Varenne Capital Partners Trims Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Varenne Capital Partners trimmed its holdings in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 38.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 42,141 shares of the Internet television network's stock after selling 26,122 shares during the period. Netflix comprises about 11.1% of Varenne Capital Partners' investment portfolio, making the stock its 5th largest holding. Varenne Capital Partners' holdings in Netflix were worth $37,561,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Pathway Financial Advisers LLC increased its position in shares of Netflix by 82.4% during the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network's stock worth $27,000 after acquiring an additional 14 shares in the last quarter. Newton One Investments LLC bought a new position in Netflix during the 4th quarter worth about $34,000. Pineridge Advisors LLC raised its stake in shares of Netflix by 4,000.0% in the 4th quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network's stock valued at $37,000 after purchasing an additional 40 shares during the period. FSA Wealth Management LLC bought a new stake in shares of Netflix in the third quarter valued at about $38,000. Finally, Princeton Global Asset Management LLC boosted its position in shares of Netflix by 51.6% during the fourth quarter. Princeton Global Asset Management LLC now owns 47 shares of the Internet television network's stock worth $42,000 after buying an additional 16 shares during the period. 80.93% of the stock is currently owned by institutional investors.

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Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on NFLX shares. Macquarie lifted their target price on Netflix from $965.00 to $1,150.00 and gave the company an "outperform" rating in a research report on Wednesday, January 22nd. Guggenheim lifted their price objective on shares of Netflix from $950.00 to $1,100.00 and gave the company a "buy" rating in a report on Wednesday, January 22nd. UBS Group restated a "buy" rating on shares of Netflix in a report on Monday, March 10th. Wolfe Research upgraded shares of Netflix from a "peer perform" rating to an "outperform" rating and set a $1,100.00 price target on the stock in a research note on Thursday, January 23rd. Finally, Rosenblatt Securities raised shares of Netflix from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $680.00 to $1,494.00 in a research report on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $1,021.02.

Insider Transactions at Netflix

In other news, Director Ann Mather sold 2,682 shares of the business's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $973.00, for a total transaction of $2,609,586.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gregory K. Peters sold 102,228 shares of the firm's stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $980.74, for a total value of $100,259,088.72. Following the completion of the sale, the chief executive officer now directly owns 12,950 shares in the company, valued at $12,700,583. This trade represents a 88.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 288,583 shares of company stock valued at $279,611,567. Company insiders own 1.76% of the company's stock.

Netflix Price Performance

Shares of NASDAQ:NFLX traded up $16.61 during trading on Wednesday, reaching $944.99. 1,759,733 shares of the company traded hands, compared to its average volume of 3,585,947. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. Netflix, Inc. has a 52 week low of $542.01 and a 52 week high of $1,064.50. The firm has a market capitalization of $404.23 billion, a PE ratio of 47.65, a PEG ratio of 2.12 and a beta of 1.38. The company's 50 day moving average is $974.40 and its two-hundred day moving average is $872.78.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, topping the consensus estimate of $4.20 by $0.07. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The business had revenue of $10.25 billion during the quarter, compared to analysts' expectations of $10.14 billion. During the same quarter in the prior year, the business posted $2.11 earnings per share. Netflix's revenue was up 16.0% compared to the same quarter last year. As a group, sell-side analysts predict 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.