Pacer Advisors Inc. Reduces Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Pacer Advisors Inc. decreased its position in Netflix, Inc. (NASDAQ:NFLX) by 4.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 61,892 shares of the Internet television network’s stock after selling 2,664 shares during the quarter. Pacer Advisors Inc.’s holdings in Netflix were worth $43,898,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of NFLX. Advisors Asset Management Inc. raised its holdings in shares of Netflix by 10.2% during the first quarter. Advisors Asset Management Inc. now owns 5,092 shares of the Internet television network’s stock valued at $3,093,000 after acquiring an additional 471 shares in the last quarter. Westwood Holdings Group Inc. boosted its stake in shares of Netflix by 24.8% during the 1st quarter. Westwood Holdings Group Inc. now owns 3,570 shares of the Internet television network’s stock valued at $2,168,000 after purchasing an additional 710 shares in the last quarter. Gamco Investors INC. ET AL increased its position in shares of Netflix by 2.1% during the first quarter. Gamco Investors INC. ET AL now owns 20,420 shares of the Internet television network’s stock valued at $12,402,000 after buying an additional 413 shares during the period. Epoch Investment Partners Inc. bought a new position in Netflix in the first quarter worth about $260,000. Finally, Lazard Asset Management LLC lifted its holdings in Netflix by 35.0% in the first quarter. Lazard Asset Management LLC now owns 128,449 shares of the Internet television network’s stock worth $78,010,000 after buying an additional 33,269 shares during the period. 80.93% of the stock is owned by institutional investors.

Netflix Stock Performance

Shares of NASDAQ NFLX opened at $896.05 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. Netflix, Inc. has a 1 year low of $445.73 and a 1 year high of $908.00. The firm has a fifty day moving average price of $751.39 and a 200-day moving average price of $688.25. The stock has a market cap of $383.03 billion, a PE ratio of 50.71, a price-to-earnings-growth ratio of 1.68 and a beta of 1.25.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, beating analysts’ consensus estimates 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. Equities analysts anticipate that Netflix, Inc. will post 19.78 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Wolfe Research restated an “outperform” rating on shares of Netflix in a research report on Friday, October 18th. Morgan Stanley boosted their target price on shares of Netflix from $820.00 to $830.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Guggenheim increased their price target on shares of Netflix from $810.00 to $825.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Wells Fargo & Company boosted their price objective on shares of Netflix from $758.00 to $797.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Finally, The Goldman Sachs Group set a $750.00 target price on shares of Netflix in a research note on Friday, October 18th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat, Netflix presently has a consensus rating of “Moderate Buy” and a consensus target price of $764.82.

Insider Buying and Selling

In other Netflix news, Director Anne M. Sweeney sold 589 shares of Netflix stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $880.00, for a total value of $518,320.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Timothy M. Haley sold 647 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $800.19, for a total transaction of $517,722.93. The disclosure for this sale can be found here. In the last three months, insiders have sold 185,866 shares of company stock valued at $133,393,921. Corporate 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.