Netflix, Inc. (NASDAQ:NFLX) Shares Sold by DnB Asset Management AS

DnB Asset Management AS reduced its position in Netflix, Inc. (NASDAQ:NFLX) by 19.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 142,503 shares of the Internet television network’s stock after selling 35,215 shares during the period. DnB Asset Management AS’s holdings in Netflix were worth $127,016,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NFLX. Principal Financial Group Inc. raised its holdings in shares of Netflix by 13.3% in the third quarter. Principal Financial Group Inc. now owns 1,692,563 shares of the Internet television network’s stock worth $1,200,485,000 after acquiring an additional 198,148 shares during the last quarter. Qsemble Capital Management LP purchased a new position in Netflix in the 3rd quarter valued at about $209,000. Blueshift Asset Management LLC purchased a new position in Netflix in the 3rd quarter valued at about $339,000. CreativeOne Wealth LLC boosted its stake in shares of Netflix by 41.2% during the 3rd quarter. CreativeOne Wealth LLC now owns 3,470 shares of the Internet television network’s stock worth $2,461,000 after purchasing an additional 1,013 shares during the last quarter. Finally, RPg Family Wealth Advisory LLC purchased a new stake in shares of Netflix during the third quarter worth about $25,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Stock Performance

Shares of Netflix stock opened at $976.72 on Friday. Netflix, Inc. has a 12 month low of $542.01 and a 12 month high of $1,064.50. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. The stock has a market cap of $417.80 billion, a PE ratio of 49.25, a price-to-earnings-growth ratio of 2.12 and a beta of 1.38. The business has a fifty day simple moving average of $970.22 and a 200-day simple moving average of $864.96.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, topping analysts’ consensus estimates of $4.20 by $0.07. The firm had revenue of $10.25 billion during the quarter, compared to analyst estimates of $10.14 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The business’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period last year, the company posted $2.11 EPS. On average, sell-side analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

NFLX has been the topic of a number of analyst reports. Barclays upgraded shares of Netflix from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $715.00 to $900.00 in a research report on Wednesday, January 22nd. Bank of America upped their price target on shares of Netflix from $1,000.00 to $1,175.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Arete Research upgraded shares of Netflix to a “hold” rating in a report on Thursday, January 23rd. Evercore ISI boosted their price objective on shares of Netflix from $950.00 to $1,100.00 and gave the company an “outperform” rating in a research note on Wednesday, January 22nd. Finally, Canaccord Genuity Group raised Netflix from a “hold” rating to a “buy” rating and increased their target price for the stock from $940.00 to $1,150.00 in a research report on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,021.02.

Insider Activity at Netflix

In other news, CEO Gregory K. Peters sold 4,939 shares of Netflix stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $1,030.00, for a total transaction of $5,087,170.00. Following the completion of the sale, the chief executive officer now directly owns 12,950 shares in the company, valued at $13,338,500. The trade was a 27.61 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Jeffrey William Karbowski sold 480 shares of the stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $986.75, for a total value of $473,640.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 288,583 shares of company stock valued at $279,611,567. Corporate insiders own 1.76% of the company’s stock.

Netflix Company 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.