Klingenstein Fields & Co. LP Reduces Position in Netflix, Inc. (NASDAQ:NFLX)

Klingenstein Fields & Co. LP lowered its holdings in Netflix, Inc. (NASDAQ:NFLX) by 0.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 39,619 shares of the Internet television network’s stock after selling 114 shares during the period. Klingenstein Fields & Co. LP’s holdings in Netflix were worth $26,738,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Netflix in the fourth quarter worth $2,558,598,000. Wellington Management Group LLP grew its holdings in Netflix by 540.9% during the 4th 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 in the last quarter. GQG Partners LLC bought a new stake in shares of Netflix in the 1st quarter worth about $1,450,476,000. Jennison Associates LLC raised its stake in shares of Netflix by 17.0% in the 1st quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock valued at $3,875,655,000 after purchasing an additional 929,193 shares in the last quarter. Finally, Global Assets Advisory LLC bought a new position in shares of Netflix during the first quarter worth about $436,514,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

Insider Activity at Netflix

In other Netflix news, insider David A. Hyman sold 13,791 shares of Netflix stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $700.00, for a total value of $9,653,700.00. Following the transaction, the insider now owns 31,610 shares in the company, valued at $22,127,000. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Netflix news, insider David A. Hyman sold 20,656 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the completion of the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at $19,128,159.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider David A. Hyman sold 13,791 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $700.00, for a total transaction of $9,653,700.00. Following the completion of the transaction, the insider now owns 31,610 shares of the company’s stock, valued at $22,127,000. The disclosure for this sale can be found here. Insiders sold a total of 132,757 shares of company stock valued at $85,648,496 over the last ninety days. Insiders own 1.76% of the company’s stock.

Netflix Price Performance

Shares of Netflix stock traded up $8.87 during trading on Monday, hitting $701.35. The stock had a trading volume of 3,266,700 shares, compared to its average volume of 3,828,842. The business has a fifty day moving average of $659.34 and a two-hundred day moving average of $631.17. Netflix, Inc. has a fifty-two week low of $344.73 and a fifty-two week high of $711.33. The firm has a market cap of $302.28 billion, a P/E ratio of 48.67, a PEG ratio of 1.44 and a beta of 1.27. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $9.53 billion. During the same period in the prior year, the company earned $3.29 EPS. Netflix’s revenue was up 16.8% on a year-over-year basis. On average, sell-side analysts expect that Netflix, Inc. will post 19.08 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on NFLX. StockNews.com lowered Netflix from a “buy” rating to a “hold” rating in a report on Thursday. Benchmark upped their price target on Netflix from $450.00 to $545.00 and gave the company a “sell” rating in a research report on Tuesday, July 16th. Argus raised their price objective on Netflix from $660.00 to $767.00 and gave the stock a “buy” rating in a research note on Tuesday, July 2nd. Jefferies Financial Group boosted their target price on shares of Netflix from $655.00 to $780.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Finally, Wedbush restated an “outperform” rating and issued a $725.00 price target on shares of Netflix in a research report on Monday, May 20th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $685.45.

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.