Bell Asset Management Ltd Sells 1,069 Shares of Netflix, Inc. (NASDAQ:NFLX)

Bell Asset Management Ltd lowered its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 17.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 5,123 shares of the Internet television network’s stock after selling 1,069 shares during the quarter. Bell Asset Management Ltd’s holdings in Netflix were worth $4,566,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of NFLX. Principal Financial Group Inc. lifted its position in shares of Netflix by 13.3% in the third quarter. Principal Financial Group Inc. now owns 1,692,563 shares of the Internet television network’s stock worth $1,200,485,000 after buying an additional 198,148 shares in the last quarter. Weiss Asset Management LP purchased a new stake in shares of Netflix during the 3rd quarter worth approximately $878,000. Dunhill Financial LLC raised its holdings in shares of Netflix by 16.1% during the 3rd quarter. Dunhill Financial LLC now owns 289 shares of the Internet television network’s stock worth $205,000 after acquiring an additional 40 shares in the last quarter. Northeast Financial Consultants Inc boosted its position in shares of Netflix by 1.0% during the 3rd quarter. Northeast Financial Consultants Inc now owns 2,026 shares of the Internet television network’s stock valued at $1,437,000 after acquiring an additional 21 shares during the last quarter. Finally, MML Investors Services LLC grew its holdings in shares of Netflix by 12.0% in the third quarter. MML Investors Services LLC now owns 83,057 shares of the Internet television network’s stock valued at $58,910,000 after purchasing an additional 8,880 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Stock Performance

NFLX stock opened at $855.86 on Monday. Netflix, Inc. has a one year low of $542.01 and a one year high of $1,064.50. The firm has a market cap of $366.10 billion, a price-to-earnings ratio of 43.16, a PEG ratio of 2.12 and a beta of 1.55. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. The firm has a 50-day simple moving average of $970.24 and a two-hundred day simple moving average of $877.11.

Netflix (NASDAQ:NFLX) last posted its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, beating analysts’ consensus estimates of $4.20 by $0.07. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The company had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $10.14 billion. During the same quarter in the prior year, the company posted $2.11 earnings per share. Netflix’s revenue for the quarter was up 16.0% compared to the same quarter last year. On average, equities analysts forecast that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Insider Transactions at Netflix

In related news, insider David A. Hyman sold 41,121 shares of the company’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 transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at $30,946,506.10. This represents a 56.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Gregory K. Peters sold 102,228 shares of the stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $980.74, for a total value of $100,259,088.72. Following the completion of the transaction, the chief executive officer now directly owns 12,950 shares in the company, valued at $12,700,583. This represents a 88.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 280,676 shares of company stock valued at $273,515,672 in the last quarter. 1.76% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Wolfe Research upgraded shares of Netflix from a “peer perform” rating to an “outperform” rating and set a $1,100.00 price objective for the company in a research report on Thursday, January 23rd. Phillip Securities downgraded shares of Netflix from a “hold” rating to a “moderate sell” rating in a report on Friday, January 24th. Rosenblatt Securities raised Netflix from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $680.00 to $1,494.00 in a research note on Wednesday, January 22nd. UBS Group set a $1,000.00 price objective on Netflix in a research note on Monday, March 24th. Finally, Bank of America boosted their target price on Netflix from $1,000.00 to $1,175.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Netflix has a consensus rating of “Moderate Buy” and a consensus target price of $1,023.74.

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.