Adage Capital Partners GP L.L.C. Sells 9,900 Shares of Netflix, Inc. (NASDAQ:NFLX)

Adage Capital Partners GP L.L.C. lessened its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 2.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 389,633 shares of the Internet television network’s stock after selling 9,900 shares during the period. Netflix accounts for 0.6% of Adage Capital Partners GP L.L.C.’s investment portfolio, making the stock its 27th largest position. Adage Capital Partners GP L.L.C.’s holdings in Netflix were worth $347,288,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Nordea Investment Management AB boosted its stake in Netflix by 22.7% in the 4th quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network’s stock worth $760,918,000 after purchasing an additional 156,958 shares during the period. First National Trust Co lifted its holdings in shares of Netflix by 1.0% in the fourth quarter. First National Trust Co now owns 1,258 shares of the Internet television network’s stock worth $1,121,000 after buying an additional 12 shares in the last quarter. Haven Private LLC bought a new position in shares of Netflix in the fourth quarter valued at approximately $733,000. Sigma Planning Corp grew its stake in Netflix by 7.4% during the fourth quarter. Sigma Planning Corp now owns 5,572 shares of the Internet television network’s stock valued at $4,966,000 after acquiring an additional 386 shares in the last quarter. Finally, Quilter Plc increased its holdings in Netflix by 8.2% during the 4th quarter. Quilter Plc now owns 143,757 shares of the Internet television network’s stock worth $128,133,000 after acquiring an additional 10,946 shares during the period. Institutional investors own 80.93% of the company’s stock.

Insiders Place Their Bets

In other news, insider David A. Hyman sold 41,121 shares of the firm’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $979.01, for a total value of $40,257,870.21. Following the completion of the sale, the insider now owns 31,610 shares of the company’s stock, valued at $30,946,506.10. This trade represents a 56.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 disclosure for this sale can be found here. Insiders sold a total of 274,472 shares of company stock worth $268,079,297 over the last 90 days. Company insiders own 1.76% of the company’s stock.

Netflix Stock Performance

NFLX stock opened at $1,040.34 on Wednesday. Netflix, Inc. has a twelve month low of $544.25 and a twelve month high of $1,064.97. The firm has a market cap of $445.01 billion, a price-to-earnings ratio of 52.46, a PEG ratio of 2.12 and a beta of 1.55. The business’s fifty day simple moving average is $954.01 and its two-hundred day simple moving average is $897.26. 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) last released its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, topping the consensus estimate of $5.74 by $0.87. The company had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.51 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. During the same period last year, the business posted $8.28 EPS. Analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have commented on NFLX. Evercore ISI raised their price target on shares of Netflix from $1,100.00 to $1,150.00 and gave the company an “outperform” rating in a report on Monday. Sanford C. Bernstein upgraded Netflix from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $975.00 to $1,200.00 in a research report on Friday, January 24th. Seaport Res Ptn upgraded Netflix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 15th. Oppenheimer reaffirmed an “outperform” rating and issued a $1,200.00 price target (up previously from $1,150.00) on shares of Netflix in a report on Friday. Finally, Needham & Company LLC restated a “buy” rating and issued a $1,126.00 price objective on shares of Netflix in a research report on Thursday, April 17th. Ten analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,070.65.

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.