Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Riverbridge Partners LLC

Riverbridge Partners LLC lessened its stake in Netflix, Inc. (NASDAQ:NFLX) by 3.5% in the fourth quarter, Holdings Channel reports. The fund owned 57,864 shares of the Internet television network’s stock after selling 2,126 shares during the quarter. Riverbridge Partners LLC’s holdings in Netflix were worth $51,575,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Epoch Investment Partners Inc. boosted its holdings in Netflix by 27.1% in the second quarter. Epoch Investment Partners Inc. now owns 544 shares of the Internet television network’s stock valued at $367,000 after purchasing an additional 116 shares during the last quarter. Mill Creek Capital Advisors LLC boosted its stake in shares of Netflix by 24.8% during the 2nd quarter. Mill Creek Capital Advisors LLC now owns 433 shares of the Internet television network’s stock valued at $292,000 after buying an additional 86 shares during the last quarter. Clear Point Advisors Inc. boosted its stake in shares of Netflix by 3.9% during the 2nd quarter. Clear Point Advisors Inc. now owns 449 shares of the Internet television network’s stock valued at $303,000 after buying an additional 17 shares during the last quarter. Insigneo Advisory Services LLC grew its position in shares of Netflix by 10.6% during the second quarter. Insigneo Advisory Services LLC now owns 8,230 shares of the Internet television network’s stock worth $5,554,000 after buying an additional 786 shares in the last quarter. Finally, Fred Alger Management LLC increased its stake in shares of Netflix by 4.7% in the second quarter. Fred Alger Management LLC now owns 465,249 shares of the Internet television network’s stock worth $313,987,000 after buying an additional 20,962 shares during the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Richard N. Barton sold 5,698 shares of the business’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $756.00, for a total transaction of $4,307,688.00. Following the transaction, the director now directly owns 246 shares in the company, valued at $185,976. The trade was a 95.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Reed Hastings sold 48,363 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $896.60, for a total value of $43,362,265.80. Following the sale, the chairman now owns 114 shares of the company’s stock, valued at approximately $102,212.40. This represents a 99.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 152,198 shares of company stock worth $127,616,898. 1.76% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on NFLX. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Netflix from $650.00 to $875.00 and gave the stock a “hold” rating in a research report on Wednesday. Oppenheimer lifted their price objective on shares of Netflix from $1,040.00 to $1,150.00 and gave the stock an “outperform” rating in a report on Wednesday. Benchmark upgraded shares of Netflix from a “sell” rating to a “hold” rating in a research report on Wednesday. KeyCorp raised their target price on shares of Netflix from $1,000.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Guggenheim upped their target price on Netflix from $950.00 to $1,100.00 and gave the company a “buy” rating in a report on Wednesday. Nine equities 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’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $993.82.

Netflix Stock Performance

NFLX opened at $953.99 on Thursday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. Netflix, Inc. has a fifty-two week low of $481.40 and a fifty-two week high of $999.00. The firm has a market cap of $407.79 billion, a PE ratio of 48.11, a P/E/G ratio of 1.41 and a beta of 1.27. The business has a fifty day simple moving average of $889.11 and a 200-day simple moving average of $763.41.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, beating analysts’ consensus estimates of $4.20 by $0.07. The company had revenue of $10.25 billion during the quarter, compared to analyst estimates of $10,141,900 billion. Netflix had a net margin of 22.34% and a return on equity of 39.48%. The business’s quarterly revenue was up 16.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.11 earnings per share. As a group, equities analysts predict that Netflix, Inc. will post 23.43 EPS for the current fiscal year.

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.