RiverPark Advisors LLC Sells 693 Shares of Netflix, Inc. (NASDAQ:NFLX)

RiverPark Advisors LLC lowered its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 15.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,679 shares of the Internet television network’s stock after selling 693 shares during the period. Netflix makes up 2.1% of RiverPark Advisors LLC’s portfolio, making the stock its 14th biggest position. RiverPark Advisors LLC’s holdings in Netflix were worth $2,609,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NFLX. International Assets Investment Management LLC boosted its holdings in Netflix by 116,620.0% during the third quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock worth $4,080,522,000 after buying an additional 5,748,200 shares during the last quarter. GQG Partners LLC bought a new position in Netflix during the first quarter worth about $1,450,476,000. Assenagon Asset Management S.A. boosted its holdings in Netflix by 154.7% during the third quarter. Assenagon Asset Management S.A. now owns 1,058,431 shares of the Internet television network’s stock worth $750,713,000 after buying an additional 642,920 shares during the last quarter. Jericho Capital Asset Management L.P. bought a new position in Netflix during the first quarter worth about $372,293,000. Finally, Swedbank AB bought a new position in Netflix during the first quarter worth about $216,538,000. Institutional investors own 80.93% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on NFLX. Oppenheimer raised their price target on Netflix from $775.00 to $825.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Canaccord Genuity Group raised their price target on Netflix from $750.00 to $760.00 and gave the stock a “hold” rating in a research report on Friday, October 18th. Wolfe Research reaffirmed an “outperform” rating on shares of Netflix in a research report on Friday, October 18th. Piper Sandler reaffirmed an “overweight” rating and set a $840.00 price target (up previously from $800.00) on shares of Netflix in a research report on Friday, October 18th. Finally, Macquarie reaffirmed an “outperform” rating and set a $795.00 price target on shares of Netflix in a research report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat.com, Netflix currently has a consensus rating of “Moderate Buy” and an average target price of $748.15.

Netflix Stock Performance

Shares of NASDAQ NFLX opened at $823.96 on Friday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. Netflix, Inc. has a 12 month low of $445.73 and a 12 month high of $841.00. The stock has a 50 day moving average of $735.77 and a 200-day moving average of $680.46. The company has a market capitalization of $352.21 billion, a P/E ratio of 46.63, a P/E/G ratio of 1.59 and a beta of 1.25.

Netflix (NASDAQ:NFLX) last issued its earnings results on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, topping the consensus estimate of $5.09 by $0.31. The company had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.77 billion. Netflix had a return on equity of 35.86% and a net margin of 20.70%. As a group, equities research analysts predict that Netflix, Inc. will post 19.78 EPS for the current year.

Insider Activity at Netflix

In related news, CEO Gregory K. Peters sold 4,644 shares of the business’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $700.00, for a total value of $3,250,800.00. Following the completion of the sale, the chief executive officer now directly owns 13,090 shares in the company, valued at $9,163,000. The trade was a 26.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Timothy M. Haley sold 11,090 shares of Netflix stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $757.96, for a total value of $8,405,776.40. The disclosure for this sale can be found here. Insiders sold 205,084 shares of company stock worth $146,747,101 in the last ninety days. 1.76% of the stock is owned by company insiders.

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.