Shellback Capital LP Lowers Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Shellback Capital LP reduced its stake in Netflix, Inc. (NASDAQ:NFLX) by 25.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 30,000 shares of the Internet television network’s stock after selling 10,000 shares during the quarter. Netflix accounts for 1.8% of Shellback Capital LP’s investment portfolio, making the stock its 15th biggest holding. Shellback Capital LP’s holdings in Netflix were worth $26,740,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Siemens Fonds Invest GmbH boosted its stake in shares of Netflix by 156.6% in the fourth quarter. Siemens Fonds Invest GmbH now owns 28,830 shares of the Internet television network’s stock valued at $25,697,000 after buying an additional 17,594 shares in the last quarter. Skye Global Management LP purchased a new stake in shares of Netflix in the fourth quarter valued at approximately $749,000. SGL Investment Advisors Inc. boosted its stake in shares of Netflix by 26.1% in the fourth quarter. SGL Investment Advisors Inc. now owns 406 shares of the Internet television network’s stock valued at $362,000 after buying an additional 84 shares in the last quarter. Silvercrest Asset Management Group LLC boosted its stake in shares of Netflix by 8.9% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 7,161 shares of the Internet television network’s stock valued at $6,383,000 after buying an additional 588 shares in the last quarter. Finally, Sora Investors LLC purchased a new stake in shares of Netflix in the fourth quarter valued at approximately $7,619,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Netflix Trading Up 2.3%

Netflix stock opened at $1,177.98 on Friday. The stock has a market cap of $501.31 billion, a PE ratio of 59.40, a P/E/G ratio of 2.12 and a beta of 1.58. The stock has a 50-day moving average price of $1,003.42 and a 200 day moving average price of $942.62. Netflix, Inc. has a 52 week low of $587.04 and a 52 week high of $1,187.80. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, beating the consensus estimate of $5.74 by $0.87. The company had revenue of $10.54 billion during the quarter, compared to analysts’ expectations of $10.51 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. During the same quarter in the previous year, the business earned $8.28 EPS. Equities research analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insider Buying and Selling at Netflix

In other news, Chairman Reed Hastings sold 25,360 shares of the business’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $921.15, for a total transaction of $23,360,364.00. Following the completion of the sale, the chairman now owns 394 shares in the company, valued at approximately $362,933.10. The trade was a 98.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Spencer Adam Neumann sold 2,601 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $982.05, for a total value of $2,554,312.05. Following the sale, the chief financial officer now owns 3,691 shares of the company’s stock, valued at $3,624,746.55. The trade was a 41.34% decrease in their position. The disclosure for this sale can be found here. Insiders sold 132,868 shares of company stock worth $138,483,256 in the last 90 days. 1.76% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on NFLX shares. Citigroup restated a “neutral” rating on shares of Netflix in a research note on Monday, May 5th. Robert W. Baird lifted their price objective on Netflix from $875.00 to $1,200.00 and gave the stock an “outperform” rating in a report on Wednesday, January 22nd. Evercore ISI lifted their price objective on Netflix from $1,100.00 to $1,150.00 and gave the stock an “outperform” rating in a report on Monday, April 21st. Wolfe Research raised Netflix from a “peer perform” rating to an “outperform” rating and set a $1,100.00 price objective for the company in a report on Thursday, January 23rd. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $1,200.00 price objective (up from $1,175.00) on shares of Netflix in a report on Friday, April 18th. Ten investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,084.91.

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.