Main Street Group LTD Trims Holdings in Netflix, Inc. (NASDAQ:NFLX)

Main Street Group LTD lowered its holdings in Netflix, Inc. (NASDAQ:NFLX) by 3.4% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 1,045 shares of the Internet television network’s stock after selling 37 shares during the period. Main Street Group LTD’s holdings in Netflix were worth $704,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Netflix by 0.4% in the first quarter. Vanguard Group Inc. now owns 36,587,911 shares of the Internet television network’s stock worth $22,220,936,000 after acquiring an additional 149,341 shares during the period. Capital World Investors raised its holdings in Netflix by 0.7% in the 4th quarter. Capital World Investors now owns 11,744,636 shares of the Internet television network’s stock worth $5,718,265,000 after purchasing an additional 78,320 shares in the last quarter. Jennison Associates LLC lifted its position in shares of Netflix by 17.0% in the 1st quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock worth $3,875,655,000 after purchasing an additional 929,193 shares during the period. Norges Bank purchased a new stake in shares of Netflix in the 4th quarter worth about $2,558,598,000. Finally, Baillie Gifford & Co. boosted its stake in shares of Netflix by 2.3% during the 2nd quarter. Baillie Gifford & Co. now owns 4,762,069 shares of the Internet television network’s stock valued at $3,213,825,000 after purchasing an additional 106,756 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on NFLX. The Goldman Sachs Group increased their price target on shares of Netflix from $650.00 to $659.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th. TD Cowen raised their target price on Netflix from $725.00 to $775.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Citigroup upped their price target on Netflix from $660.00 to $675.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Oppenheimer reissued an “outperform” rating and set a $725.00 price objective on shares of Netflix in a research report on Tuesday, July 30th. Finally, Benchmark upped their target price on shares of Netflix from $450.00 to $545.00 and gave the stock a “sell” rating in a research report on Tuesday, July 16th. One 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $685.29.

Insider Transactions at Netflix

In other Netflix news, insider David A. Hyman sold 20,656 shares of the company’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 completion of the transaction, the insider now directly owns 31,610 shares in the company, valued at $19,128,159.30. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Netflix news, CEO Gregory K. Peters sold 4,783 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $675.00, for a total value of $3,228,525.00. Following the completion of the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at approximately $8,835,750. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David A. Hyman sold 20,656 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at $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 Stock Performance

Shares of NASDAQ NFLX traded down $17.85 during midday trading on Friday, hitting $665.77. 2,991,265 shares of the company’s stock traded hands, compared to its average volume of 3,796,436. The firm has a fifty day moving average of $659.89 and a 200 day moving average of $633.82. Netflix, Inc. has a 1 year low of $344.73 and a 1 year high of $711.33. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a market capitalization of $286.95 billion, a price-to-earnings 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 during the quarter, compared to analyst estimates of $9.53 billion. During the same period in the prior year, the business posted $3.29 EPS. Netflix’s revenue was up 16.8% on a year-over-year basis. On average, analysts forecast that Netflix, Inc. will post 19.08 earnings per share for the current year.

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.