The Manufacturers Life Insurance Company lowered its position in shares of Netflix, Inc. (NASDAQ:NFLX – Free Report) by 8.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 385,591 shares of the Internet television network’s stock after selling 34,332 shares during the quarter. The Manufacturers Life Insurance Company owned 0.09% of Netflix worth $169,838,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of the company. BlackRock Inc. boosted its position in Netflix by 3.4% during the 1st quarter. BlackRock Inc. now owns 28,671,174 shares of the Internet television network’s stock worth $9,905,317,000 after acquiring an additional 938,849 shares during the last quarter. FMR LLC boosted its holdings in shares of Netflix by 0.4% in the 1st quarter. FMR LLC now owns 23,564,250 shares of the Internet television network’s stock valued at $8,140,977,000 after buying an additional 92,075 shares during the last quarter. State Street Corp boosted its holdings in shares of Netflix by 0.4% in the 1st quarter. State Street Corp now owns 16,195,490 shares of the Internet television network’s stock valued at $5,595,196,000 after buying an additional 62,507 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in shares of Netflix by 305,647.4% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 15,168,128 shares of the Internet television network’s stock valued at $6,681,409,000 after buying an additional 15,163,167 shares during the last quarter. Finally, Capital World Investors boosted its holdings in shares of Netflix by 2.5% in the 2nd quarter. Capital World Investors now owns 11,431,257 shares of the Internet television network’s stock valued at $5,035,234,000 after buying an additional 274,584 shares during the last quarter. Institutional investors and hedge funds own 79.95% of the company’s stock.
Insider Buying and Selling at Netflix
In other Netflix news, Chairman Reed Hastings sold 17,969 shares of the company’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $440.60, for a total value of $7,917,141.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Richard N. Barton sold 500 shares of the company’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $435.00, for a total transaction of $217,500.00. Following the transaction, the director now owns 152 shares of the company’s stock, valued at approximately $66,120. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Reed Hastings sold 17,969 shares of the company’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $440.60, for a total value of $7,917,141.40. The disclosure for this sale can be found here. Insiders sold 134,563 shares of company stock worth $57,388,283 in the last quarter. 2.45% of the stock is currently owned by company insiders.
Netflix Trading Up 0.3 %
Shares of Netflix stock opened at $479.56 on Friday. The stock has a fifty day simple moving average of $408.52 and a 200 day simple moving average of $413.52. Netflix, Inc. has a 12-month low of $273.41 and a 12-month high of $485.00. The company has a market capitalization of $209.89 billion, a P/E ratio of 47.86, a price-to-earnings-growth ratio of 1.86 and a beta of 1.24. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.63.
Netflix (NASDAQ:NFLX – Get Free Report) last announced its quarterly earnings results on Wednesday, October 18th. The Internet television network reported $3.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.49 by $0.24. Netflix had a return on equity of 20.68% and a net margin of 13.82%. The business had revenue of $8.54 billion during the quarter, compared to the consensus estimate of $8.54 billion. During the same quarter in the prior year, the company posted $3.10 earnings per share. Netflix’s revenue was up 7.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Netflix, Inc. will post 12.09 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several equities research analysts have recently commented on the company. Morgan Stanley raised Netflix from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $430.00 to $475.00 in a report on Thursday, October 19th. Needham & Company LLC reaffirmed a “hold” rating on shares of Netflix in a report on Monday, October 9th. Seaport Res Ptn reaffirmed a “buy” rating on shares of Netflix in a report on Friday, October 6th. KeyCorp raised Netflix from a “sector weight” rating to an “overweight” rating and set a $510.00 price target for the company in a report on Thursday, October 19th. Finally, StockNews.com raised Netflix from a “hold” rating to a “buy” rating in a report on Thursday, October 19th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat.com, Netflix presently has an average rating of “Moderate Buy” and a consensus price target of $441.20.
View Our Latest Stock Report on Netflix
Netflix Profile
(Free Report)
Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and mobile games across various genres and languages. The company provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, television set-top boxes, and mobile devices.
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