Netflix, Inc. (NASDAQ:NFLX) Stock Holdings Lessened by Essex Savings Bank

Essex Savings Bank lowered its stake in Netflix, Inc. (NASDAQ:NFLX) by 18.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 882 shares of the Internet television network’s stock after selling 203 shares during the period. Essex Savings Bank’s holdings in Netflix were worth $401,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Capital International Investors grew its position in shares of Netflix by 27.3% in the 1st quarter. Capital International Investors now owns 13,695,433 shares of the Internet television network’s stock valued at $5,142,631,000 after acquiring an additional 2,936,451 shares during the period. Wellington Management Group LLP grew its position in shares of Netflix by 181.8% in the 1st quarter. Wellington Management Group LLP now owns 3,373,506 shares of the Internet television network’s stock valued at $1,266,751,000 after acquiring an additional 2,176,569 shares during the period. Advisor Group Holdings Inc. bought a new position in shares of Netflix in the 1st quarter valued at about $42,595,000. Sands Capital Management LLC boosted its holdings in shares of Netflix by 30.7% during the 1st quarter. Sands Capital Management LLC now owns 5,536,697 shares of the Internet television network’s stock worth $2,079,030,000 after buying an additional 1,299,967 shares during the period. Finally, Jennison Associates LLC boosted its holdings in shares of Netflix by 15.1% during the 1st quarter. Jennison Associates LLC now owns 8,950,493 shares of the Internet television network’s stock worth $3,360,910,000 after buying an additional 1,174,164 shares during the period. 82.30% of the stock is currently owned by institutional investors.

NFLX traded up $3.08 during trading on Friday, reaching $488.88. 5,924,310 shares of the company’s stock were exchanged, compared to its average volume of 10,512,042. Netflix, Inc. has a one year low of $252.28 and a one year high of $575.37. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.64. The stock has a market capitalization of $214.25 billion, a PE ratio of 82.44, a price-to-earnings-growth ratio of 2.58 and a beta of 0.96. The firm has a fifty day moving average price of $476.08 and a two-hundred day moving average price of $407.12.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, July 16th. The Internet television network reported $1.59 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.81 by ($0.22). Netflix had a return on equity of 33.32% and a net margin of 11.85%. The business had revenue of $6.15 billion for the quarter, compared to the consensus estimate of $6.08 billion. During the same period in the previous year, the firm earned $0.60 earnings per share. Sell-side analysts expect that Netflix, Inc. will post 6.28 earnings per share for the current year.

In other news, insider Gregory K. Peters sold 5,366 shares of the company’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $450.00, for a total value of $2,414,700.00. Following the sale, the insider now directly owns 18,456 shares of the company’s stock, valued at approximately $8,305,200. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Leslie J. Kilgore sold 1,481 shares of the company’s stock in a transaction on Monday, July 27th. The shares were sold at an average price of $485.57, for a total transaction of $719,129.17. Following the completion of the sale, the director now directly owns 35,643 shares in the company, valued at $17,307,171.51. The disclosure for this sale can be found here. Insiders have sold a total of 189,612 shares of company stock worth $90,145,458 over the last three months. Insiders own 3.40% of the company’s stock.

Several brokerages recently commented on NFLX. DZ Bank reaffirmed a “sell” rating on shares of Netflix in a report on Friday, July 17th. Societe Generale reaffirmed a “sell” rating and set a $270.00 target price on shares of Netflix in a report on Tuesday, July 21st. Loop Capital lifted their target price on shares of Netflix from $500.00 to $600.00 and gave the stock a “buy” rating in a report on Wednesday. Pivotal Research reaffirmed a “buy” rating and set a $600.00 target price (up previously from $580.00) on shares of Netflix in a report on Friday, July 17th. Finally, Benchmark lifted their target price on shares of Netflix from $340.00 to $397.00 and gave the stock a “sell” rating in a report on Monday, July 13th. Six research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $483.56.

About Netflix

Netflix, Inc provides Internet entertainment services. The company operates in three segments: Domestic streaming, International streaming, and Domestic DVD. It offers TV series, documentaries, and feature films across various genres and languages. The company provides members the ability to receive streaming content through a host of Internet-connected screens, including TVs, digital video players, television set-top boxes, and mobile devices.

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Institutional Ownership by Quarter for Netflix (NASDAQ:NFLX)

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