Platinum Investment Management Ltd. Sells 803 Shares of Netflix, Inc. (NASDAQ:NFLX)

Platinum Investment Management Ltd. reduced its holdings in Netflix, Inc. (NASDAQ:NFLX) by 18.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,618 shares of the Internet television network’s stock after selling 803 shares during the quarter. Platinum Investment Management Ltd.’s holdings in Netflix were worth $3,225,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. OVERSEA CHINESE BANKING Corp Ltd grew its holdings in shares of Netflix by 56.2% in the fourth quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 2,517 shares of the Internet television network’s stock worth $2,243,000 after acquiring an additional 906 shares during the period. Brooklyn FI LLC purchased a new stake in Netflix during the fourth quarter valued at approximately $1,070,000. Generali Asset Management SPA SGR purchased a new stake in Netflix during the fourth quarter valued at approximately $17,905,000. Evoke Wealth LLC raised its position in Netflix by 1.1% during the fourth quarter. Evoke Wealth LLC now owns 4,144 shares of the Internet television network’s stock valued at $3,694,000 after purchasing an additional 46 shares during the period. Finally, Horizon Investments LLC grew its stake in shares of Netflix by 19.6% during the fourth quarter. Horizon Investments LLC now owns 12,767 shares of the Internet television network’s stock valued at $11,379,000 after buying an additional 2,089 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors.

Netflix Stock Down 2.1 %

Shares of NASDAQ NFLX opened at $929.98 on Wednesday. The company has a 50 day simple moving average of $953.42 and a 200 day simple moving average of $853.33. The firm has a market cap of $397.81 billion, a PE ratio of 46.90, a price-to-earnings-growth ratio of 2.12 and a beta of 1.38. Netflix, Inc. has a 1 year low of $542.01 and a 1 year high of $1,064.50. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, topping the consensus estimate of $4.20 by $0.07. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The company had revenue of $10.25 billion during the quarter, compared to the consensus estimate of $10.14 billion. During the same quarter last year, the firm posted $2.11 EPS. The company’s quarterly revenue was up 16.0% on a year-over-year basis. On average, research analysts forecast that Netflix, Inc. will post 24.58 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Wolfe Research raised Netflix from a “peer perform” rating to an “outperform” rating and set a $1,100.00 target price on the stock in a research note on Thursday, January 23rd. Canaccord Genuity Group upgraded Netflix from a “hold” rating to a “buy” rating and raised their target price for the stock from $940.00 to $1,150.00 in a research note on Wednesday, January 22nd. Macquarie lifted their price target on Netflix from $965.00 to $1,150.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 22nd. Benchmark raised Netflix from a “sell” rating to a “hold” rating in a report on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. lifted their price target on Netflix from $1,000.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Netflix has an average rating of “Moderate Buy” and an average price target of $1,016.78.

Insiders Place Their Bets

In related news, insider David A. Hyman sold 41,121 shares of the business’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $979.01, for a total value of $40,257,870.21. Following the sale, the insider now directly owns 31,610 shares in the company, valued at approximately $30,946,506.10. The trade was a 56.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Reed Hastings sold 30,485 shares of Netflix stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $981.92, for a total value of $29,933,831.20. Following the transaction, the chairman now directly owns 394 shares of the company’s stock, valued at $386,876.48. The trade was a 98.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 288,103 shares of company stock valued at $279,142,041 in the last three months. 1.76% of the stock is currently owned by insiders.

Netflix Company 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.