Netflix, Inc. (NASDAQ:NFLX) Shares Sold by CMG Global Holdings LLC

CMG Global Holdings LLC cut its position in Netflix, Inc. (NASDAQ:NFLX) by 26.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 468 shares of the Internet television network’s stock after selling 170 shares during the period. CMG Global Holdings LLC’s holdings in Netflix were worth $316,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Wellington Management Group LLP raised its stake in shares of 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 valued at $1,888,503,000 after buying an additional 3,273,592 shares during the last quarter. GQG Partners LLC acquired a new stake in Netflix during the first quarter worth about $1,450,476,000. Jennison Associates LLC grew its holdings in Netflix by 17.0% during the first quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock worth $3,875,655,000 after acquiring an additional 929,193 shares during the period. Global Assets Advisory LLC purchased a new position in Netflix during the first quarter valued at approximately $436,514,000. Finally, Jericho Capital Asset Management L.P. acquired a new position in Netflix in the first quarter valued at approximately $372,293,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Netflix Stock Down 0.6 %

NASDAQ NFLX opened at $707.35 on Monday. The business’s fifty day simple moving average is $669.62 and its 200-day simple moving average is $644.91. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.55. The firm has a market cap of $304.87 billion, a PE ratio of 49.09, a P/E/G ratio of 1.44 and a beta of 1.26. Netflix, Inc. has a 52 week low of $344.73 and a 52 week high of $725.26.

Netflix (NASDAQ:NFLX) last issued its earnings results on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, topping analysts’ consensus estimates of $4.74 by $0.14. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The company had revenue of $9.56 billion for the quarter, compared to the consensus estimate of $9.53 billion. During the same period in the previous year, the firm earned $3.29 earnings per share. Netflix’s quarterly revenue was up 16.8% compared to the same quarter last year. As a group, equities analysts anticipate that Netflix, Inc. will post 19.08 earnings per share for the current year.

Insider Activity at Netflix

In other Netflix news, insider David A. Hyman sold 20,656 shares of Netflix stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total value of $12,499,565.28. Following the sale, the insider now owns 31,610 shares in the company, valued at $19,128,159.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Netflix news, CEO Gregory K. Peters sold 4,392 shares of the stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $725.00, for a total transaction of $3,184,200.00. Following the completion of the transaction, the chief executive officer now owns 13,090 shares of the company’s stock, valued at $9,490,250. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider David A. Hyman sold 20,656 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the completion of the sale, the insider now directly owns 31,610 shares in the company, valued at $19,128,159.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 179,494 shares of company stock worth $118,230,884. Insiders own 1.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. TD Cowen raised their price objective on shares of Netflix from $725.00 to $775.00 and gave the stock a “buy” rating in a research note on Tuesday, July 9th. China Renaissance started coverage on shares of Netflix in a research report on Thursday, September 5th. They set a “hold” rating and a $680.00 price target on the stock. Evercore ISI upped their price objective on shares of Netflix from $710.00 to $750.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 27th. Oppenheimer restated an “outperform” rating and set a $725.00 target price on shares of Netflix in a research report on Tuesday, July 30th. Finally, The Goldman Sachs Group upped their price target on Netflix from $650.00 to $659.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $685.29.

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.