Primecap Management Co. CA Sells 2,100 Shares of Netflix, Inc. (NASDAQ:NFLX)

Primecap Management Co. CA lessened its holdings in Netflix, Inc. (NASDAQ:NFLX) by 1.3% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 160,390 shares of the Internet television network’s stock after selling 2,100 shares during the period. Primecap Management Co. CA’s holdings in Netflix were worth $113,760,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in Netflix by 5.2% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 263,310 shares of the Internet television network’s stock worth $186,758,000 after purchasing an additional 13,022 shares in the last quarter. King Luther Capital Management Corp increased its position in shares of Netflix by 32.4% during the third quarter. King Luther Capital Management Corp now owns 96,774 shares of the Internet television network’s stock worth $68,639,000 after purchasing an additional 23,656 shares in the last quarter. Cornerstone Advisors LLC increased its position in shares of Netflix by 17.8% during the third quarter. Cornerstone Advisors LLC now owns 25,200 shares of the Internet television network’s stock worth $17,874,000 after purchasing an additional 3,800 shares in the last quarter. Citizens Financial Group Inc. RI raised its stake in Netflix by 2.0% in the third quarter. Citizens Financial Group Inc. RI now owns 5,872 shares of the Internet television network’s stock valued at $4,165,000 after buying an additional 114 shares during the last quarter. Finally, Moran Wealth Management LLC boosted its stake in Netflix by 3.5% in the 3rd quarter. Moran Wealth Management LLC now owns 2,666 shares of the Internet television network’s stock worth $1,891,000 after purchasing an additional 90 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on NFLX. UBS Group raised their price objective on Netflix from $750.00 to $825.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Wells Fargo & Company lifted their price target on Netflix from $758.00 to $797.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Bank of America lifted their target price on shares of Netflix from $800.00 to $1,000.00 and gave the company a “buy” rating in a research report on Thursday. JPMorgan Chase & Co. increased their price objective on Netflix from $750.00 to $850.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Finally, Evercore ISI raised their target price on shares of Netflix from $750.00 to $775.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat.com, Netflix has a consensus rating of “Moderate Buy” and a consensus price target of $764.82.

Insider Buying and Selling

In other news, Chairman Reed Hastings sold 25,074 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $680.92, for a total value of $17,073,388.08. Following the sale, the chairman now directly owns 85 shares in the company, valued at approximately $57,878.20. This trade represents a 99.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Anne M. Sweeney sold 589 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $880.00, for a total transaction of $518,320.00. The disclosure for this sale can be found here. Insiders sold 185,866 shares of company stock worth $133,393,921 over the last 90 days. 1.76% of the stock is owned by insiders.

Netflix Stock Up 1.4 %

Netflix stock opened at $896.05 on Friday. The firm has a market capitalization of $383.03 billion, a P/E ratio of 50.71, a P/E/G ratio of 1.68 and a beta of 1.25. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. Netflix, Inc. has a twelve month low of $445.73 and a twelve month high of $908.00. The stock’s fifty day simple moving average is $751.39 and its 200-day simple moving average is $688.25.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.09 by $0.31. The company had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.77 billion. Netflix had a return on equity of 35.86% and a net margin of 20.70%. As a group, equities analysts expect that Netflix, Inc. will post 19.78 earnings per share for the current fiscal 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.