Netflix, Inc. $NFLX Shares Sold by M&G PLC

M&G PLC cut its stake in Netflix, Inc. (NASDAQ:NFLX) by 68.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 16,646 shares of the Internet television network’s stock after selling 36,943 shares during the period. M&G PLC’s holdings in Netflix were worth $1,165,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in NFLX. Vestor Capital LLC lifted its holdings in Netflix by 19.1% in the third quarter. Vestor Capital LLC now owns 1,072 shares of the Internet television network’s stock valued at $75,000 after buying an additional 172 shares during the period. Retirement Systems of Alabama boosted its position in Netflix by 20.0% during the third quarter. Retirement Systems of Alabama now owns 1,933,969 shares of the Internet television network’s stock valued at $134,566,000 after acquiring an additional 322,558 shares during the last quarter. Private Management Group Inc. grew its holdings in Netflix by 220.5% during the 3rd quarter. Private Management Group Inc. now owns 11,185 shares of the Internet television network’s stock worth $778,000 after acquiring an additional 7,695 shares during the period. Fulcrum Asset Management LLP grew its holdings in Netflix by 141.6% during the 3rd quarter. Fulcrum Asset Management LLP now owns 51,818 shares of the Internet television network’s stock worth $3,643,000 after acquiring an additional 30,368 shares during the period. Finally, StoneRidge PMG Advisors LLC bought a new position in shares of Netflix in the 3rd quarter worth about $651,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

Insider Activity at Netflix

In related news, CEO Theodore A. Sarandos sold 27,312 shares of Netflix stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $66.20, for a total value of $1,808,054.40. Following the completion of the sale, the chief executive officer owned 178,954 shares of the company’s stock, valued at approximately $11,846,754.80. This trade represents a 13.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider David A. Hyman sold 5,727 shares of the business’s stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $64.55, for a total transaction of $369,677.85. Following the sale, the insider owned 166,100 shares of the company’s stock, valued at $10,721,755. This trade represents a 3.33% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 89,024 shares of company stock valued at $5,788,733 over the last three months. 1.24% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

NFLX has been the topic of a number of recent analyst reports. Sanford C. Bernstein reissued an “outperform” rating and issued a $80.00 price objective (down from $95.00) on shares of Netflix in a research note on Wednesday, October 21st. DZ Bank reaffirmed a “buy” rating on shares of Netflix in a research note on Monday, July 20th. China Renaissance decreased their target price on Netflix from $100.00 to $80.00 and set a “hold” rating for the company in a research note on Friday, July 17th. HSBC lowered Netflix from a “buy” rating to a “hold” rating and dropped their price target for the company from $96.00 to $76.00 in a research note on Tuesday, September 22nd. Finally, Rosenblatt Securities set a $71.00 price objective on shares of Netflix and gave the company a “neutral” rating in a research note on Wednesday, October 21st. Two research analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating, seventeen have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $89.14.

Netflix News Roundup

These are some of the NFLX news items that stood out recently:

• Positive Sentiment: Netflix’s latest reported quarter showed EPS of $0.87, above the $0.82 consensus, while revenue grew 11.9% year over year. That growth and earnings performance offer some support amid the stock’s selloff.
• Neutral Sentiment: Netflix expects about $12 billion in free cash flow this year and has spent more than $10.7 billion on share repurchases through September. The company has not announced a dividend, so returns to shareholders are currently centered on buybacks. Article: Will Netflix Ever Pay a Dividend?
• Neutral Sentiment: A lender is marketing a loan tied to a Hollywood office campus fully leased to Netflix through 2031. The loan is associated with the property owner, Clarion Partners, rather than being reported as Netflix’s own debt. Article: Clarion Partners’ loan on Netflix-occupied Hollywood campus hits market

Netflix Stock Up 2.0%

NFLX stock opened at $64.54 on Thursday. The stock’s 50 day simple moving average is $70.00 and its 200 day simple moving average is $80.65. The company has a market cap of $265.02 billion, a P/E ratio of 18.65, a price-to-earnings-growth ratio of 0.93 and a beta of 1.62. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.07 and a current ratio of 1.07. Netflix, Inc. has a fifty-two week low of $61.39 and a fifty-two week high of $116.73.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Tuesday, October 20th. The Internet television network reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.05. The firm had revenue of $12.87 billion during the quarter, compared to analysts’ expectations of $12.87 billion. Netflix had a return on equity of 42.69% and a net margin of 29.69%. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.59 earnings per share. On average, research analysts expect that Netflix, Inc. will post 3.59 earnings per share for the current fiscal year.

Netflix Company Profile

Netflix, Inc. is an entertainment company that offers subscription-based streaming of television series, films, documentaries and other programming. Its service also includes mobile games and, in some markets, advertising-supported viewing plans. Netflix produces and licenses content, including titles made under its Netflix brand. Founded in 1997 by Reed Hastings and Marc Randolph as a DVD-by-mail rental business, the company launched its streaming service in 2007 and later expanded into original programming.