Means Investment CO. Inc. Trims Stake in Netflix, Inc. (NASDAQ:NFLX)

Means Investment CO. Inc. lessened its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 1.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,718 shares of the Internet television network’s stock after selling 20 shares during the quarter. Means Investment CO. Inc.’s holdings in Netflix were worth $1,218,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in NFLX. GQG Partners LLC purchased a new position in shares of Netflix during the 1st quarter worth $1,450,476,000. Jennison Associates LLC lifted its stake in shares of Netflix by 17.0% during the 1st 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 period. Global Assets Advisory LLC purchased a new position in shares of Netflix during the 1st quarter worth $436,514,000. Jericho Capital Asset Management L.P. purchased a new position in shares of Netflix during the 1st quarter worth $372,293,000. Finally, Swedbank AB purchased a new position in shares of Netflix during the 1st quarter worth $216,538,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Wall Street Analysts Forecast Growth

NFLX has been the topic of several research reports. Macquarie reaffirmed an “outperform” rating and issued a $795.00 target price on shares of Netflix in a research report on Friday. Wedbush increased their target price on Netflix from $725.00 to $775.00 and gave the stock an “overweight” rating in a research report on Thursday. The Goldman Sachs Group set a $750.00 target price on Netflix in a research report on Friday. Wolfe Research reaffirmed an “outperform” rating on shares of Netflix in a research report on Friday. Finally, Sanford C. Bernstein increased their target price on Netflix from $625.00 to $780.00 and gave the stock a “market perform” rating in a research report on Friday. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $747.70.

Netflix Stock Performance

Shares of NFLX stock opened at $763.89 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95. Netflix, Inc. has a one year low of $392.26 and a one year high of $766.28. The company’s 50-day simple moving average is $696.38 and its 200-day simple moving average is $654.94. The stock has a market capitalization of $329.24 billion, a price-to-earnings ratio of 53.01, a PEG ratio of 1.49 and a beta of 1.26.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, topping the consensus estimate of $4.74 by $0.14. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The business had revenue of $9.56 billion for the quarter, compared to analysts’ expectations of $9.53 billion. During the same quarter last year, the company posted $3.29 earnings per share. The company’s quarterly revenue was up 16.8% compared to the same quarter last year. Equities analysts anticipate that Netflix, Inc. will post 19.08 earnings per share for the current fiscal year.

Insider Transactions at Netflix

In other Netflix news, Chairman Reed Hastings sold 25,599 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $631.43, for a total value of $16,163,976.57. Following the transaction, the chairman now owns 57 shares of the company’s stock, valued at $35,991.51. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Netflix news, Chairman Reed Hastings sold 25,599 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $631.43, for a total value of $16,163,976.57. Following the transaction, the chairman now owns 57 shares of the company’s stock, valued at $35,991.51. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Gregory K. Peters sold 1,278 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $614.44, for a total transaction of $785,254.32. Following the completion of the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at $8,043,019.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 225,167 shares of company stock valued at $150,492,460. Insiders own 1.76% of the company’s stock.

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.