Fmr LLC Decreases Holdings in Netflix, Inc. (NASDAQ:NFLX)

Fmr LLC lowered its stake in Netflix, Inc. (NASDAQ:NFLX) by 3.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,511,856 shares of the Internet television network’s stock after selling 719,641 shares during the period. Netflix makes up approximately 0.9% of Fmr LLC’s investment portfolio, making the stock its 14th biggest position. Fmr LLC owned 4.80% of Netflix worth $14,548,444,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in NFLX. Waverly Advisors LLC lifted its holdings in shares of Netflix by 58.2% in the 1st quarter. Waverly Advisors LLC now owns 3,368 shares of the Internet television network’s stock worth $2,046,000 after acquiring an additional 1,239 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its position in shares of Netflix by 26.4% during the first quarter. Jacobs Levy Equity Management Inc. now owns 1,670 shares of the Internet television network’s stock valued at $1,014,000 after buying an additional 349 shares during the period. Redwood Investment Management LLC boosted its position in shares of Netflix by 10.7% during the first quarter. Redwood Investment Management LLC now owns 3,339 shares of the Internet television network’s stock valued at $2,028,000 after buying an additional 324 shares during the period. Creekmur Asset Management LLC grew its stake in shares of Netflix by 560.0% during the first quarter. Creekmur Asset Management LLC now owns 99 shares of the Internet television network’s stock valued at $60,000 after buying an additional 84 shares during the last quarter. Finally, Coppell Advisory Solutions Corp. purchased a new stake in shares of Netflix in the first quarter worth approximately $290,000. 80.93% of the stock is owned by institutional investors.

Analysts Set New Price Targets

NFLX has been the topic of several research analyst reports. Piper Sandler reaffirmed an “overweight” rating and issued a $840.00 price objective (up previously from $800.00) on shares of Netflix in a research report on Friday, October 18th. Evercore ISI upped their price target on shares of Netflix from $750.00 to $775.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Needham & Company LLC lifted their price objective on shares of Netflix from $700.00 to $800.00 and gave the company a “buy” rating in a report on Friday, October 18th. Wells Fargo & Company boosted their price objective on shares of Netflix from $758.00 to $797.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Finally, Benchmark reaffirmed a “sell” rating and set a $545.00 target price on shares of Netflix in a research report on Tuesday, October 15th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $764.82.

Insider Buying and Selling at Netflix

In other Netflix news, CEO Gregory K. Peters sold 4,392 shares of Netflix stock in a transaction dated Wednesday, September 25th. The stock was 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 in the company, valued at approximately $9,490,250. This trade represents a 25.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Timothy M. Haley sold 11,090 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $757.96, for a total value of $8,405,776.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 185,866 shares of company stock worth $133,393,921. 1.76% of the stock is currently owned by insiders.

Netflix Stock Performance

Shares of Netflix stock opened at $865.59 on Tuesday. The firm has a market capitalization of $370.00 billion, a P/E ratio of 48.99, a PEG ratio of 1.73 and a beta of 1.25. Netflix, Inc. has a 52 week low of $445.73 and a 52 week high of $908.00. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. The company has a 50 day moving average price of $758.78 and a 200 day moving average price of $693.29.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, topping the consensus estimate of $5.09 by $0.31. Netflix had a net margin of 20.70% and a return on equity of 35.86%. The business had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.77 billion. Sell-side analysts expect that Netflix, Inc. will post 19.78 EPS for the current year.

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.