Pinebridge Investments L.P. Sells 12,500 Shares of Netflix, Inc. (NASDAQ:NFLX)

Pinebridge Investments L.P. lessened its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 12.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 88,011 shares of the Internet television network's stock after selling 12,500 shares during the quarter. Netflix makes up approximately 0.6% of Pinebridge Investments L.P.'s investment portfolio, making the stock its 27th largest holding. Pinebridge Investments L.P.'s holdings in Netflix were worth $78,446,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Netflix by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 37,488,005 shares of the Internet television network's stock worth $33,413,809,000 after buying an additional 171,712 shares during the period. FMR LLC boosted its position in Netflix by 1.8% during the fourth quarter. FMR LLC now owns 20,887,090 shares of the Internet television network's stock valued at $18,617,081,000 after acquiring an additional 375,234 shares during the last quarter. Geode Capital Management LLC grew its holdings in Netflix by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 9,323,952 shares of the Internet television network's stock worth $8,287,823,000 after acquiring an additional 175,596 shares during the period. Norges Bank bought a new position in shares of Netflix in the 4th quarter worth about $5,019,087,000. Finally, Alliancebernstein L.P. lifted its stake in shares of Netflix by 1.6% in the 4th quarter. Alliancebernstein L.P. now owns 5,141,328 shares of the Internet television network's stock valued at $4,582,568,000 after purchasing an additional 82,564 shares during the period. Institutional investors own 80.93% of the company's stock.

Netflix Stock Performance

NASDAQ NFLX traded up $4.66 during trading on Friday, hitting $1,101.53. 3,944,668 shares of the company's stock traded hands, compared to its average volume of 3,711,156. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. The stock has a market capitalization of $471.19 billion, a price-to-earnings ratio of 55.55, a PEG ratio of 2.12 and a beta of 1.55. Netflix, Inc. has a 12-month low of $544.25 and a 12-month high of $1,105.89. The business has a 50 day moving average of $954.61 and a 200-day moving average of $901.03.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, beating analysts' consensus estimates of $5.74 by $0.87. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The company had revenue of $10.54 billion for the quarter, compared to analysts' expectations of $10.51 billion. During the same period in the prior year, the company posted $8.28 EPS. As a group, equities research analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insider Transactions at Netflix

In other news, CAO Jeffrey William Karbowski sold 160 shares of the stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $1,000.00, for a total value of $160,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Reed Hastings sold 25,360 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $921.15, for a total transaction of $23,360,364.00. Following the transaction, the chairman now directly owns 394 shares of the company's stock, valued at approximately $362,933.10. This represents a 98.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 273,855 shares of company stock valued at $267,474,816 over the last three months. Company insiders own 1.76% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. FBN Securities assumed coverage on Netflix in a report on Thursday, March 27th. They issued an "outperform" rating and a $1,165.00 target price for the company. Rosenblatt Securities lifted their price objective on shares of Netflix from $1,494.00 to $1,514.00 and gave the company a "buy" rating in a research note on Monday. Piper Sandler set a $1,150.00 target price on shares of Netflix in a research note on Monday. Arete Research upgraded shares of Netflix to a "hold" rating in a report on Thursday, January 23rd. Finally, Seaport Res Ptn upgraded shares of Netflix from a "hold" rating to a "strong-buy" rating in a report on Wednesday, January 15th. 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. According to data from MarketBeat, Netflix currently has a consensus rating of "Moderate Buy" and an average price target of $1,072.12.

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.