management Group LLC now owns 508 shares of the Internet television network’s stock valued at $343,000 after acquiring an additional 115 shares during the last quarter. MRP Capital Investments LLC bought a new stake in shares of Netflix in the 2nd quarter worth about $769,000. Intrepid Financial Planning Group LLC acquired a new stake in shares of Netflix in the 2nd quarter valued at about $218,000. Glass Jacobson Investment Advisors llc lifted its position in shares of Netflix by 187.6% during the second quarter. Glass Jacobson Investment Advisors llc now owns 440 shares of the Internet television network’s stock worth $297,000 after purchasing an additional 287 shares during the last quarter. Finally, Beck Bode LLC acquired a new position in Netflix in the second quarter worth about $11,546,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Benchmark upped their price objective on Netflix from $450.00 to $545.00 and gave the company a “sell” rating in a research note on Tuesday, July 16th. The Goldman Sachs Group upped their price target on Netflix from $650.00 to $659.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. UBS Group lifted their price objective on shares of Netflix from $685.00 to $750.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Loop Capital increased their target price on shares of Netflix from $700.00 to $750.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. Finally, Bank of America raised their target price on shares of Netflix from $700.00 to $740.00 and gave the stock a “buy” rating in a report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $685.29.

Netflix Stock Up 2.0 %

NASDAQ NFLX opened at $704.32 on Friday. The company has a market capitalization of $303.56 billion, a P/E ratio of 48.88, a PEG ratio of 1.40 and a beta of 1.26. Netflix, Inc. has a 12 month low of $344.73 and a 12 month high of $715.66. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95. The company’s 50 day simple moving average is $661.93 and its 200 day simple moving average is $639.96.

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, beating the consensus estimate of $4.74 by $0.14. The company had revenue of $9.56 billion for the quarter, compared to analysts’ expectations of $9.53 billion. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The firm’s revenue was up 16.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.29 earnings per share. Equities research analysts expect that Netflix, Inc. will post 19.08 earnings per share for the current fiscal year.

Insider Activity

In related news, Chairman Reed Hastings sold 22,526 shares of Netflix stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $670.49, for a total value of $15,103,457.74. Following the transaction, the chairman now owns 57 shares of the company’s stock, valued at approximately $38,217.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Netflix news, Chairman Reed Hastings sold 22,526 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $670.49, for a total value of $15,103,457.74. Following the completion of the transaction, the chairman now directly owns 57 shares in the company, valued at $38,217.93. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Gregory K. Peters sold 1,278 shares of Netflix stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $614.44, for a total transaction of $785,254.32. Following the completion of the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at $8,043,019.60. The disclosure for this sale can be found here. Insiders sold a total of 196,798 shares of company stock valued at $129,552,672 over the last three months. Insiders own 1.76% of the company’s stock.

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.