Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Industrial Alliance Investment Management Inc.

Industrial Alliance Investment Management Inc. cut its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 91.6% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 47 shares of the Internet television network’s stock after selling 513 shares during the quarter. Industrial Alliance Investment Management Inc.’s holdings in Netflix were worth $32,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Malaga Cove Capital LLC boosted its stake in Netflix by 25.4% during the 4th quarter. Malaga Cove Capital LLC now owns 1,562 shares of the Internet television network’s stock valued at $761,000 after acquiring an additional 316 shares during the last quarter. Legacy Financial Advisors Inc. lifted its position in shares of Netflix by 8.1% during the fourth quarter. Legacy Financial Advisors Inc. now owns 3,793 shares of the Internet television network’s stock worth $1,847,000 after purchasing an additional 284 shares during the last quarter. LGT Fund Management Co Ltd. grew its stake in Netflix by 5.5% in the fourth quarter. LGT Fund Management Co Ltd. now owns 5,766 shares of the Internet television network’s stock worth $2,828,000 after purchasing an additional 300 shares in the last quarter. Lincoln National Corp increased its holdings in Netflix by 4.9% in the fourth quarter. Lincoln National Corp now owns 8,115 shares of the Internet television network’s stock valued at $3,951,000 after buying an additional 379 shares during the last quarter. Finally, M&G Plc acquired a new stake in Netflix during the first quarter valued at approximately $9,682,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Price Performance

Shares of NFLX traded up $8.87 during midday trading on Friday, reaching $701.35. The stock had a trading volume of 3,264,875 shares, compared to its average volume of 3,828,823. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market capitalization of $302.28 billion, a P/E ratio of 48.67, a P/E/G ratio of 1.28 and a beta of 1.27. The firm’s 50 day moving average price is $659.04 and its 200-day moving average price is $629.28. Netflix, Inc. has a 52 week low of $344.73 and a 52 week high of $711.33.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, beating analysts’ consensus estimates of $4.74 by $0.14. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The company had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $9.53 billion. During the same period in the prior year, the company earned $3.29 EPS. Netflix’s revenue was up 16.8% on a year-over-year basis. On average, analysts forecast that Netflix, Inc. will post 19.08 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Piper Sandler lifted their target price on Netflix from $600.00 to $650.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. TD Cowen lifted their price objective on shares of Netflix from $725.00 to $775.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. Oppenheimer reissued an “outperform” rating and set a $725.00 target price on shares of Netflix in a report on Tuesday, July 30th. The Goldman Sachs Group raised their price target on shares of Netflix from $650.00 to $659.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Finally, Redburn Atlantic boosted their price objective on shares of Netflix from $740.00 to $760.00 and gave the company a “buy” rating in a research report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $685.45.

Insider Buying and Selling

In other Netflix news, Chairman Reed Hastings sold 19,943 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $633.58, for a total value of $12,635,485.94. Following the transaction, the chairman now owns 57 shares of the company’s stock, valued at $36,114.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Netflix news, insider David A. Hyman sold 20,656 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the completion of the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at $19,128,159.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Reed Hastings sold 19,943 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $633.58, for a total transaction of $12,635,485.94. Following the completion of the transaction, the chairman now owns 57 shares of the company’s stock, valued at $36,114.06. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 152,700 shares of company stock worth $98,283,982. Corporate insiders own 1.76% of the company’s stock.

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.