First Pacific Advisors LP Sells 17,797 Shares of Netflix, Inc. (NASDAQ:NFLX)

First Pacific Advisors LP cut its stake in Netflix, Inc. (NASDAQ:NFLX) by 16.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 92,759 shares of the Internet television network’s stock after selling 17,797 shares during the quarter. First Pacific Advisors LP’s holdings in Netflix were worth $62,601,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in shares of Netflix in the fourth quarter valued at approximately $2,558,598,000. Wellington Management Group LLP increased its stake in Netflix by 540.9% during the 4th quarter. Wellington Management Group LLP now owns 3,878,785 shares of the Internet television network’s stock worth $1,888,503,000 after acquiring an additional 3,273,592 shares during the period. GQG Partners LLC acquired a new position in Netflix in the 1st quarter valued at $1,450,476,000. Jennison Associates LLC lifted its position in shares of Netflix by 17.0% during the 1st quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock valued at $3,875,655,000 after acquiring an additional 929,193 shares during the period. Finally, Global Assets Advisory LLC acquired a new stake in shares of Netflix during the 1st quarter worth $436,514,000. Institutional investors own 80.93% of the company’s stock.

Netflix Trading Down 0.3 %

Shares of NFLX traded down $1.98 during trading hours on Thursday, hitting $677.70. 628,905 shares of the stock were exchanged, compared to its average volume of 3,794,272. Netflix, Inc. has a fifty-two week low of $344.73 and a fifty-two week high of $711.33. The business has a 50-day moving average of $660.09 and a 200-day moving average of $632.90. The firm has a market capitalization of $292.09 billion, a P/E ratio of 47.37, a price-to-earnings-growth ratio of 1.44 and a beta of 1.27. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, topping the consensus estimate of $4.74 by $0.14. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The business had revenue of $9.56 billion during the quarter, compared to analysts’ expectations of $9.53 billion. During the same quarter last year, the firm posted $3.29 earnings per share. The firm’s revenue was up 16.8% on a year-over-year basis. On average, research analysts expect that Netflix, Inc. will post 19.08 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on NFLX. Rosenblatt Securities boosted their price target on Netflix from $554.00 to $635.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. The Goldman Sachs Group boosted their target price on shares of Netflix from $650.00 to $659.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. UBS Group increased their price target on shares of Netflix from $685.00 to $750.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Sanford C. Bernstein boosted their price objective on shares of Netflix from $600.00 to $625.00 and gave the company a “market perform” rating in a research report on Friday, July 19th. Finally, StockNews.com downgraded Netflix from a “buy” rating to a “hold” rating in a report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $685.29.

Insider Activity at Netflix

In other news, Director Leslie J. Kilgore sold 1,372 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $704.81, for a total transaction of $966,999.32. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Leslie J. Kilgore sold 1,372 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $704.81, for a total transaction of $966,999.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Spencer Adam Neumann sold 433 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $626.19, for a total value of $271,140.27. The disclosure for this sale can be found here. Insiders have sold 157,831 shares of company stock worth $102,721,884 in the last quarter. Company insiders own 1.76% of the company’s stock.

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.