Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Mackay Shields LLC

Mackay Shields LLC cut its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 21.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 69,703 shares of the Internet television network’s stock after selling 18,858 shares during the period. Mackay Shields LLC’s holdings in Netflix were worth $36,817,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Netflix by 0.3% during the 2nd quarter. Vanguard Group Inc. now owns 33,372,371 shares of the Internet television network’s stock valued at $17,627,620,000 after buying an additional 113,836 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Netflix by 0.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,517,596 shares of the Internet television network’s stock worth $10,181,549,000 after purchasing an additional 86,712 shares during the period. Capital International Investors boosted its position in Netflix by 6.3% during the 1st quarter. Capital International Investors now owns 16,886,545 shares of the Internet television network’s stock worth $8,808,865,000 after purchasing an additional 998,090 shares during the period. Geode Capital Management LLC boosted its position in Netflix by 1.8% during the 2nd quarter. Geode Capital Management LLC now owns 6,874,069 shares of the Internet television network’s stock worth $3,619,475,000 after purchasing an additional 121,850 shares during the period. Finally, Magellan Asset Management Ltd boosted its position in Netflix by 16.5% during the 2nd quarter. Magellan Asset Management Ltd now owns 6,008,063 shares of the Internet television network’s stock worth $3,173,519,000 after purchasing an additional 850,245 shares during the period. 79.51% of the stock is owned by institutional investors.

In related news, CEO Theodore A. Sarandos sold 69,707 shares of Netflix stock in a transaction dated Monday, October 4th. The stock was sold at an average price of $625.00, for a total value of $43,566,875.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Gregory K. Peters sold 6,455 shares of the business’s stock in a transaction that occurred on Monday, October 4th. The stock was sold at an average price of $625.00, for a total value of $4,034,375.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 111,927 shares of company stock valued at $68,562,364. Corporate insiders own 3.40% of the company’s stock.

NFLX has been the subject of a number of analyst reports. KeyCorp upped their price objective on shares of Netflix from $645.00 to $670.00 and gave the company an “overweight” rating in a research report on Monday. Jefferies Financial Group increased their price objective on shares of Netflix from $620.00 to $737.00 and gave the stock a “buy” rating in a research note on Tuesday. Benchmark increased their price objective on shares of Netflix from $448.00 to $493.00 and gave the stock a “sell” rating in a research note on Wednesday, September 29th. They noted that the move was a valuation call. Oppenheimer restated a “buy” rating and issued a $620.00 price target on shares of Netflix in a research note on Wednesday, July 21st. Finally, Robert W. Baird raised their price target on shares of Netflix from $650.00 to $680.00 and gave the company an “outperform” rating in a research note on Tuesday. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirty have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $637.32.

NASDAQ NFLX traded up $4.16 during trading on Thursday, reaching $633.92. 85,804 shares of the stock traded hands, compared to its average volume of 4,071,269. The firm has a market cap of $280.57 billion, a price-to-earnings ratio of 65.65, a price-to-earnings-growth ratio of 1.88 and a beta of 0.76. The stock’s 50-day moving average price is $576.04 and its 200 day moving average price is $536.89. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.08. Netflix, Inc. has a fifty-two week low of $463.41 and a fifty-two week high of $646.84.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Monday, July 19th. The Internet television network reported $2.97 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.16 by ($0.19). The firm had revenue of $7.34 billion for the quarter, compared to analyst estimates of $7.32 billion. Netflix had a net margin of 15.92% and a return on equity of 36.49%. The firm’s revenue for the quarter was up 19.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.59 EPS. Analysts anticipate that Netflix, Inc. will post 10.38 EPS for the current fiscal year.

About Netflix

Netflix, Inc operates as a streaming entertainment service company. The firm provides subscription service streaming movies and television episodes over the Internet and sending DVDs by mail. It operates through the following segments: Domestic Streaming, International Streaming and Domestic DVD. The Domestic Streaming segment derives revenues from monthly membership fees for services consisting of streaming content to its members in the United States.

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Institutional Ownership by Quarter for Netflix (NASDAQ:NFLX)

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