Norden Group LLC Sells 2,407 Shares of Netflix, Inc. (NASDAQ:NFLX)

Norden Group LLC decreased its position in Netflix, Inc. (NASDAQ:NFLX) by 27.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,209 shares of the Internet television network’s stock after selling 2,407 shares during the quarter. Netflix accounts for 0.8% of Norden Group LLC’s portfolio, making the stock its 25th largest position. Norden Group LLC’s holdings in Netflix were worth $4,190,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. SRS Capital Advisors Inc. lifted its position in Netflix by 22.8% in the second quarter. SRS Capital Advisors Inc. now owns 1,092 shares of the Internet television network’s stock valued at $737,000 after purchasing an additional 203 shares during the last quarter. EFG Asset Management Americas Corp. raised its holdings in shares of Netflix by 43.4% during the second quarter. EFG Asset Management Americas Corp. now owns 12,513 shares of the Internet television network’s stock valued at $8,445,000 after acquiring an additional 3,788 shares in the last quarter. Cullen Frost Bankers Inc. raised its holdings in shares of Netflix by 5.8% during the second quarter. Cullen Frost Bankers Inc. now owns 25,527 shares of the Internet television network’s stock valued at $17,228,000 after acquiring an additional 1,388 shares in the last quarter. Intelligence Driven Advisers LLC raised its holdings in shares of Netflix by 87.1% during the second quarter. Intelligence Driven Advisers LLC now owns 1,046 shares of the Internet television network’s stock valued at $706,000 after acquiring an additional 487 shares in the last quarter. Finally, Hanlon Investment Management Inc. bought a new position in shares of Netflix during the second quarter valued at approximately $209,000. Institutional investors own 80.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on NFLX. Benchmark upped their target price on Netflix from $450.00 to $545.00 and gave the company a “sell” rating in a report on Tuesday, July 16th. 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 research note on Friday, July 19th. Piper Sandler upped their price target on Netflix from $600.00 to $650.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th. Redburn Atlantic upped their price target on Netflix from $740.00 to $760.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Finally, Morgan Stanley upped their price target on Netflix from $700.00 to $780.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $685.29.

Netflix Stock Performance

Shares of NASDAQ NFLX traded down $17.85 during trading on Friday, hitting $665.77. The company had a trading volume of 2,991,265 shares, compared to its average volume of 3,796,436. The stock has a 50 day simple moving average of $659.89 and a 200 day simple moving average of $633.82. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95. Netflix, Inc. has a 12 month low of $344.73 and a 12 month high of $711.33. The firm has a market capitalization of $286.95 billion, a P/E ratio of 46.20, a price-to-earnings-growth ratio of 1.44 and a beta of 1.27.

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

Insider Transactions at Netflix

In other news, insider David A. Hyman sold 20,656 shares of the firm’s stock in a transaction dated 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 transaction, the insider now owns 31,610 shares of the company’s stock, valued at $19,128,159.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Gregory K. Peters sold 4,783 shares of the stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $675.00, for a total transaction of $3,228,525.00. Following the completion of the sale, the chief executive officer now owns 13,090 shares in the company, valued at $8,835,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David A. Hyman sold 20,656 shares of the firm’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 value of $12,499,565.28. Following the transaction, the insider now owns 31,610 shares of the company’s stock, valued at approximately $19,128,159.30. The disclosure for this sale can be found here. Insiders have sold 157,831 shares of company stock valued at $102,721,884 over the last quarter. 1.76% of the stock is currently owned by company insiders.

Netflix 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.