Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Stablepoint Partners LLC

Stablepoint Partners LLC lowered its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 14.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,694 shares of the Internet television network’s stock after selling 623 shares during the period. Stablepoint Partners LLC’s holdings in Netflix were worth $2,620,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Netflix by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 36,587,911 shares of the Internet television network’s stock valued at $22,220,936,000 after purchasing an additional 149,341 shares in the last quarter. Jennison Associates LLC grew its stake in 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 acquiring an additional 929,193 shares during the last quarter. Baillie Gifford & Co. increased its holdings in Netflix by 2.3% during the 2nd quarter. Baillie Gifford & Co. now owns 4,762,069 shares of the Internet television network’s stock valued at $3,213,825,000 after acquiring an additional 106,756 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Netflix by 3.1% in the second quarter. Legal & General Group Plc now owns 3,449,114 shares of the Internet television network’s stock valued at $2,327,738,000 after purchasing an additional 104,332 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Netflix by 2.6% in the second quarter. Bank of New York Mellon Corp now owns 3,281,306 shares of the Internet television network’s stock valued at $2,214,488,000 after purchasing an additional 83,762 shares during the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. KeyCorp upped their target price on Netflix from $735.00 to $760.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. TD Cowen boosted their price objective on shares of Netflix from $775.00 to $820.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Argus raised their target price on shares of Netflix from $660.00 to $767.00 and gave the stock a “buy” rating in a research report on Tuesday, July 2nd. China Renaissance started coverage on Netflix in a research note on Thursday, September 5th. They set a “hold” rating and a $680.00 price target on the stock. Finally, UBS Group lifted their price objective on Netflix from $685.00 to $750.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $702.79.

Netflix Stock Performance

Shares of NASDAQ NFLX traded up $2.59 during mid-day trading on Monday, hitting $725.38. The company had a trading volume of 140,838 shares, compared to its average volume of 3,632,068. 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, Inc. has a 12 month low of $344.73 and a 12 month high of $736.00. The firm’s 50 day simple moving average is $686.60 and its two-hundred day simple moving average is $651.60. The stock has a market cap of $312.64 billion, a price-to-earnings ratio of 50.16, a PEG ratio of 1.49 and a beta of 1.26.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.74 by $0.14. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The firm 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 business posted $3.29 earnings per share. The firm’s quarterly revenue was up 16.8% compared to the same quarter last year. As a group, equities research analysts forecast that Netflix, Inc. will post 19.08 earnings per share for the current year.

Insider Activity at Netflix

In other news, Director Leslie J. Kilgore sold 383 shares of the company’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 value of $279,590.00. Following the sale, the director now directly owns 35,262 shares in the company, valued at approximately $25,741,260. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, 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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Leslie J. Kilgore sold 383 shares of Netflix stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $730.00, for a total value of $279,590.00. Following the completion of the transaction, the director now owns 35,262 shares in the company, valued at approximately $25,741,260. This represents 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 ninety days. 1.76% of the stock is currently owned by insiders.

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.