Primecap Management Co. CA Reduces Holdings in Netflix, Inc. (NASDAQ:NFLX)

Primecap Management Co. CA lessened its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 1.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 167,390 shares of the Internet television network’s stock after selling 1,900 shares during the quarter. Primecap Management Co. CA’s holdings in Netflix were worth $81,499,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in NFLX. Norges Bank purchased a new stake in Netflix in the fourth quarter valued at $2,558,598,000. International Assets Investment Management LLC boosted its stake in Netflix by 15,039.1% during the fourth quarter. International Assets Investment Management LLC now owns 2,075,569 shares of the Internet television network’s stock worth $1,010,553,000 after buying an additional 2,061,859 shares during the period. Jennison Associates LLC boosted its stake in Netflix by 40.6% during the fourth quarter. Jennison Associates LLC now owns 5,452,271 shares of the Internet television network’s stock worth $2,654,602,000 after buying an additional 1,573,978 shares during the period. Alecta Tjanstepension Omsesidigt raised its stake in shares of Netflix by 171.4% in 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 stake in shares of Netflix in the 3rd quarter valued at approximately $99,219,000. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Spencer Adam Neumann sold 564 shares of the firm’s stock in a transaction that occurred 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 filing with the SEC, which is available at this link. In related news, insider David A. Hyman sold 268 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $593.62, for a total value of $159,090.16. Following the completion of the sale, the insider now owns 31,610 shares in the company, valued at approximately $18,764,328.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Spencer Adam Neumann sold 564 shares of the 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 disclosure for this sale can be found here. In the last three months, insiders sold 78,039 shares of company stock valued at $46,401,083. Insiders own 1.76% of the company’s stock.

Netflix Stock Up 1.7 %

NFLX stock traded up $11.08 during midday trading on Friday, reaching $646.75. 2,615,260 shares of the company were exchanged, compared to its average volume of 3,191,080. The stock’s 50-day simple moving average is $607.60 and its 200 day simple moving average is $549.72. Netflix, Inc. has a 1-year low of $344.73 and a 1-year high of $652.00. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market cap of $278.75 billion, a price-to-earnings ratio of 44.88, a price-to-earnings-growth ratio of 1.37 and a beta of 1.23.

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

Analyst Ratings Changes

Several research firms recently weighed in on NFLX. BMO Capital Markets reiterated an “outperform” rating and issued a $713.00 target price (up previously from $638.00) on shares of Netflix in a report on Wednesday, April 17th. Morgan Stanley lifted their price objective on Netflix from $600.00 to $700.00 and gave the company an “overweight” rating in a research note on Friday, April 12th. Wedbush reissued an “outperform” rating and set a $725.00 target price on shares of Netflix in a research note on Monday, May 20th. Benchmark raised their target price on Netflix from $440.00 to $450.00 and gave the company a “sell” rating in a report on Friday, May 17th. Finally, StockNews.com upgraded shares of Netflix from a “hold” rating to a “buy” rating in a research note on Monday, February 26th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $630.53.

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.