Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Conway Capital Management Inc.

Conway Capital Management Inc. cut its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 0.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 19,796 shares of the Internet television network’s stock after selling 95 shares during the quarter. Netflix makes up 7.8% of Conway Capital Management Inc.’s portfolio, making the stock its 5th largest holding. Conway Capital Management Inc.’s holdings in Netflix were worth $17,645,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. State Street Corp raised its stake in shares of Netflix by 2.6% during the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after buying an additional 426,740 shares during the period. Geode Capital Management LLC boosted its stake in Netflix by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock worth $6,464,736,000 after purchasing an additional 123,029 shares during the last quarter. Jennison Associates LLC grew its stake in Netflix by 4.7% during the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after acquiring an additional 316,594 shares in the last quarter. International Assets Investment Management LLC raised its holdings in Netflix by 116,620.0% in the 3rd quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock valued at $4,080,522,000 after acquiring an additional 5,748,200 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in Netflix by 0.5% in the 3rd quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock worth $3,473,571,000 after purchasing an additional 23,702 shares in the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Stock Up 3.2 %

Netflix stock opened at $984.86 on Friday. The stock’s fifty day moving average is $889.11 and its two-hundred day moving average is $763.41. The stock has a market cap of $420.99 billion, a PE ratio of 49.67, a P/E/G ratio of 1.53 and a beta of 1.27. Netflix, Inc. has a 1-year low of $537.07 and a 1-year high of $999.00. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.13.

Netflix (NASDAQ:NFLX) last posted its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, topping the consensus estimate of $4.20 by $0.07. The firm had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $10,141,900 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The firm’s revenue was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.11 earnings per share. On average, sell-side analysts expect that Netflix, Inc. will post 23.72 EPS for the current fiscal year.

Insider Activity

In related news, Director Richard N. Barton sold 6,364 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $879.38, for a total value of $5,596,374.32. Following the completion of the sale, the director now owns 246 shares in the company, valued at $216,327.48. This trade represents a 96.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Reed Hastings sold 41,601 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $758.06, for a total value of $31,536,054.06. Following the transaction, the chairman now owns 85 shares in the company, valued at $64,435.10. The trade was a 99.80 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 146,500 shares of company stock valued at $123,309,210. Insiders own 1.76% of the company’s stock.

Analysts Set New Price Targets

NFLX has been the subject of several recent research reports. Morgan Stanley increased their price target on Netflix from $1,050.00 to $1,150.00 and gave the company an “overweight” rating in a report on Wednesday. Benchmark raised Netflix from a “sell” rating to a “hold” rating in a research note on Wednesday. Bank of America lifted their price target on Netflix from $1,000.00 to $1,175.00 and gave the stock a “buy” rating in a report on Wednesday. Needham & Company LLC upped their price objective on shares of Netflix from $800.00 to $1,150.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Evercore ISI lifted their target price on shares of Netflix from $950.00 to $1,100.00 and gave the stock an “outperform” rating in a research note on Wednesday. Ten analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $996.94.

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.