Bailard Inc. Sells 4,410 Shares of Netflix, Inc. (NASDAQ:NFLX)

Bailard Inc. cut its holdings in Netflix, Inc. (NASDAQ:NFLX) by 15.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,398 shares of the Internet television network’s stock after selling 4,410 shares during the quarter. Bailard Inc.’s holdings in Netflix were worth $11,392,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Jennison Associates LLC grew its position in Netflix by 40.6% during the 4th quarter. Jennison Associates LLC now owns 5,452,271 shares of the Internet television network’s stock valued at $2,654,602,000 after purchasing an additional 1,573,978 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Netflix by 2.1% in the 3rd quarter. Northern Trust Corp now owns 4,633,770 shares of the Internet television network’s stock worth $1,749,712,000 after purchasing an additional 96,938 shares during the period. Clearbridge Investments LLC lifted its stake in shares of Netflix by 5.3% in the 3rd quarter. Clearbridge Investments LLC now owns 2,783,694 shares of the Internet television network’s stock worth $1,051,123,000 after purchasing an additional 139,165 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Netflix by 0.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,393,628 shares of the Internet television network’s stock worth $903,834,000 after purchasing an additional 14,364 shares during the period. Finally, International Assets Investment Management LLC lifted its stake in shares of Netflix by 15,039.1% in the 4th quarter. International Assets Investment Management LLC now owns 2,075,569 shares of the Internet television network’s stock worth $1,010,553,000 after purchasing an additional 2,061,859 shares during the period. 80.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NFLX has been the topic of a number of recent analyst reports. Robert W. Baird raised their target price on shares of Netflix from $500.00 to $600.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Canaccord Genuity Group cut shares of Netflix from a “buy” rating to a “hold” rating and reduced their price objective for the company from $720.00 to $585.00 in a research report on Friday, April 19th. StockNews.com upgraded shares of Netflix from a “hold” rating to a “buy” rating in a research report on Monday, February 26th. Loop Capital lifted their price objective on shares of Netflix from $585.00 to $700.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Finally, Needham & Company LLC upgraded shares of Netflix from a “hold” rating to a “buy” rating and set a $700.00 price objective on the stock in a research report on Friday, April 19th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to MarketBeat, Netflix currently has a consensus rating of “Moderate Buy” and an average target price of $630.58.

Insiders Place Their Bets

In other Netflix news, insider David A. Hyman sold 267 shares of the business’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $556.01, for a total value of $148,454.67. Following the completion of the transaction, the insider now directly owns 31,610 shares in the company, valued at $17,575,476.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Gregory K. Peters sold 5,352 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $625.00, for a total transaction of $3,345,000.00. Following the sale, the chief executive officer now owns 13,090 shares in the company, valued at $8,181,250. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider David A. Hyman sold 267 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $556.01, for a total value of $148,454.67. Following the sale, the insider now owns 31,610 shares in the company, valued at approximately $17,575,476.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 160,106 shares of company stock worth $92,729,716. 2.45% of the stock is owned by corporate insiders.

Netflix Trading Down 3.9 %

Shares of NFLX traded down $22.63 during trading hours on Wednesday, reaching $555.12. 5,303,842 shares of the company traded hands, compared to its average volume of 4,527,938. The company has a current ratio of 1.07, a quick ratio of 1.12 and a debt-to-equity ratio of 0.62. The stock’s fifty day moving average price is $605.56 and its 200 day moving average price is $517.91. The firm has a market cap of $239.20 billion, a price-to-earnings ratio of 38.52, a PEG ratio of 1.41 and a beta of 1.22. Netflix, Inc. has a 12-month low of $315.62 and a 12-month high of $639.00.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 earnings per share for the quarter, beating the consensus estimate of $4.51 by $0.77. The firm had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $9.28 billion. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period in the previous year, the company posted $2.88 earnings per share. Sell-side analysts forecast that Netflix, Inc. will post 17.87 earnings per share for the current year.

Netflix 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.