DMC Group LLC Reduces Holdings in Netflix, Inc. (NASDAQ:NFLX)

DMC Group LLC lowered its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 6.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,986 shares of the Internet television network’s stock after selling 146 shares during the quarter. Netflix comprises 1.1% of DMC Group LLC’s portfolio, making the stock its 23rd largest position. DMC Group LLC’s holdings in Netflix were worth $1,409,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. GQG Partners LLC purchased a new stake in Netflix in the first quarter worth about $1,450,476,000. Jennison Associates LLC boosted 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 in the last quarter. Global Assets Advisory LLC purchased a new stake in shares of Netflix in the 1st quarter worth approximately $436,514,000. Jericho Capital Asset Management L.P. bought a new position in Netflix during the 1st quarter valued at approximately $372,293,000. Finally, Swedbank AB purchased a new position in Netflix during the first quarter valued at $216,538,000. 80.93% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. BMO Capital Markets reissued an “outperform” rating and issued a $825.00 target price (up from $770.00) on shares of Netflix in a research note on Friday. Redburn Atlantic increased their price objective on shares of Netflix from $740.00 to $760.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Evercore ISI lifted their target price on shares of Netflix from $750.00 to $775.00 and gave the stock an “outperform” rating in a report on Friday. Argus increased their price target on shares of Netflix from $660.00 to $767.00 and gave the company a “buy” rating in a report on Tuesday, July 2nd. Finally, Morgan Stanley boosted their price objective on shares of Netflix from $820.00 to $830.00 and gave the stock an “overweight” rating in a report on Friday. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $747.70.

Netflix Stock Performance

NASDAQ:NFLX opened at $763.89 on Friday. The stock has a 50-day moving average price of $696.38 and a 200 day moving average price of $654.94. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. Netflix, Inc. has a 12-month low of $392.26 and a 12-month high of $766.28. The stock has a market capitalization of $329.24 billion, a P/E ratio of 53.01, a P/E/G ratio of 1.49 and a beta of 1.26.

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

Insider Activity at Netflix

In other Netflix news, Director Leslie J. Kilgore sold 383 shares of the business’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $730.00, for a total value of $279,590.00. Following the sale, the director now owns 35,262 shares in the company, valued at $25,741,260. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Netflix news, CEO Gregory K. Peters sold 1,278 shares of Netflix stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $614.44, for a total value of $785,254.32. Following the sale, the chief executive officer now owns 13,090 shares of the company’s stock, valued at $8,043,019.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Leslie J. Kilgore sold 383 shares of the stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $730.00, for a total value of $279,590.00. Following the transaction, the director now owns 35,262 shares of the company’s stock, valued at $25,741,260. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 225,167 shares of company stock valued at $150,492,460. Corporate insiders own 1.76% 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.