Park Avenue Securities LLC Sells 1,402 Shares of Netflix, Inc. (NASDAQ:NFLX)

Park Avenue Securities LLC reduced its position in Netflix, Inc. (NASDAQ:NFLX) by 10.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,245 shares of the Internet television network’s stock after selling 1,402 shares during the quarter. Park Avenue Securities LLC’s holdings in Netflix were worth $8,685,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Netflix by 0.4% during 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 during the last quarter. Jennison Associates LLC boosted its position in shares of Netflix by 17.0% during the first quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock worth $3,875,655,000 after acquiring an additional 929,193 shares during the last quarter. Baillie Gifford & Co. boosted its position in shares of Netflix by 2.3% during the second quarter. Baillie Gifford & Co. now owns 4,762,069 shares of the Internet television network’s stock worth $3,213,825,000 after acquiring an additional 106,756 shares during the last quarter. Fisher Asset Management LLC boosted its position in shares of Netflix by 1.8% during the fourth quarter. Fisher Asset Management LLC now owns 4,115,613 shares of the Internet television network’s stock worth $2,003,810,000 after acquiring an additional 72,807 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of Netflix by 540.9% during the fourth quarter. Wellington Management Group LLP now owns 3,878,785 shares of the Internet television network’s stock worth $1,888,503,000 after acquiring an additional 3,273,592 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors.

Netflix Stock Up 1.8 %

Shares of NASDAQ NFLX traded up $12.90 during mid-day trading on Friday, reaching $719.70. 2,230,139 shares of the company were exchanged, compared to its average volume of 3,674,012. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.55. The stock has a market cap of $310.19 billion, a price-to-earnings ratio of 49.94, a P/E/G ratio of 1.44 and a beta of 1.26. Netflix, Inc. has a 1 year low of $344.73 and a 1 year high of $725.26. The firm has a 50-day moving average of $676.85 and a 200 day moving average of $647.86.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, topping analysts’ consensus estimates of $4.74 by $0.14. Netflix had a return on equity of 32.93% and a net margin of 19.54%. 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 business posted $3.29 EPS. The firm’s quarterly revenue was up 16.8% on a year-over-year basis. On average, research analysts expect that Netflix, Inc. will post 19.08 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on NFLX. JPMorgan Chase & Co. increased their price objective on shares of Netflix from $650.00 to $750.00 and gave the company an “overweight” rating in a research report on Friday, July 12th. Guggenheim increased their price objective on shares of Netflix from $700.00 to $735.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Jefferies Financial Group increased their price objective on shares of Netflix from $655.00 to $780.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Sanford C. Bernstein increased their price objective on shares of Netflix from $600.00 to $625.00 and gave the company a “market perform” rating in a research report on Friday, July 19th. 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 report on Tuesday, July 9th. One equities research 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. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $686.03.

Insider Activity at Netflix

In related news, insider David A. Hyman sold 20,656 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at $19,128,159.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, Chairman Reed Hastings sold 25,599 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $631.43, for a total value of $16,163,976.57. Following the transaction, the chairman now directly owns 57 shares of the company’s stock, valued at approximately $35,991.51. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David A. Hyman sold 20,656 shares of the stock in a transaction dated 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 transaction, 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 disclosure for this sale can be found here. Insiders have sold 224,784 shares of company stock valued at $150,212,870 in the last ninety days. Corporate insiders own 1.76% of the company’s stock.

About Netflix

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.