DnB Asset Management AS Cuts Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

DnB Asset Management AS cut its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 19.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 142,503 shares of the Internet television network's stock after selling 35,215 shares during the period. DnB Asset Management AS's holdings in Netflix were worth $127,016,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Nordea Investment Management AB grew its holdings in Netflix by 22.7% during the 4th quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network's stock worth $760,918,000 after acquiring an additional 156,958 shares in the last quarter. First National Trust Co boosted its stake in shares of Netflix by 1.0% during the fourth quarter. First National Trust Co now owns 1,258 shares of the Internet television network's stock valued at $1,121,000 after purchasing an additional 12 shares in the last quarter. Haven Private LLC purchased a new position in Netflix during the fourth quarter valued at approximately $733,000. Sigma Planning Corp raised its stake in Netflix by 7.4% in the fourth quarter. Sigma Planning Corp now owns 5,572 shares of the Internet television network's stock worth $4,966,000 after buying an additional 386 shares in the last quarter. Finally, M&T Bank Corp lifted its holdings in Netflix by 4.2% during the third quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network's stock worth $29,751,000 after buying an additional 1,684 shares during the period. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Netflix Stock Performance

Shares of NFLX traded down $42.87 during mid-day trading on Friday, reaching $933.85. The company had a trading volume of 4,417,691 shares, compared to its average volume of 3,583,146. The stock has a 50 day moving average of $971.74 and a two-hundred day moving average of $868.10. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $399.46 billion, a P/E ratio of 47.09, a PEG ratio of 2.12 and a beta of 1.38. Netflix, Inc. has a 52-week low of $542.01 and a 52-week high of $1,064.50.

Netflix (NASDAQ:NFLX - Get Free Report) last released its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, topping the consensus estimate of $4.20 by $0.07. The business had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10.14 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The business's quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.11 EPS. On average, analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on NFLX shares. Sanford C. Bernstein upgraded Netflix from a "market perform" rating to an "outperform" rating and lifted their price target for the company from $975.00 to $1,200.00 in a report on Friday, January 24th. Wolfe Research upgraded Netflix from a "peer perform" rating to an "outperform" rating and set a $1,100.00 target price on the stock in a research note on Thursday, January 23rd. BMO Capital Markets reissued an "outperform" rating and set a $1,175.00 price target (up from $1,000.00) on shares of Netflix in a research report on Wednesday, January 22nd. FBN Securities began coverage on shares of Netflix in a research report on Thursday. They issued an "outperform" rating and a $1,165.00 price objective on the stock. Finally, Moffett Nathanson upgraded shares of Netflix from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $850.00 to $1,100.00 in a research note on Monday, March 17th. Ten investment analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $1,021.02.

Insider Buying and Selling

In related news, Director Ann Mather sold 2,682 shares of the company's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $973.00, for a total value of $2,609,586.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Jeffrey William Karbowski sold 480 shares of the firm's stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $978.18, for a total value of $469,526.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 288,583 shares of company stock valued at $279,611,567. Corporate insiders own 1.76% of the company's stock.

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.