Ocean Capital Management LLC Sells 1,833 Shares of Netflix, Inc. (NASDAQ:NFLX)

Ocean Capital Management LLC decreased its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 18.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,155 shares of the Internet television network’s stock after selling 1,833 shares during the quarter. Netflix comprises 1.6% of Ocean Capital Management LLC’s holdings, making the stock its 13th largest holding. Ocean Capital Management LLC’s holdings in Netflix were worth $3,971,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of NFLX. Fairfield Bush & CO. increased its stake in Netflix by 26.5% during the 1st quarter. Fairfield Bush & CO. now owns 2,446 shares of the Internet television network’s stock valued at $916,000 after purchasing an additional 512 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Netflix by 21.3% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 480,044 shares of the Internet television network’s stock valued at $179,820,000 after buying an additional 84,179 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in shares of Netflix by 14.2% during the first quarter. Sequoia Financial Advisors LLC now owns 2,922 shares of the Internet television network’s stock valued at $1,094,000 after buying an additional 363 shares during the last quarter. Candriam Luxembourg S.C.A. increased its position in shares of Netflix by 6.9% during the first quarter. Candriam Luxembourg S.C.A. now owns 36,336 shares of the Internet television network’s stock worth $13,610,000 after acquiring an additional 2,358 shares in the last quarter. Finally, Brown Brothers Harriman & Co. raised its holdings in shares of Netflix by 13.1% in the 1st quarter. Brown Brothers Harriman & Co. now owns 3,808 shares of the Internet television network’s stock worth $1,426,000 after acquiring an additional 441 shares during the last quarter. Institutional investors own 80.93% of the company’s stock.

Insider Buying and Selling at Netflix

In other news, Chairman Reed Hastings sold 25,998 shares of the company’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $470.51, for a total value of $12,232,318.98. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Chairman Reed Hastings sold 25,998 shares of Netflix stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $470.51, for a total transaction of $12,232,318.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David A. Hyman sold 47,574 shares of the business’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 transaction, 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 273,767 shares of company stock valued at $151,298,232 in the last three months. Company insiders own 2.45% of the company’s stock.

Netflix Price Performance

Netflix stock opened at $607.33 on Friday. 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 one year low of $315.62 and a one year high of $634.39. The firm has a market capitalization of $262.83 billion, a P/E ratio of 50.57, a PEG ratio of 1.66 and a beta of 1.22. The business has a fifty day moving average price of $581.81 and a 200-day moving average price of $487.70.

Netflix (NASDAQ:NFLX) last issued its earnings results on Tuesday, January 23rd. The Internet television network reported $2.11 EPS for the quarter, missing the consensus estimate of $2.20 by ($0.09). The company had revenue of $8.83 billion during the quarter, compared to the consensus estimate of $8.72 billion. Netflix had a return on equity of 24.76% and a net margin of 16.04%. The firm’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.12 EPS. As a group, equities research analysts forecast that Netflix, Inc. will post 17.01 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NFLX. Jefferies Financial Group lifted their price target on Netflix from $580.00 to $700.00 and gave the company a “buy” rating in a research note on Tuesday, March 12th. Macquarie upgraded Netflix from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $410.00 to $595.00 in a research note on Wednesday, January 24th. Morgan Stanley upped their target price on shares of Netflix from $550.00 to $600.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. TD Cowen raised their price target on shares of Netflix from $565.00 to $600.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Finally, Citigroup upped their price objective on shares of Netflix from $555.00 to $660.00 and gave the stock a “neutral” rating in a research report on Monday. One equities research 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $583.18.

Netflix Company 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.