First Pacific Advisors LP Lowers Position in Netflix, Inc. (NASDAQ:NFLX)

First Pacific Advisors LP decreased its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 16.1% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 92,759 shares of the Internet television network’s stock after selling 17,797 shares during the period. First Pacific Advisors LP’s holdings in Netflix were worth $62,601,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of NFLX. 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 buying an additional 149,341 shares during the last quarter. Capital World Investors lifted its holdings in Netflix by 0.7% during the fourth quarter. Capital World Investors now owns 11,744,636 shares of the Internet television network’s stock worth $5,718,265,000 after acquiring an additional 78,320 shares during the period. Jennison Associates LLC boosted its position in Netflix by 17.0% in the first quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock worth $3,875,655,000 after purchasing an additional 929,193 shares during the last quarter. Norges Bank purchased a new stake in Netflix during the fourth quarter worth about $2,558,598,000. Finally, Baillie Gifford & Co. increased its holdings in Netflix by 2.3% in the 2nd quarter. Baillie Gifford & Co. now owns 4,762,069 shares of the Internet television network’s stock worth $3,213,825,000 after acquiring an additional 106,756 shares during the last quarter. Institutional investors own 80.93% of the company’s stock.

Insider Buying and Selling at Netflix

In other Netflix news, insider David A. Hyman sold 20,656 shares of Netflix stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the completion of the transaction, the insider now owns 31,610 shares in the company, valued at $19,128,159.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Jay C. Hoag sold 37,675 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $629.73, for a total transaction of $23,725,077.75. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider David A. Hyman sold 20,656 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the sale, the insider now owns 31,610 shares of the company’s stock, valued at $19,128,159.30. The disclosure for this sale can be found here. Over the last quarter, insiders sold 157,831 shares of company stock valued at $102,721,884. Corporate insiders own 1.76% of the company’s stock.

Netflix Stock Down 0.3 %

NFLX stock traded down $1.98 during midday trading on Thursday, hitting $677.70. The stock had a trading volume of 628,905 shares, compared to its average volume of 3,794,272. The business has a 50-day moving average of $660.09 and a two-hundred day moving average of $632.90. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a market cap of $292.09 billion, a price-to-earnings ratio of 47.37, a price-to-earnings-growth ratio of 1.44 and a beta of 1.27. Netflix, Inc. has a 52-week low of $344.73 and a 52-week high of $711.33.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $9.53 billion. During the same period in the prior year, the firm earned $3.29 EPS. The company’s 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 fiscal year.

Wall Street Analyst Weigh In

NFLX has been the subject of a number of analyst reports. TD Cowen raised their price target on Netflix from $725.00 to $775.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. Oppenheimer restated an “outperform” rating and set a $725.00 price target on shares of Netflix in a research report on Tuesday, July 30th. Bank of America lifted their price objective on Netflix from $700.00 to $740.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Piper Sandler upped their target price on Netflix from $600.00 to $650.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th. Finally, Citigroup lifted their price target on Netflix from $660.00 to $675.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat, Netflix presently has an average rating of “Moderate Buy” and a consensus target price of $685.29.

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.