IPG Investment Advisors LLC Cuts Position in Netflix, Inc. (NASDAQ:NFLX)

IPG Investment Advisors LLC lessened its position in shares of Netflix, Inc. (NASDAQ:NFLXFree Report) by 22.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,078 shares of the Internet television network’s stock after selling 1,758 shares during the quarter. IPG Investment Advisors LLC’s holdings in Netflix were worth $2,959,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Netflix in the 4th quarter valued at approximately $2,558,598,000. International Assets Investment Management LLC lifted its stake in shares of Netflix by 15,039.1% in the 4th quarter. International Assets Investment Management LLC now owns 2,075,569 shares of the Internet television network’s stock valued at $1,010,553,000 after purchasing an additional 2,061,859 shares during the last quarter. Jennison Associates LLC lifted its stake in shares of Netflix by 40.6% in the 4th quarter. Jennison Associates LLC now owns 5,452,271 shares of the Internet television network’s stock valued at $2,654,602,000 after purchasing an additional 1,573,978 shares during the last quarter. Alecta Tjanstepension Omsesidigt boosted its holdings in Netflix by 171.4% during the 4th quarter. Alecta Tjanstepension Omsesidigt now owns 475,000 shares of the Internet television network’s stock valued at $231,258,000 after acquiring an additional 300,000 shares during the period. Finally, Quadrature Capital Ltd purchased a new position in Netflix during the 3rd quarter valued at $99,219,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Insider Activity at Netflix

In other news, CFO Spencer Adam Neumann sold 564 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $613.08, for a total transaction of $345,777.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Gregory K. Peters sold 5,821 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $600.00, for a total value of $3,492,600.00. Following the transaction, the chief executive officer now owns 13,090 shares in the company, valued at approximately $7,854,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Spencer Adam Neumann sold 564 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $613.08, for a total value of $345,777.12. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 78,039 shares of company stock valued at $46,401,083. 1.76% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on NFLX. Barclays boosted their price objective on Netflix from $475.00 to $550.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. JPMorgan Chase & Co. boosted their price objective on Netflix from $610.00 to $650.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Benchmark upped their target price on Netflix from $440.00 to $450.00 and gave the stock a “sell” rating in a report on Friday, May 17th. StockNews.com upgraded Netflix from a “hold” rating to a “buy” rating in a report on Monday, February 26th. Finally, UBS Group upped their target price on Netflix from $570.00 to $685.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat.com, Netflix presently has an average rating of “Moderate Buy” and an average price target of $630.53.

Check Out Our Latest Stock Analysis on NFLX

Netflix Price Performance

Shares of Netflix stock traded up $11.08 during mid-day trading on Monday, reaching $646.75. 2,615,200 shares of the stock traded hands, compared to its average volume of 4,237,346. The business has a 50-day moving average of $607.60 and a 200 day moving average of $550.52. Netflix, Inc. has a fifty-two week low of $344.73 and a fifty-two week high of $652.00. The stock has a market capitalization of $278.75 billion, a PE ratio of 44.88, a PEG ratio of 1.40 and a beta of 1.23. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.62.

Netflix (NASDAQ:NFLXGet Free Report) last announced its earnings results on Thursday, April 18th. The Internet television network reported $5.28 EPS for the quarter, beating analysts’ consensus estimates of $4.51 by $0.77. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The business had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $9.28 billion. During the same quarter in the prior year, the firm earned $2.88 earnings per share. The business’s revenue was up 14.8% compared to the same quarter last year. On average, analysts predict that Netflix, Inc. will post 18.31 EPS for the current year.

About Netflix

(Free Report)

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.

Featured Articles

Institutional Ownership by Quarter for Netflix (NASDAQ:NFLX)

Receive News & Ratings for Netflix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Netflix and related companies with MarketBeat.com's FREE daily email newsletter.