Wilkinson Global Asset Management LLC Sells 101 Shares of Netflix, Inc. (NASDAQ:NFLX)

Wilkinson Global Asset Management LLC reduced its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 23.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 339 shares of the Internet television network’s stock after selling 101 shares during the period. Wilkinson Global Asset Management LLC’s holdings in Netflix were worth $229,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Netflix by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 36,587,911 shares of the Internet television network’s stock valued at $22,220,936,000 after purchasing an additional 149,341 shares during the last quarter. Capital World Investors increased its stake in shares of Netflix by 0.7% in 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 stake in shares of Netflix by 17.0% during the 1st 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 period. Norges Bank acquired a new position in Netflix during the fourth quarter worth $2,558,598,000. Finally, Baillie Gifford & Co. lifted its stake in Netflix by 2.3% in the 2nd 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 in the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Citigroup raised their price objective on Netflix from $660.00 to $675.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Bank of America boosted their price target on shares of Netflix from $700.00 to $740.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Piper Sandler increased their price objective on shares of Netflix from $600.00 to $650.00 and gave the company a “neutral” rating in a report on Friday, July 19th. Evercore ISI boosted their target price on Netflix from $710.00 to $750.00 and gave the stock an “outperform” rating in a report on Tuesday, August 27th. Finally, Morgan Stanley increased their price target on Netflix from $700.00 to $780.00 and gave the company an “overweight” rating in a report on Monday, July 15th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat, Netflix currently has a consensus rating of “Moderate Buy” and an average price target of $685.29.

Netflix Stock Down 2.6 %

Netflix stock traded down $17.85 during mid-day trading on Friday, reaching $665.77. 2,991,265 shares of the company’s stock were exchanged, compared to its average volume of 3,796,436. The company has a fifty day moving average of $659.89 and a 200-day moving average of $634.23. The company has a market cap of $286.95 billion, a P/E ratio of 46.20, a P/E/G ratio of 1.44 and a beta of 1.26. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.55. Netflix, Inc. has a twelve month low of $344.73 and a twelve month high of $711.33.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.74 by $0.14. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The business had revenue of $9.56 billion for the quarter, compared to analysts’ expectations of $9.53 billion. During the same period last year, the firm earned $3.29 earnings per share. The company’s revenue for the quarter was up 16.8% compared to the same quarter last year. Sell-side analysts expect that Netflix, Inc. will post 19.08 EPS for the current year.

Insider Activity

In related news, CEO Gregory K. Peters sold 4,783 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $675.00, for a total transaction of $3,228,525.00. Following the sale, the chief executive officer now directly owns 13,090 shares in the company, valued at $8,835,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Netflix news, CEO Gregory K. Peters sold 4,783 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $675.00, for a total transaction of $3,228,525.00. Following the completion of the transaction, the chief executive officer now owns 13,090 shares in the company, valued at approximately $8,835,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David A. Hyman sold 20,656 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the completion of the sale, the insider now owns 31,610 shares in the company, valued at $19,128,159.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 157,831 shares of company stock worth $102,721,884. 1.76% of the stock is currently owned by company insiders.

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.