Covea Finance Sells 16,100 Shares of Netflix, Inc. (NASDAQ:NFLX)

Covea Finance lowered its position in Netflix, Inc. (NASDAQ:NFLX) by 16.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 79,120 shares of the Internet television network’s stock after selling 16,100 shares during the period. Netflix comprises 2.5% of Covea Finance’s holdings, making the stock its 9th largest position. Covea Finance’s holdings in Netflix were worth $56,117,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in shares of Netflix by 43.7% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 864,454 shares of the Internet television network’s stock worth $420,878,000 after buying an additional 262,822 shares during the period. FIL Ltd boosted its holdings in Netflix by 39.7% during the fourth quarter. FIL Ltd now owns 939,054 shares of the Internet television network’s stock worth $457,207,000 after purchasing an additional 266,949 shares during the last quarter. Taylor Financial Group Inc. acquired a new stake in Netflix in the 4th quarter valued at $363,000. Sunpointe LLC acquired a new position in shares of Netflix during the 4th quarter worth about $307,000. Finally, Wellington Wealth Strategies LLC. bought a new position in shares of Netflix in the 4th quarter valued at about $263,000. 80.93% of the stock is currently owned by institutional investors.

Insider Activity at Netflix

In related news, CEO Gregory K. Peters sold 1,278 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $614.44, for a total value of $785,254.32. Following the sale, the chief executive officer now owns 13,090 shares of the company’s stock, valued at $8,043,019.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Gregory K. Peters sold 1,278 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $614.44, for a total value of $785,254.32. Following the sale, the chief executive officer now directly owns 13,090 shares in the company, valued at $8,043,019.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Leslie J. Kilgore sold 383 shares of the firm’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $730.00, for a total transaction of $279,590.00. Following the transaction, the director now owns 35,262 shares of the company’s stock, valued at approximately $25,741,260. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 225,167 shares of company stock worth $150,492,460 in the last quarter. 1.76% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on NFLX shares. Evercore ISI upped their target price on Netflix from $710.00 to $750.00 and gave the stock an “outperform” rating in a report on Tuesday, August 27th. Morgan Stanley upped their price objective on Netflix from $780.00 to $820.00 and gave the stock an “overweight” rating in a research note on Thursday. UBS Group raised their target price on shares of Netflix from $685.00 to $750.00 and gave the company a “buy” rating in a research note on Friday, July 19th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $635.00 price target on shares of Netflix in a research report on Friday, September 20th. Finally, Sanford C. Bernstein lifted their price target on Netflix from $600.00 to $625.00 and gave the stock a “market perform” rating in a report on Friday, July 19th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $702.79.

Netflix Price Performance

Netflix stock traded down $7.50 during midday trading on Friday, reaching $722.79. The company’s stock had a trading volume of 2,299,525 shares, compared to its average volume of 3,649,776. The stock has a market cap of $311.52 billion, a PE ratio of 50.16, a price-to-earnings-growth ratio of 1.49 and a beta of 1.26. 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, Inc. has a 52 week low of $344.73 and a 52 week high of $736.00. The business has a 50-day moving average price of $686.60 and a 200-day moving average price of $651.18.

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 business had revenue of $9.56 billion for the quarter, compared to analyst estimates of $9.53 billion. During the same quarter in the previous year, the company posted $3.29 EPS. Netflix’s quarterly revenue was up 16.8% compared to the same quarter last year. On average, sell-side analysts predict that Netflix, Inc. will post 19.08 EPS for the current year.

Netflix 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.