Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Renaissance Group LLC

Renaissance Group LLC lowered its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 8.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,402 shares of the Internet television network's stock after selling 4,232 shares during the quarter. Netflix makes up 1.8% of Renaissance Group LLC's portfolio, making the stock its 4th biggest holding. Renaissance Group LLC's holdings in Netflix were worth $43,231,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NFLX. Pathway Financial Advisers LLC increased its holdings in shares of Netflix by 82.4% in the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network's stock worth $27,000 after buying an additional 14 shares during the last quarter. Newton One Investments LLC bought a new stake in Netflix during the fourth quarter worth approximately $34,000. Pineridge Advisors LLC raised its position in Netflix by 4,000.0% during the fourth 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. Princeton Global Asset Management LLC lifted its stake in shares of Netflix by 51.6% in the 4th quarter. Princeton Global Asset Management LLC now owns 47 shares of the Internet television network's stock valued at $42,000 after purchasing an additional 16 shares during the last quarter. Finally, Decker Retirement Planning Inc. bought a new position in shares of Netflix during the 4th quarter valued at approximately $43,000. Institutional investors own 80.93% of the company's stock.

Insider Transactions at Netflix

In related news, Chairman Reed Hastings sold 25,360 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $921.15, for a total transaction of $23,360,364.00. Following the completion of the sale, the chairman now directly owns 394 shares in the company, valued at approximately $362,933.10. The trade was a 98.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Jeffrey William Karbowski sold 160 shares of the firm's stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $1,000.00, for a total value of $160,000.00. The disclosure for this sale can be found here. Insiders have sold 274,312 shares of company stock valued at $267,919,297 in the last 90 days. 1.76% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have commented on NFLX. Guggenheim reaffirmed a "buy" rating and set a $1,100.00 price objective on shares of Netflix in a research note on Thursday, April 3rd. Canaccord Genuity Group raised shares of Netflix from a "hold" rating to a "buy" rating and increased their price objective for the stock from $940.00 to $1,150.00 in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. dropped their target price on Netflix from $1,150.00 to $1,025.00 and set an "overweight" rating for the company in a research report on Tuesday. Argus increased their price target on Netflix from $840.00 to $1,040.00 and gave the stock a "buy" rating in a report on Monday, January 6th. Finally, Wolfe Research raised Netflix from a "peer perform" rating to an "outperform" rating and set a $1,100.00 price target for the company in a research note on Thursday, January 23rd. Ten 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. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $1,017.31.

Netflix Stock Performance

Shares of NASDAQ:NFLX traded down $2.88 during trading on Friday, hitting $918.29. The stock had a trading volume of 4,069,267 shares, compared to its average volume of 3,687,525. The stock has a 50-day simple moving average of $960.09 and a two-hundred day simple moving average of $884.26. The stock has a market capitalization of $392.80 billion, a price-to-earnings ratio of 46.31, a price-to-earnings-growth ratio of 2.12 and a beta of 1.55. Netflix, Inc. has a 12-month low of $542.01 and a 12-month high of $1,064.50. 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 (NASDAQ:NFLX - Get Free Report) last posted its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, beating 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 company had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10.14 billion. During the same period in the prior year, the company earned $2.11 earnings per share. The firm's revenue was up 16.0% on a year-over-year basis. On average, equities research analysts expect that Netflix, Inc. will post 24.58 earnings per share 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.