Baillie Gifford & Co. Sells 54,998 Shares of Netflix, Inc. (NASDAQ:NFLX)

Baillie Gifford & Co. reduced its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 1.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,707,071 shares of the Internet television network’s stock after selling 54,998 shares during the period. Netflix accounts for approximately 2.5% of Baillie Gifford & Co.’s portfolio, making the stock its 11th largest position. Baillie Gifford & Co.’s holdings in Netflix were worth $3,338,584,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Avantax Advisory Services Inc. lifted its stake in Netflix by 15.3% in the first quarter. Avantax Advisory Services Inc. now owns 6,508 shares of the Internet television network’s stock worth $3,952,000 after acquiring an additional 865 shares during the period. Sheets Smith Wealth Management boosted its stake in shares of Netflix by 18.9% during the 1st quarter. Sheets Smith Wealth Management now owns 798 shares of the Internet television network’s stock valued at $485,000 after purchasing an additional 127 shares in the last quarter. Cozad Asset Management Inc. increased its position in shares of Netflix by 6.7% during the first quarter. Cozad Asset Management Inc. now owns 681 shares of the Internet television network’s stock valued at $414,000 after buying an additional 43 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in Netflix by 5.4% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 165,959 shares of the Internet television network’s stock worth $100,792,000 after buying an additional 8,446 shares in the last quarter. Finally, Koshinski Asset Management Inc. purchased a new stake in Netflix in the first quarter worth about $1,304,000. 80.93% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

NFLX has been the subject of a number of research reports. Citigroup increased their price objective on Netflix from $660.00 to $675.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Bank of America increased their price target on shares of Netflix from $740.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Wolfe Research reissued an “outperform” rating on shares of Netflix in a research note on Friday, October 18th. Evercore ISI raised their target price on shares of Netflix from $750.00 to $775.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. Finally, Jefferies Financial Group lifted their target price on shares of Netflix from $780.00 to $800.00 and gave the company a “buy” rating in a report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $748.15.

Netflix Price Performance

Shares of NFLX stock opened at $805.44 on Tuesday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. The stock has a fifty day simple moving average of $723.63 and a two-hundred day simple moving average of $673.70. The stock has a market capitalization of $344.29 billion, a price-to-earnings ratio of 45.58, a P/E/G ratio of 1.53 and a beta of 1.25. Netflix, Inc. has a twelve month low of $442.60 and a twelve month high of $806.82.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.09 by $0.31. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The business had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.77 billion. On average, analysts predict that Netflix, Inc. will post 19.78 EPS for the current fiscal year.

Insider Activity at Netflix

In other Netflix news, insider David A. Hyman sold 267 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total value of $204,433.89. Following the completion of the sale, the insider now owns 31,610 shares of the company’s stock, valued at approximately $24,202,828.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider David A. Hyman sold 267 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total value of $204,433.89. Following the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at $24,202,828.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Spencer Adam Neumann sold 433 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $772.10, for a total value of $334,319.30. The disclosure for this sale can be found here. Insiders sold 204,437 shares of company stock valued at $146,229,378 over the last 90 days. Insiders own 1.76% of the company’s stock.

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.