Fred Alger Management LLC Sells 102,301 Shares of Netflix, Inc. (NASDAQ:NFLX)

Fred Alger Management LLC reduced its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 22.0% in the third quarter, Holdings Channel reports. The fund owned 362,948 shares of the Internet television network’s stock after selling 102,301 shares during the quarter. Netflix makes up about 1.2% of Fred Alger Management LLC’s portfolio, making the stock its 15th biggest position. Fred Alger Management LLC’s holdings in Netflix were worth $257,428,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Denver PWM LLC bought a new stake in shares of Netflix in the 2nd quarter worth about $25,000. RPg Family Wealth Advisory LLC bought a new stake in Netflix during the third quarter worth approximately $25,000. Proffitt & Goodson Inc. raised its position in Netflix by 380.0% during the second quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock valued at $32,000 after purchasing an additional 38 shares during the period. E Fund Management Hong Kong Co. Ltd. raised its position in Netflix by 700.0% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock valued at $34,000 after purchasing an additional 42 shares during the period. Finally, AlphaMark Advisors LLC lifted its stake in shares of Netflix by 642.9% in the 2nd quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock valued at $35,000 after purchasing an additional 45 shares during the last quarter. Institutional investors own 80.93% of the company’s stock.

Insider Buying and Selling at Netflix

In other news, Chairman Reed Hastings sold 25,074 shares of Netflix stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $680.92, for a total transaction of $17,073,388.08. Following the completion of the transaction, the chairman now directly owns 85 shares of the company’s stock, valued at $57,878.20. The trade was a 99.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David A. Hyman sold 267 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total transaction of $204,433.89. Following the completion of the transaction, the insider now owns 31,610 shares of the company’s stock, valued at approximately $24,202,828.70. This represents a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 185,866 shares of company stock worth $133,393,921. Company insiders own 1.76% of the company’s stock.

Netflix Trading Up 0.5 %

NASDAQ:NFLX opened at $877.34 on Friday. The company has a market capitalization of $375.03 billion, a P/E ratio of 49.65, a PEG ratio of 1.69 and a beta of 1.25. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. Netflix, Inc. has a 12 month low of $445.73 and a 12 month high of $908.00. The firm has a fifty day simple moving average of $769.29 and a 200-day simple moving average of $697.66.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, topping analysts’ consensus estimates of $5.09 by $0.31. The company had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.77 billion. Netflix had a return on equity of 35.86% and a net margin of 20.70%. On average, equities research analysts anticipate that Netflix, Inc. will post 19.78 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on NFLX. Morgan Stanley boosted their target price on Netflix from $820.00 to $830.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Pivotal Research lifted their price objective on shares of Netflix from $925.00 to $1,100.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Canaccord Genuity Group raised their target price on shares of Netflix from $750.00 to $760.00 and gave the stock a “hold” rating in a report on Friday, October 18th. The Goldman Sachs Group set a $750.00 price target on shares of Netflix in a report on Friday, October 18th. Finally, Macquarie reissued an “outperform” rating and issued a $795.00 price objective on shares of Netflix in a research report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Netflix has an average rating of “Moderate Buy” and an average price target of $764.82.

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.