Investors Research Corp Cuts Stake in Netflix, Inc. (NASDAQ:NFLX)

Investors Research Corp reduced its position in Netflix, Inc. (NASDAQ:NFLX) by 6.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 510 shares of the Internet television network’s stock after selling 38 shares during the period. Investors Research Corp’s holdings in Netflix were worth $362,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. International Assets Investment Management LLC lifted its stake in Netflix by 116,620.0% during the third quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock worth $4,080,522,000 after purchasing an additional 5,748,200 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Netflix by 154.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,058,431 shares of the Internet television network’s stock worth $750,713,000 after purchasing an additional 642,920 shares during the last quarter. Jericho Capital Asset Management L.P. purchased a new stake in Netflix during the first quarter valued at about $372,293,000. Swedbank AB purchased a new stake in shares of Netflix in the first quarter valued at $216,538,000. Finally, Jennison Associates LLC boosted its stake in shares of Netflix by 4.7% during the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after buying an additional 316,594 shares during the period. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on NFLX shares. China Renaissance assumed coverage on Netflix in a report on Thursday, September 5th. They set a “hold” rating and a $680.00 price target for the company. Pivotal Research upped their target price on shares of Netflix from $925.00 to $1,100.00 and gave the company a “buy” rating in a research report on Wednesday. Wells Fargo & Company upped their price objective on shares of Netflix from $758.00 to $797.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Guggenheim boosted their price objective on shares of Netflix from $810.00 to $825.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Finally, Wedbush reiterated an “outperform” rating and set a $950.00 target price (up from $800.00) on shares of Netflix in a research note on Monday. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $764.82.

Insider Buying and Selling

In other Netflix news, Director Anne M. Sweeney sold 589 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $880.00, for a total transaction of $518,320.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Timothy M. Haley sold 11,090 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $757.96, for a total value of $8,405,776.40. The disclosure for this sale can be found here. In the last three months, insiders sold 185,866 shares of company stock valued at $133,393,921. Insiders own 1.76% of the company’s stock.

Netflix Price Performance

Netflix stock traded down $4.71 during mid-day trading on Thursday, reaching $879.14. 427,940 shares of the company’s stock traded hands, compared to its average volume of 3,649,545. Netflix, Inc. has a 12-month low of $445.73 and a 12-month high of $890.60. The company has a market cap of $375.80 billion, a price-to-earnings ratio of 50.02, a PEG ratio of 1.68 and a beta of 1.25. The stock has a 50 day moving average of $747.20 and a two-hundred day moving average of $686.80. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, beating the consensus estimate of $5.09 by $0.31. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The company had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.77 billion. Equities analysts forecast that Netflix, Inc. will post 19.78 earnings per share for the current 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.