Pitcairn Co. Reduces Position in Netflix, Inc. (NASDAQ:NFLX)

Pitcairn Co. decreased its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 13.4% during the third quarter, according to its most recent filing with the SEC. The firm owned 5,300 shares of the Internet television network's stock after selling 821 shares during the period. Pitcairn Co.'s holdings in Netflix were worth $3,759,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in NFLX. Denver PWM LLC acquired a new position in shares of Netflix during the second quarter worth about $25,000. Proffitt & Goodson Inc. boosted its holdings in Netflix by 380.0% in the second quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network's stock valued at $32,000 after acquiring an additional 38 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. raised its position in shares of Netflix by 700.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network's stock valued at $34,000 after acquiring an additional 42 shares during the last quarter. AlphaMark Advisors LLC lifted its stake in Netflix by 642.9% in the second quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network's stock valued at $35,000 after buying an additional 45 shares during the period. Finally, MidAtlantic Capital Management Inc. bought a new stake in shares of Netflix in the third quarter valued at about $37,000. Institutional investors own 80.93% of the company's stock.

Insider Buying and Selling at Netflix

In related news, Chairman Reed Hastings sold 25,074 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $680.92, for a total transaction of $17,073,388.08. Following the sale, the chairman now owns 85 shares in the company, valued at approximately $57,878.20. This represents a 99.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Timothy M. Haley sold 11,090 shares of the company's stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $757.96, for a total value of $8,405,776.40. The disclosure for this sale can be found here. Insiders sold 185,866 shares of company stock valued at $133,393,921 in the last quarter. Company insiders own 1.76% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Oppenheimer lifted their price objective on shares of Netflix from $775.00 to $825.00 and gave the company an "outperform" rating in a research report on Friday, October 18th. BMO Capital Markets restated an "outperform" rating and set a $825.00 price objective (up previously from $770.00) on shares of Netflix in a research report on Friday, October 18th. Loop Capital increased their price target on shares of Netflix from $750.00 to $800.00 and gave the company a "buy" rating in a research note on Wednesday, October 16th. Wolfe Research reiterated an "outperform" rating on shares of Netflix in a research note on Friday, October 18th. Finally, Benchmark reaffirmed a "sell" rating and issued a $545.00 price target on shares of Netflix in a research note on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $764.82.

Netflix Price Performance

NFLX stock traded up $0.31 on Friday, reaching $897.79. 3,214,020 shares of the company's stock were exchanged, compared to its average volume of 3,065,728. The stock has a fifty day moving average of $755.40 and a 200-day moving average of $690.34. Netflix, Inc. has a twelve month low of $445.73 and a twelve month high of $908.00. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. The firm has a market cap of $383.77 billion, a PE ratio of 50.81, a P/E/G ratio of 1.73 and a beta of 1.25.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, topping the consensus estimate of $5.09 by $0.31. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The company had revenue of $9.82 billion during the quarter, compared to analysts' expectations of $9.77 billion. As a group, equities analysts predict that Netflix, Inc. will post 19.78 EPS for the current fiscal year.

About Netflix

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.