Sei Investments Co. Has $454.99 Million Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Sei Investments Co. lessened its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 13.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 674,196 shares of the Internet television network’s stock after selling 102,730 shares during the quarter. Netflix makes up approximately 0.6% of Sei Investments Co.’s investment portfolio, making the stock its 19th largest position. Sei Investments Co. owned approximately 0.16% of Netflix worth $454,989,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Denver PWM LLC acquired a new stake in Netflix in the 2nd quarter worth about $25,000. Valued Wealth Advisors LLC increased its holdings in shares of Netflix by 80.0% during the first quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock worth $27,000 after purchasing an additional 20 shares during the period. VitalStone Financial LLC raised its position in shares of Netflix by 933.3% in the fourth quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock valued at $30,000 after buying an additional 56 shares in the last quarter. Beaird Harris Wealth Management LLC boosted its stake in shares of Netflix by 1,550.0% in the fourth quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock valued at $32,000 after buying an additional 62 shares during the period. Finally, Scarborough Advisors LLC acquired a new stake in Netflix during the fourth quarter worth approximately $32,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NFLX has been the subject of several analyst reports. Sanford C. Bernstein lifted their price objective on Netflix from $600.00 to $625.00 and gave the company a “market perform” rating in a report on Friday, July 19th. Benchmark raised their target price on shares of Netflix from $450.00 to $545.00 and gave the company a “sell” rating in a report on Tuesday, July 16th. UBS Group increased their target price 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 lifted their price target on shares of Netflix from $700.00 to $750.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. Finally, TD Cowen increased 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 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. Based on data from MarketBeat.com, Netflix currently has a consensus rating of “Moderate Buy” and an average price target of $685.29.

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 completion of the sale, the chairman now owns 57 shares of the company’s stock, valued at approximately $38,217.93. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Netflix news, Chairman Reed Hastings sold 22,526 shares of the company’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 of the company’s stock, valued at $38,217.93. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Leslie J. Kilgore sold 428 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $715.00, for a total value of $306,020.00. The disclosure for this sale can be found here. Insiders have sold 197,226 shares of company stock valued at $129,858,692 in the last 90 days. Insiders own 1.76% of the company’s stock.

Netflix Trading Down 0.5 %

NFLX opened at $701.03 on Friday. Netflix, Inc. has a fifty-two week low of $344.73 and a fifty-two week high of $715.66. The firm 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 current ratio of 0.95 and a quick ratio of 0.95. The company’s 50-day moving average is $663.00 and its 200 day moving average is $640.55.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, beating 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 company had revenue of $9.56 billion during the quarter, compared to analyst estimates of $9.53 billion. During the same quarter in the prior year, the business earned $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, research analysts predict that Netflix, Inc. will post 19.08 earnings per share for the current fiscal 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.