RiverPark Advisors LLC Has $3.22 Million Position in Netflix, Inc. (NASDAQ:NFLX)

RiverPark Advisors LLC trimmed its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 12.0% in the first quarter, HoldingsChannel reports. The institutional investor owned 5,298 shares of the Internet television network’s stock after selling 725 shares during the quarter. Netflix accounts for about 2.6% of RiverPark Advisors LLC’s portfolio, making the stock its 9th largest holding. RiverPark Advisors LLC’s holdings in Netflix were worth $3,218,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in NFLX. Norges Bank purchased a new stake in shares of Netflix in the 4th quarter valued at approximately $2,558,598,000. Wellington Management Group LLP lifted its position in Netflix by 540.9% in 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 buying an additional 3,273,592 shares in the last quarter. International Assets Investment Management LLC lifted its position in Netflix by 15,039.1% in the 4th quarter. International Assets Investment Management LLC now owns 2,075,569 shares of the Internet television network’s stock worth $1,010,553,000 after buying an additional 2,061,859 shares in the last quarter. Jennison Associates LLC lifted its position in Netflix by 40.6% in the 4th quarter. Jennison Associates LLC now owns 5,452,271 shares of the Internet television network’s stock worth $2,654,602,000 after buying an additional 1,573,978 shares in the last quarter. Finally, Global Assets Advisory LLC purchased a new stake in Netflix in the 1st quarter worth approximately $436,514,000. 80.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on NFLX shares. Barclays increased their target price on shares of Netflix from $475.00 to $550.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Netflix from $525.00 to $550.00 and gave the stock a “hold” rating in a research report on Monday, April 15th. Benchmark increased their target price on shares of Netflix from $440.00 to $450.00 and gave the stock a “sell” rating in a research report on Friday, May 17th. Loop Capital raised their price target on shares of Netflix from $700.00 to $750.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. Finally, Evercore ISI raised their price target on shares of Netflix from $650.00 to $700.00 and gave the company an “outperform” rating in a report on Tuesday, May 28th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $638.77.

Insider Activity at Netflix

In related news, Chairman Reed Hastings sold 22,526 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $670.49, for a total value of $15,103,457.74. Following the sale, the chairman now owns 57 shares of the company’s stock, valued at $38,217.93. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider David A. Hyman sold 268 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $593.62, for a total value of $159,090.16. Following the sale, the insider now owns 31,610 shares of the company’s stock, valued at $18,764,328.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Reed Hastings sold 22,526 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $670.49, for a total transaction of $15,103,457.74. Following the completion of the sale, the chairman now directly owns 57 shares in the company, valued at approximately $38,217.93. The disclosure for this sale can be found here. Insiders have sold a total of 71,385 shares of company stock valued at $44,469,351 over the last quarter. 1.76% of the stock is owned by company insiders.

Netflix Stock Performance

Shares of NASDAQ:NFLX remained flat at $685.74 on Tuesday. 2,596,425 shares of the stock traded hands, compared to its average volume of 3,909,421. The firm’s 50 day moving average price is $646.07 and its 200 day moving average price is $594.86. Netflix, Inc. has a one year low of $344.73 and a one year high of $697.49. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a market capitalization of $295.55 billion, a price-to-earnings ratio of 47.59, a price-to-earnings-growth ratio of 1.49 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.51 by $0.77. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The company had revenue of $9.37 billion for the quarter, compared to the consensus estimate of $9.28 billion. During the same quarter in the previous year, the firm posted $2.88 EPS. The business’s revenue was up 14.8% compared to the same quarter last year. Research analysts predict that Netflix, Inc. will post 18.31 earnings per share for the current year.

About Netflix

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.