Picton Mahoney Asset Management Sells 730 Shares of Netflix, Inc. (NASDAQ:NFLX)

Picton Mahoney Asset Management cut its position in Netflix, Inc. (NASDAQ:NFLX) by 17.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,425 shares of the Internet television network’s stock after selling 730 shares during the quarter. Picton Mahoney Asset Management’s holdings in Netflix were worth $2,312,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NFLX. Norges Bank bought a new position in Netflix during the fourth quarter worth about $2,558,598,000. Wellington Management Group LLP raised its stake in Netflix by 540.9% in the fourth quarter. Wellington Management Group LLP now owns 3,878,785 shares of the Internet television network’s stock valued at $1,888,503,000 after purchasing an additional 3,273,592 shares in the last quarter. GQG Partners LLC bought a new stake in Netflix during the first quarter worth about $1,450,476,000. Jennison Associates LLC grew its stake in 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 buying an additional 929,193 shares in the last quarter. Finally, Global Assets Advisory LLC bought a new position in Netflix in the 1st quarter valued at about $436,514,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Stock Up 1.3 %

NASDAQ:NFLX traded up $8.87 during trading hours on Friday, reaching $701.35. The company had a trading volume of 3,266,723 shares, compared to its average volume of 3,016,490. Netflix, Inc. has a twelve month low of $344.73 and a twelve month high of $711.33. 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 firm has a market cap of $301.00 billion, a price-to-earnings ratio of 48.67, a P/E/G ratio of 1.44 and a beta of 1.27. The business’s 50-day simple moving average is $659.34 and its two-hundred day simple moving average is $630.81.

Netflix (NASDAQ:NFLX) last issued its earnings results on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, beating the consensus estimate of $4.74 by $0.14. The company had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $9.53 billion. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The firm’s revenue for the quarter was up 16.8% compared to the same quarter last year. During the same period last year, the business posted $3.29 EPS. On average, equities analysts expect that Netflix, Inc. will post 19.08 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Macquarie reiterated an “outperform” rating and set a $685.00 price target on shares of Netflix in a research report on Tuesday, July 16th. Pivotal Research lifted their price target on Netflix from $800.00 to $900.00 and gave the company a “buy” rating in a research note on Friday. Evercore ISI upped their price objective on Netflix from $710.00 to $750.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 27th. Benchmark lifted their target price on Netflix from $450.00 to $545.00 and gave the company a “sell” rating in a research report on Tuesday, July 16th. Finally, Jefferies Financial Group increased their target price on shares of Netflix from $655.00 to $780.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $685.45.

Insiders Place Their Bets

In other news, CFO Spencer Adam Neumann sold 433 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $626.19, for a total value of $271,140.27. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Leslie J. Kilgore sold 1,372 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $704.81, for a total transaction of $966,999.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Spencer Adam Neumann sold 433 shares of Netflix stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $626.19, for a total transaction of $271,140.27. The disclosure for this sale can be found here. In the last ninety days, insiders sold 152,700 shares of company stock valued at $98,283,982. Corporate insiders own 1.76% of the company’s stock.

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.