Intech Investment Management LLC Sells 17,037 Shares of Netflix, Inc. (NASDAQ:NFLX)

Intech Investment Management LLC cut its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 14.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 101,547 shares of the Internet television network’s stock after selling 17,037 shares during the period. Netflix comprises about 0.8% of Intech Investment Management LLC’s investment portfolio, making the stock its 14th largest position. Intech Investment Management LLC’s holdings in Netflix were worth $72,024,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. DigitalBridge Group Inc. boosted its stake in Netflix by 35.5% in the 2nd quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock valued at $24,338,000 after buying an additional 9,451 shares in the last quarter. Natixis Advisors LLC boosted its stake in Netflix by 2.0% in the 3rd quarter. Natixis Advisors LLC now owns 612,458 shares of the Internet television network’s stock valued at $434,398,000 after buying an additional 11,921 shares in the last quarter. Venturi Wealth Management LLC boosted its stake in Netflix by 27.5% in the third quarter. Venturi Wealth Management LLC now owns 3,077 shares of the Internet television network’s stock worth $2,182,000 after purchasing an additional 664 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in Netflix by 58.2% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 82,931 shares of the Internet television network’s stock worth $55,968,000 after purchasing an additional 30,511 shares in the last quarter. Finally, Forsta AP Fonden boosted its stake in Netflix by 7.7% in the third quarter. Forsta AP Fonden now owns 121,400 shares of the Internet television network’s stock worth $86,105,000 after purchasing an additional 8,700 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Insider Transactions at Netflix

In related news, Director Leslie J. Kilgore sold 358 shares of the stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $765.00, for a total transaction of $273,870.00. Following the completion of the transaction, the director now directly owns 35,262 shares of the company’s stock, valued at approximately $26,975,430. This represents a 1.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider David A. Hyman sold 267 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total value of $204,433.89. Following the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at $24,202,828.70. This trade represents a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 185,866 shares of company stock valued at $133,393,921 over the last three months. Company insiders own 1.76% of the company’s stock.

Netflix Stock Up 1.4 %

NFLX stock opened at $883.85 on Thursday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. The stock has a market capitalization of $377.81 billion, a P/E ratio of 50.02, a P/E/G ratio of 1.68 and a beta of 1.25. The business has a 50-day moving average of $747.20 and a 200-day moving average of $686.80. Netflix, Inc. has a fifty-two week low of $445.73 and a fifty-two week high of $890.60.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 earnings per share 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 analysts’ expectations of $9.77 billion. Netflix had a return on equity of 35.86% and a net margin of 20.70%. On average, sell-side analysts anticipate that Netflix, Inc. will post 19.78 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

NFLX has been the topic of a number of recent analyst reports. Bank of America boosted their price objective on Netflix from $740.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. TD Cowen boosted their price objective on Netflix from $820.00 to $835.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Benchmark reissued a “sell” rating and issued a $545.00 price objective on shares of Netflix in a research note on Tuesday, October 15th. Oppenheimer boosted their price objective on Netflix from $775.00 to $825.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. Finally, Sanford C. Bernstein boosted their price objective on Netflix from $625.00 to $780.00 and gave the stock a “market perform” rating in a research note 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 given a 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 price target of $758.76.

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.