Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Magellan Asset Management Ltd

Magellan Asset Management Ltd decreased its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 27.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 353,848 shares of the Internet television network's stock after selling 133,535 shares during the period. Netflix accounts for 3.5% of Magellan Asset Management Ltd's investment portfolio, making the stock its 7th biggest holding. Magellan Asset Management Ltd owned approximately 0.08% of Netflix worth $315,392,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in NFLX. Norges Bank acquired a new position in shares of Netflix in the fourth quarter valued at $5,019,087,000. Proficio Capital Partners LLC lifted its holdings in shares of Netflix by 123,836.7% during the 4th quarter. Proficio Capital Partners LLC now owns 1,925,977 shares of the Internet television network's stock worth $1,716,662,000 after acquiring an additional 1,924,423 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in shares of Netflix by 59.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,301,098 shares of the Internet television network's stock valued at $2,051,016,000 after acquiring an additional 856,307 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Netflix by 318.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 976,924 shares of the Internet television network's stock valued at $870,752,000 after acquiring an additional 743,724 shares during the period. Finally, State Street Corp raised its holdings in shares of Netflix by 2.6% in the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network's stock worth $12,023,082,000 after buying an additional 426,740 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors.

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Netflix Stock Down 2.0 %

NASDAQ:NFLX traded down $18.47 on Thursday, hitting $917.05. 5,855,995 shares of the company's stock were exchanged, compared to its average volume of 3,609,504. The firm has a 50-day moving average price of $972.68 and a 200-day moving average price of $873.52. Netflix, Inc. has a 52 week low of $542.01 and a 52 week high of $1,064.50. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. The company has a market cap of $392.27 billion, a P/E ratio of 46.25, a price-to-earnings-growth ratio of 2.12 and a beta of 1.38.

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Bank of America lifted their price objective on Netflix from $1,000.00 to $1,175.00 and gave the company a "buy" rating in a report on Wednesday, January 22nd. Evercore ISI upped their price objective on shares of Netflix from $950.00 to $1,100.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 22nd. Wedbush reiterated an "outperform" rating and issued a $1,150.00 target price (up previously from $950.00) on shares of Netflix in a research note on Wednesday, January 22nd. Argus increased their target price on Netflix from $840.00 to $1,040.00 and gave the stock a "buy" rating in a report on Monday, January 6th. Finally, Loop Capital reaffirmed a "hold" rating on shares of Netflix in a report on Monday, March 24th. Ten equities research 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 company currently has a consensus rating of "Moderate Buy" and an average price target of $1,023.74.

Insider Activity

In other Netflix news, Director Strive Masiyiwa sold 2,813 shares of the firm's stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $1,007.87, for a total transaction of $2,835,138.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Richard N. Barton sold 6,364 shares of the company's stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $879.38, for a total transaction of $5,596,374.32. Following the completion of the transaction, the director now owns 246 shares in the company, valued at approximately $216,327.48. This represents a 96.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 280,676 shares of company stock valued at $273,515,672. 1.76% of the stock is owned by company insiders.

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.