Crestwood Capital Management L.P. Sells 6,442 Shares of Netflix, Inc. (NASDAQ:NFLX)

Crestwood Capital Management L.P. cut its position in Netflix, Inc. (NASDAQ:NFLX) by 28.7% during the third quarter, Holdings Channel reports. The firm owned 15,997 shares of the Internet television network’s stock after selling 6,442 shares during the period. Netflix makes up approximately 8.8% of Crestwood Capital Management L.P.’s portfolio, making the stock its 4th largest position. Crestwood Capital Management L.P.’s holdings in Netflix were worth $11,346,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of NFLX. Denver PWM LLC acquired a new stake in Netflix during the second quarter worth about $25,000. Proffitt & Goodson Inc. grew its holdings in Netflix by 380.0% during the second quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock worth $32,000 after acquiring an additional 38 shares during the period. E Fund Management Hong Kong Co. Ltd. grew its holdings in Netflix by 700.0% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after acquiring an additional 42 shares during the period. AlphaMark Advisors LLC grew its holdings in Netflix by 642.9% during the second quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock worth $35,000 after acquiring an additional 45 shares during the period. Finally, MidAtlantic Capital Management Inc. acquired a new stake in Netflix during the third quarter worth about $37,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Netflix

In other Netflix news, Director Anne M. Sweeney sold 589 shares of Netflix stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $880.00, for a total value of $518,320.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Timothy M. Haley sold 647 shares of Netflix stock in a transaction on Monday, November 11th. The shares were sold at an average price of $800.19, for a total value of $517,722.93. The disclosure for this sale can be found here. Insiders have sold 185,866 shares of company stock worth $133,393,921 over the last quarter. 1.76% of the stock is currently owned by company insiders.

Netflix Stock Performance

Shares of Netflix stock opened at $865.59 on Tuesday. Netflix, Inc. has a one year low of $445.73 and a one year high of $908.00. The company has a market cap of $370.00 billion, a price-to-earnings ratio of 48.99, a PEG ratio of 1.73 and a beta of 1.25. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13. The business’s 50 day moving average price is $758.78 and its 200 day moving average price is $693.29.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, topping analysts’ consensus estimates of $5.09 by $0.31. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The firm had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.77 billion. On average, research analysts predict that Netflix, Inc. will post 19.78 EPS for the current year.

Wall Street Analyst Weigh In

NFLX has been the topic of several analyst reports. Sanford C. Bernstein raised their target price on Netflix from $625.00 to $780.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. Rosenblatt Securities raised their target price on Netflix from $635.00 to $680.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Deutsche Bank Aktiengesellschaft raised their price objective on Netflix from $590.00 to $650.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Barclays reissued an “underweight” rating and issued a $550.00 price objective on shares of Netflix in a report on Friday, October 18th. Finally, Pivotal Research raised their price objective on Netflix from $925.00 to $1,100.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $764.82.

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.