Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Magellan Asset Management Ltd

Magellan Asset Management Ltd decreased its stake in Netflix, Inc. (NASDAQ:NFLX) by 27.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 353,848 shares of the Internet television network’s stock after selling 133,535 shares during the quarter. Netflix makes up 3.5% of Magellan Asset Management Ltd’s holdings, making the stock its 7th biggest position. Magellan Asset Management Ltd owned about 0.08% of Netflix worth $315,392,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank purchased a new stake in Netflix during the 4th quarter worth approximately $5,019,087,000. Proficio Capital Partners LLC raised its stake in Netflix by 123,836.7% in the 4th quarter. Proficio Capital Partners LLC now owns 1,925,977 shares of the Internet television network’s stock valued at $1,716,662,000 after purchasing an additional 1,924,423 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Netflix by 59.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,301,098 shares of the Internet television network’s stock valued at $2,051,016,000 after purchasing an additional 856,307 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Netflix by 318.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 976,924 shares of the Internet television network’s stock worth $870,752,000 after purchasing an additional 743,724 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of Netflix by 2.6% during the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after buying an additional 426,740 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Insider Activity at Netflix

In other news, Director Strive Masiyiwa sold 2,813 shares of the stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $1,007.87, for a total transaction of $2,835,138.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard N. Barton sold 6,364 shares of the business’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $879.38, for a total value of $5,596,374.32. Following the completion of the transaction, the director now owns 246 shares in the company, valued at $216,327.48. This trade represents a 96.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 280,676 shares of company stock valued at $273,515,672 in the last three months. 1.76% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

NFLX has been the topic of a number of recent research reports. UBS Group set a $1,000.00 price target on shares of Netflix in a research report on Monday, March 24th. Loop Capital restated a “hold” rating on shares of Netflix in a research report on Monday, March 24th. Seaport Res Ptn raised shares of Netflix from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 15th. Canaccord Genuity Group raised shares of Netflix from a “hold” rating to a “buy” rating and increased their price target for the company from $940.00 to $1,150.00 in a research note on Wednesday, January 22nd. Finally, Oppenheimer increased their price objective on Netflix from $1,040.00 to $1,150.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 22nd. Ten equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Netflix currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,023.74.

Netflix Stock Performance

Shares of Netflix stock opened at $935.52 on Thursday. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. Netflix, Inc. has a 52 week low of $542.01 and a 52 week high of $1,064.50. The firm’s 50 day moving average is $974.03 and its two-hundred day moving average is $873.22. The firm has a market capitalization of $400.18 billion, a P/E ratio of 47.18, a P/E/G ratio of 2.12 and a beta of 1.38.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results 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. The firm had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. Netflix’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period last year, the business earned $2.11 EPS. Research analysts forecast that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Netflix 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.