Ocean Capital Management LLC Cuts Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Ocean Capital Management LLC trimmed its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 18.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 8,155 shares of the Internet television network’s stock after selling 1,833 shares during the period. Netflix accounts for about 1.6% of Ocean Capital Management LLC’s investment portfolio, making the stock its 13th biggest holding. Ocean Capital Management LLC’s holdings in Netflix were worth $3,971,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of NFLX. Fairfield Bush & CO. raised its stake in shares of Netflix by 26.5% during the 1st quarter. Fairfield Bush & CO. now owns 2,446 shares of the Internet television network’s stock worth $916,000 after acquiring an additional 512 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Netflix by 21.3% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 480,044 shares of the Internet television network’s stock worth $179,820,000 after purchasing an additional 84,179 shares during the last quarter. Sequoia Financial Advisors LLC increased its position in shares of Netflix by 14.2% during the first quarter. Sequoia Financial Advisors LLC now owns 2,922 shares of the Internet television network’s stock worth $1,094,000 after purchasing an additional 363 shares in the last quarter. Candriam Luxembourg S.C.A. lifted its holdings in shares of Netflix by 6.9% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 36,336 shares of the Internet television network’s stock valued at $13,610,000 after purchasing an additional 2,358 shares during the last quarter. Finally, Brown Brothers Harriman & Co. boosted its position in shares of Netflix by 13.1% in the 1st quarter. Brown Brothers Harriman & Co. now owns 3,808 shares of the Internet television network’s stock worth $1,426,000 after purchasing an additional 441 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors.

Netflix Trading Down 1.0 %

NFLX stock opened at $607.33 on Friday. Netflix, Inc. has a 12-month low of $315.62 and a 12-month high of $634.39. The business’s 50-day moving average is $581.81 and its 200 day moving average is $487.70. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.69. The stock has a market cap of $262.83 billion, a price-to-earnings ratio of 50.57, a PEG ratio of 1.66 and a beta of 1.22.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Tuesday, January 23rd. The Internet television network reported $2.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.09). Netflix had a return on equity of 24.76% and a net margin of 16.04%. The firm had revenue of $8.83 billion during the quarter, compared to analyst estimates of $8.72 billion. During the same period in the prior year, the firm earned $0.12 earnings per share. The business’s revenue was up 12.5% on a year-over-year basis. On average, sell-side analysts anticipate that Netflix, Inc. will post 17.01 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Seaport Res Ptn cut Netflix from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 30th. Canaccord Genuity Group increased their price objective on shares of Netflix from $575.00 to $625.00 and gave the company a “buy” rating in a research report on Wednesday, January 24th. Robert W. Baird boosted their target price on shares of Netflix from $500.00 to $600.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Morgan Stanley boosted their price target on Netflix from $550.00 to $600.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. Finally, Loop Capital raised their price objective on Netflix from $585.00 to $700.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $583.18.

Insider Activity

In related news, Chairman Reed Hastings sold 25,998 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $470.51, for a total transaction of $12,232,318.98. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Gregory K. Peters sold 5,352 shares of Netflix stock in a transaction on Monday, March 18th. The stock was sold at an average price of $625.00, for a total transaction of $3,345,000.00. Following the transaction, the chief executive officer now owns 13,090 shares in the company, valued at approximately $8,181,250. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Reed Hastings sold 25,998 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $470.51, for a total transaction of $12,232,318.98. The disclosure for this sale can be found here. Insiders sold 273,767 shares of company stock worth $151,298,232 over the last three months. Insiders own 2.45% of the company’s stock.

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.