West Tower Group LLC Decreases Holdings in Netflix, Inc. (NASDAQ:NFLX)

West Tower Group LLC cut its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 60.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 200 shares of the Internet television network’s stock after selling 300 shares during the period. West Tower Group LLC’s holdings in Netflix were worth $142,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. International Assets Investment Management LLC grew its position in shares of Netflix by 116,620.0% during the 3rd quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock valued at $4,080,522,000 after acquiring an additional 5,748,200 shares during the period. Assenagon Asset Management S.A. grew its position in shares of Netflix by 154.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,058,431 shares of the Internet television network’s stock valued at $750,713,000 after acquiring an additional 642,920 shares during the period. Swedbank AB bought a new stake in shares of Netflix during the 1st quarter valued at $216,538,000. Jennison Associates LLC grew its position 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 acquiring an additional 316,594 shares during the period. Finally, Westfield Capital Management Co. LP bought a new stake in shares of Netflix during the 3rd quarter valued at $222,871,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Netflix Trading Down 3.6 %

NASDAQ NFLX opened at $865.59 on Tuesday. The company’s fifty day simple moving average is $758.78 and its 200-day simple moving average is $693.29. Netflix, Inc. has a 52 week low of $445.73 and a 52 week high of $908.00. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. The stock has a market cap of $370.00 billion, a P/E ratio of 48.99, a PEG ratio of 1.73 and a beta of 1.25.

Netflix (NASDAQ:NFLX) last posted its 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 business had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. Equities research analysts predict that Netflix, Inc. will post 19.78 EPS for the current fiscal year.

Insider Buying and Selling at Netflix

In related news, CEO Gregory K. Peters sold 4,392 shares of the company’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $725.00, for a total value of $3,184,200.00. Following the completion of the sale, the chief executive officer now owns 13,090 shares of the company’s stock, valued at $9,490,250. This represents a 25.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Anne M. Sweeney sold 589 shares of the company’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 disclosure for this sale can be found here. Insiders sold a total of 185,866 shares of company stock worth $133,393,921 over the last 90 days. Insiders own 1.76% of the company’s stock.

Analyst Upgrades and Downgrades

NFLX has been the subject of several recent analyst reports. TD Cowen upped their target price on shares of Netflix from $820.00 to $835.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Pivotal Research upped their target price on shares of Netflix from $925.00 to $1,100.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Oppenheimer upped their target price on shares of Netflix from $775.00 to $825.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Bank of America upped their target price on shares of Netflix from $800.00 to $1,000.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Finally, Wells Fargo & Company upped their target price on shares of Netflix from $758.00 to $797.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus 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.