Clearbridge Investments LLC Sells 336,453 Shares of Netflix, Inc. (NASDAQ:NFLX)

Clearbridge Investments LLC cut its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 15.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,891,858 shares of the Internet television network's stock after selling 336,453 shares during the quarter. Netflix comprises about 1.4% of Clearbridge Investments LLC's investment portfolio, making the stock its 10th biggest position. Clearbridge Investments LLC owned 0.44% of Netflix worth $1,686,251,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Netflix by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 37,488,005 shares of the Internet television network's stock valued at $33,413,809,000 after buying an additional 171,712 shares during the last quarter. State Street Corp raised its position in shares of Netflix by 2.6% during the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network's stock worth $12,023,082,000 after purchasing an additional 426,740 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Netflix by 1.4% in the third quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network's stock worth $6,464,736,000 after buying an additional 123,029 shares during the period. Norges Bank purchased a new position in shares of Netflix during the fourth quarter valued at $5,019,087,000. Finally, Wellington Management Group LLP lifted its position in shares of Netflix by 0.5% in the third quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network's stock worth $3,473,571,000 after purchasing an additional 23,702 shares in the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Activity

In related news, CAO Jeffrey William Karbowski sold 480 shares of the business's stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $986.75, for a total transaction of $473,640.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider David A. Hyman sold 424 shares of the firm's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $994.63, for a total transaction of $421,723.12. Following the completion of the sale, the insider now owns 31,610 shares of the company's stock, valued at $31,440,254.30. This trade represents a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 288,583 shares of company stock worth $279,611,567 in the last quarter. Corporate insiders own 1.76% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. upped their price objective on shares of Netflix from $1,000.00 to $1,150.00 and gave the stock an "overweight" rating in a report on Wednesday, January 22nd. Canaccord Genuity Group raised shares of Netflix from a "hold" rating to a "buy" rating and increased their price target for the company from $940.00 to $1,150.00 in a report on Wednesday, January 22nd. BMO Capital Markets reissued an "outperform" rating and issued a $1,175.00 price target (up previously from $1,000.00) on shares of Netflix in a report on Wednesday, January 22nd. Phillip Securities lowered Netflix from a "hold" rating to a "moderate sell" rating in a research note on Friday, January 24th. Finally, FBN Securities initiated coverage on shares of Netflix in a research report on Thursday, March 27th. They issued an "outperform" rating and a $1,165.00 price target on the stock. Ten investment analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $1,021.02.

Netflix Stock Up 1.1 %

NFLX stock traded up $10.17 during trading hours on Wednesday, reaching $938.55. 1,989,646 shares of the stock were exchanged, compared to its average volume of 3,586,820. The firm's 50-day moving average is $974.40 and its 200-day moving average is $872.78. Netflix, Inc. has a 12 month low of $542.01 and a 12 month high of $1,064.50. The company has a market cap of $401.47 billion, a price-to-earnings ratio of 47.33, a PEG ratio of 2.12 and a beta of 1.38. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) 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 business had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10.14 billion. During the same quarter last year, the firm earned $2.11 EPS. Netflix's revenue for the quarter was up 16.0% compared to the same quarter last year. On average, equities research analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current year.

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.