Douglass Winthrop Advisors LLC Sells 4,620 Shares of Netflix, Inc. (NASDAQ:NFLX)

Douglass Winthrop Advisors LLC lowered its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 1.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 247,076 shares of the Internet television network’s stock after selling 4,620 shares during the period. Netflix makes up 3.3% of Douglass Winthrop Advisors LLC’s portfolio, making the stock its 8th biggest position. Douglass Winthrop Advisors LLC’s holdings in Netflix were worth $175,244,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. DigitalBridge Group Inc. boosted its holdings in shares of Netflix by 35.5% in the second quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock valued at $24,338,000 after buying an additional 9,451 shares during the period. Charles Schwab Investment Management Inc. raised its position in Netflix by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,579,404 shares of the Internet television network’s stock worth $1,829,494,000 after acquiring an additional 29,726 shares in the last quarter. Natixis Advisors LLC grew its holdings in Netflix by 2.0% during the third quarter. Natixis Advisors LLC now owns 612,458 shares of the Internet television network’s stock worth $434,398,000 after purchasing an additional 11,921 shares during the period. Venturi Wealth Management LLC increased its position in Netflix by 27.5% during the third quarter. Venturi Wealth Management LLC now owns 3,077 shares of the Internet television network’s stock worth $2,182,000 after buying an additional 664 shares during the last quarter. Finally, Westfield Capital Management Co. LP bought a new stake in Netflix in the 3rd quarter valued at $222,871,000. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Netflix Price Performance

Shares of NFLX opened at $897.79 on Monday. The business’s fifty day moving average is $755.40 and its 200 day moving average is $691.50. Netflix, Inc. has a 12-month low of $445.73 and a 12-month high of $908.00. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. The stock has a market cap of $383.77 billion, a P/E ratio of 50.81, a P/E/G ratio of 1.73 and a beta of 1.25.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, beating analysts’ consensus estimates of $5.09 by $0.31. The firm had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. Sell-side analysts anticipate that Netflix, Inc. will post 19.78 earnings per share for the current fiscal year.

Insider Activity at Netflix

In related news, CEO Gregory K. Peters sold 4,392 shares of the company’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $725.00, for a total transaction of $3,184,200.00. Following the completion of the sale, the chief executive officer now owns 13,090 shares in the company, valued at approximately $9,490,250. This represents a 25.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 transaction, the chairman now owns 85 shares in the company, valued at approximately $57,878.20. This trade represents a 99.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 185,866 shares of company stock valued at $133,393,921. 1.76% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on NFLX shares. Loop Capital upped their price objective on Netflix from $750.00 to $800.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. TD Cowen upped their target price on Netflix from $820.00 to $835.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Sanford C. Bernstein raised their price objective on Netflix from $625.00 to $780.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. Barclays reiterated an “underweight” rating and set a $550.00 price target on shares of Netflix in a report on Friday, October 18th. Finally, Evercore ISI lifted their target price on shares of Netflix from $750.00 to $775.00 and gave the stock an “outperform” rating in a research report 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $764.82.

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.