Oxbow Advisors LLC Lowers Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Oxbow Advisors LLC cut its holdings in Netflix, Inc. (NASDAQ:NFLX) by 26.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 595 shares of the Internet television network’s stock after selling 214 shares during the quarter. Oxbow Advisors LLC’s holdings in Netflix were worth $402,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of NFLX. Vanguard Group Inc. grew its stake in shares of Netflix by 0.4% in the first quarter. Vanguard Group Inc. now owns 36,587,911 shares of the Internet television network’s stock worth $22,220,936,000 after acquiring an additional 149,341 shares during the last quarter. Capital World Investors increased its stake in Netflix by 0.7% during the 4th quarter. Capital World Investors now owns 11,744,636 shares of the Internet television network’s stock valued at $5,718,265,000 after purchasing an additional 78,320 shares in the last quarter. Jennison Associates LLC raised its holdings in Netflix by 17.0% in the first quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock worth $3,875,655,000 after buying an additional 929,193 shares during the last quarter. Norges Bank bought a new position in shares of Netflix in the fourth quarter worth approximately $2,558,598,000. Finally, Baillie Gifford & Co. grew its holdings in shares of Netflix by 2.3% during the second quarter. Baillie Gifford & Co. now owns 4,762,069 shares of the Internet television network’s stock valued at $3,213,825,000 after buying an additional 106,756 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors.

Netflix Stock Performance

Shares of NFLX stock traded down $17.85 during trading hours on Friday, hitting $665.77. The company’s stock had a trading volume of 2,991,265 shares, compared to its average volume of 3,796,436. The stock has a market cap of $286.95 billion, a PE ratio of 46.20, a price-to-earnings-growth ratio of 1.44 and a beta of 1.27. Netflix, Inc. has a 12-month low of $344.73 and a 12-month high of $711.33. The company has a 50 day moving average of $659.89 and a 200 day moving average of $633.82. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.74 by $0.14. The company had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $9.53 billion. Netflix had a return on equity of 32.93% and a net margin of 19.54%. Netflix’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same period in the previous year, the company posted $3.29 earnings per share. On average, sell-side analysts forecast that Netflix, Inc. will post 19.08 EPS for the current fiscal year.

Insider Transactions at Netflix

In other Netflix news, Chairman Reed Hastings sold 25,074 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $680.92, for a total value of $17,073,388.08. Following the transaction, the chairman now owns 85 shares in the company, valued at approximately $57,878.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Netflix news, insider David A. Hyman sold 13,791 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $700.00, for a total value of $9,653,700.00. Following the transaction, the insider now directly owns 31,610 shares in the company, valued at approximately $22,127,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Reed Hastings sold 25,074 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $680.92, for a total transaction of $17,073,388.08. Following the sale, the chairman now owns 85 shares of the company’s stock, valued at approximately $57,878.20. The disclosure for this sale can be found here. Insiders sold 157,831 shares of company stock valued at $102,721,884 over the last 90 days. Corporate insiders own 1.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on NFLX shares. Sanford C. Bernstein upped their target price on shares of Netflix from $600.00 to $625.00 and gave the company a “market perform” rating in a research note on Friday, July 19th. Needham & Company LLC restated a “buy” rating and issued a $700.00 target price on shares of Netflix in a report on Friday, July 19th. Redburn Atlantic lifted their target price on shares of Netflix from $740.00 to $760.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Evercore ISI increased their price target on Netflix from $710.00 to $750.00 and gave the company an “outperform” rating in a report on Tuesday, August 27th. Finally, China Renaissance assumed coverage on Netflix in a report on Thursday. They issued a “hold” rating and a $680.00 price objective for the company. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $685.29.

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.