Netflix, Inc. $NFLX Stock Sold by Danica Pension Livsforsikringsaktieselskab

Danica Pension Livsforsikringsaktieselskab cut its stake in Netflix, Inc. (NASDAQ:NFLX) by 23.5% in the third quarter, HoldingsChannel reports. The fund owned 379,651 shares of the Internet television network’s stock after selling 116,898 shares during the period. Danica Pension Livsforsikringsaktieselskab’s holdings in Netflix were worth $26,416,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of the stock. Clal Insurance Enterprises Holdings Ltd acquired a new stake in Netflix during the second quarter valued at $26,000. Pathway Financial Advisers LLC acquired a new position in shares of Netflix in the third quarter worth about $26,000. Sawyer & Company Inc acquired a new position in shares of Netflix in the third quarter worth about $27,000. Compound Global Advisors LLC purchased a new stake in shares of Netflix during the 2nd quarter worth about $29,000. Finally, Burnham & Co LLC purchased a new stake in shares of Netflix during the 2nd quarter worth about $29,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Price Performance

Shares of NASDAQ:NFLX traded down $0.54 during midday trading on Friday, hitting $62.15. The company had a trading volume of 36,558,372 shares, compared to its average volume of 46,146,632. Netflix, Inc. has a twelve month low of $61.39 and a twelve month high of $115.25. The stock has a market cap of $255.21 billion, a price-to-earnings ratio of 17.96, a price-to-earnings-growth ratio of 0.92 and a beta of 1.62. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.07 and a quick ratio of 1.07. The business’s 50-day simple moving average is $69.18 and its 200-day simple moving average is $80.42.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Tuesday, October 20th. The Internet television network reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.05. The business had revenue of $12.87 billion during the quarter, compared to analysts’ expectations of $12.87 billion. Netflix had a net margin of 29.69% and a return on equity of 42.69%. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.59 EPS. On average, research analysts predict that Netflix, Inc. will post 3.59 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on NFLX. William Blair restated an “outperform” rating on shares of Netflix in a research note on Wednesday, October 21st. Jefferies Financial Group set a $85.00 price target on Netflix and gave the stock a “buy” rating in a research report on Thursday, October 15th. Seaport Research Partners set a $85.00 price objective on Netflix in a report on Wednesday, October 21st. Yorkville Ives started coverage on Netflix in a research report on Monday, October 5th. They issued an “in-line” rating and a $75.00 price objective for the company. Finally, Needham & Company LLC cut Netflix from a “buy” rating to a “hold” rating in a research report on Wednesday, October 21st. Two research analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, seventeen have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Netflix presently has an average rating of “Moderate Buy” and an average price target of $89.14.

Key Stories Impacting Netflix

These are some of the NFLX stories that stood out recently:

• Positive Sentiment: Billionaire investor Bill Ackman reiterated his bullish view and called Netflix undervalued, offering a high-profile vote of confidence. Billionaire investor Bill Ackman on why he’s staying bullish on Netflix
• Negative Sentiment: Rising content spending is testing Netflix’s free-cash-flow outlook, even though the company is generating cash and has a busy holiday slate. Will Content Capex Weigh on Netflix’s Free Cash Flow Trajectory?
• Negative Sentiment: Netflix’s Thanksgiving Eve NFL game is framed as a test of its advertising strategy following a reported $300 million ad cut, adding uncertainty about ad growth. Netflix’s Thanksgiving Eve NFL Game Is the Next Test After a $300 Million Ad Cut

Insider Buying and Selling

In other news, CEO Theodore A. Sarandos sold 27,312 shares of the stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $66.20, for a total transaction of $1,808,054.40. Following the completion of the transaction, the chief executive officer directly owned 178,954 shares in the company, valued at approximately $11,846,754.80. This represents a 13.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Gregory K. Peters sold 27,312 shares of the firm’s stock in a transaction dated Monday, November 9th. The stock was sold at an average price of $63.62, for a total value of $1,737,589.44. Following the sale, the chief executive officer directly owned 119,412 shares of the company’s stock, valued at $7,596,991.44. The trade was a 18.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 89,024 shares of company stock valued at $5,788,733 in the last ninety days. Company insiders own 1.24% of the company’s stock.

Netflix Company Profile

Netflix, Inc. is an entertainment company that offers subscription-based streaming of television series, films, documentaries and other programming. Its service also includes mobile games and, in some markets, advertising-supported viewing plans. Netflix produces and licenses content, including titles made under its Netflix brand. Founded in 1997 by Reed Hastings and Marc Randolph as a DVD-by-mail rental business, the company launched its streaming service in 2007 and later expanded into original programming.