Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Ithaka Group LLC

Ithaka Group LLC cut its stake in Netflix, Inc. (NASDAQ:NFLX) by 1.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 23,145 shares of the Internet television network’s stock after selling 258 shares during the quarter. Netflix makes up approximately 3.1% of Ithaka Group LLC’s investment portfolio, making the stock its 12th largest position. Ithaka Group LLC’s holdings in Netflix were worth $16,416,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of NFLX. International Assets Investment Management LLC increased its position in shares of Netflix by 116,620.0% in the third quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock valued at $4,080,522,000 after buying an additional 5,748,200 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of Netflix by 154.7% in the third quarter. Assenagon Asset Management S.A. now owns 1,058,431 shares of the Internet television network’s stock valued at $750,713,000 after buying an additional 642,920 shares in the last quarter. Jericho Capital Asset Management L.P. purchased a new stake in shares of Netflix during the first quarter worth approximately $372,293,000. Swedbank AB purchased a new stake in shares of Netflix during the first quarter worth approximately $216,538,000. Finally, Jennison Associates LLC increased its position in shares of Netflix by 4.7% during the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after purchasing an additional 316,594 shares in the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Macquarie reissued an “outperform” rating and set a $795.00 price objective on shares of Netflix in a research note on Friday, October 18th. Rosenblatt Securities boosted their price objective on Netflix from $635.00 to $680.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Benchmark reaffirmed a “sell” rating and issued a $545.00 price target on shares of Netflix in a research note on Tuesday, October 15th. Canaccord Genuity Group increased their target price on Netflix from $750.00 to $760.00 and gave the stock a “hold” rating in a research note on Friday, October 18th. Finally, Wells Fargo & Company increased their target price on Netflix from $758.00 to $797.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $764.82.

Netflix Stock Performance

NFLX stock opened at $896.05 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. The company has a 50 day moving average price of $751.39 and a 200 day moving average price of $688.25. Netflix, Inc. has a fifty-two week low of $445.73 and a fifty-two week high of $908.00. The stock has a market capitalization of $383.03 billion, a PE ratio of 50.71, a price-to-earnings-growth ratio of 1.68 and a beta of 1.25.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, topping analysts’ consensus estimates of $5.09 by $0.31. Netflix had a net margin of 20.70% and a return on equity of 35.86%. The firm had revenue of $9.82 billion during the quarter, compared to analyst estimates of $9.77 billion. Analysts forecast that Netflix, Inc. will post 19.78 EPS for the current year.

Insider Activity

In other news, Director Anne M. Sweeney sold 589 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $880.00, for a total value of $518,320.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Reed Hastings sold 25,074 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $680.92, for a total transaction of $17,073,388.08. Following the completion of the transaction, the chairman now directly owns 85 shares of the company’s stock, valued at approximately $57,878.20. The trade was a 99.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 185,866 shares of company stock valued at $133,393,921 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.