Desjardins Global Asset Management Inc. Sells 68,809 Shares of Netflix, Inc. (NASDAQ:NFLX)

Desjardins Global Asset Management Inc. trimmed its holdings in Netflix, Inc. (NASDAQ:NFLX) by 89.4% in the 4th quarter, Holdings Channel reports. The fund owned 8,121 shares of the Internet television network’s stock after selling 68,809 shares during the quarter. Desjardins Global Asset Management Inc.’s holdings in Netflix were worth $3,954,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NFLX. Regent Peak Wealth Advisors LLC increased its position in shares of Netflix by 1.6% during the 4th quarter. Regent Peak Wealth Advisors LLC now owns 1,304 shares of the Internet television network’s stock worth $635,000 after purchasing an additional 21 shares during the last quarter. Centurion Wealth Management LLC increased its position in shares of Netflix by 2.4% during the 4th quarter. Centurion Wealth Management LLC now owns 984 shares of the Internet television network’s stock worth $479,000 after purchasing an additional 23 shares during the last quarter. Secure Asset Management LLC increased its position in shares of Netflix by 2.7% during the 4th quarter. Secure Asset Management LLC now owns 903 shares of the Internet television network’s stock worth $440,000 after purchasing an additional 24 shares during the last quarter. Gordian Capital Singapore Pte Ltd increased its position in shares of Netflix by 0.3% during the 2nd quarter. Gordian Capital Singapore Pte Ltd now owns 9,821 shares of the Internet television network’s stock worth $4,326,000 after purchasing an additional 25 shares during the last quarter. Finally, Key Financial Inc increased its position in shares of Netflix by 14.4% during the 3rd quarter. Key Financial Inc now owns 199 shares of the Internet television network’s stock worth $75,000 after purchasing an additional 25 shares during the last quarter. 80.93% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on NFLX shares. Evercore ISI boosted their target price on Netflix from $600.00 to $640.00 and gave the stock an “outperform” rating in a report on Thursday, March 14th. Robert W. Baird boosted their target price on Netflix from $500.00 to $600.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Redburn Atlantic boosted their target price on Netflix from $550.00 to $610.00 and gave the stock a “buy” rating in a report on Wednesday, January 24th. Oppenheimer boosted their target price on Netflix from $615.00 to $725.00 and gave the stock an “outperform” rating in a report on Monday, March 11th. Finally, Loop Capital boosted their target price on Netflix from $585.00 to $700.00 and gave the stock a “buy” rating in a report on Monday, March 18th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $603.48.

Netflix Price Performance

Shares of NFLX stock traded up $13.18 on Tuesday, hitting $620.33. 2,628,469 shares of the company’s stock were exchanged, compared to its average volume of 4,240,831. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.12 and a quick ratio of 1.12. Netflix, Inc. has a 12 month low of $315.62 and a 12 month high of $639.00. The stock has a market cap of $268.45 billion, a P/E ratio of 51.70, a price-to-earnings-growth ratio of 1.69 and a beta of 1.22. The company has a 50 day moving average of $602.41 and a 200 day moving average of $508.76.

Netflix (NASDAQ:NFLX) last issued its earnings results on Tuesday, January 23rd. The Internet television network reported $2.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.09). Netflix had a return on equity of 24.76% and a net margin of 16.04%. The firm had revenue of $8.83 billion during the quarter, compared to analyst estimates of $8.72 billion. During the same period in the previous year, the company earned $0.12 EPS. Netflix’s revenue for the quarter was up 12.5% on a year-over-year basis. On average, equities research analysts predict that Netflix, Inc. will post 17.02 EPS for the current year.

Insiders Place Their Bets

In other Netflix news, insider David A. Hyman sold 47,574 shares of the company’s stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $537.92, for a total value of $25,591,006.08. Following the completion of the transaction, the insider now owns 31,610 shares of the company’s stock, valued at approximately $17,003,651.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Chairman Reed Hastings sold 20,566 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $610.42, for a total value of $12,553,897.72. Following the completion of the sale, the chairman now owns 28 shares of the company’s stock, valued at $17,091.76. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider David A. Hyman sold 47,574 shares of the stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $537.92, for a total value of $25,591,006.08. Following the completion of the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $17,003,651.20. The disclosure for this sale can be found here. Insiders sold a total of 268,335 shares of company stock valued at $151,619,811 in the last 90 days. Corporate insiders own 2.45% of the company’s stock.

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.