BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Reduces Holdings in Netflix, Inc. (NASDAQ:NFLX)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its position in Netflix, Inc. (NASDAQ:NFLX) by 13.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 71,898 shares of the Internet television network’s stock after selling 11,033 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Netflix were worth $50,995,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Maverick Capital Ltd. lifted its holdings in Netflix by 17,941.5% in the 3rd quarter. Maverick Capital Ltd. now owns 102,656 shares of the Internet television network’s stock worth $72,811,000 after buying an additional 102,087 shares in the last quarter. Encompass More Asset Management purchased a new stake in shares of Netflix during the third quarter worth about $855,000. Kolinsky Wealth Management LLC lifted its stake in shares of Netflix by 15.1% in the third quarter. Kolinsky Wealth Management LLC now owns 754 shares of the Internet television network’s stock worth $535,000 after acquiring an additional 99 shares in the last quarter. Point72 Europe London LLP boosted its holdings in Netflix by 596.6% in the third quarter. Point72 Europe London LLP now owns 31,000 shares of the Internet television network’s stock valued at $21,987,000 after purchasing an additional 26,550 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its stake in Netflix by 2.2% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 328,982 shares of the Internet television network’s stock valued at $233,337,000 after purchasing an additional 7,127 shares in the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider David A. Hyman sold 267 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total transaction of $204,433.89. Following the sale, the insider now owns 31,610 shares in the company, valued at approximately $24,202,828.70. This represents a 0.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Gregory K. Peters sold 4,392 shares of Netflix stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $725.00, for a total value of $3,184,200.00. Following the completion of the transaction, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at $9,490,250. This represents a 25.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 185,866 shares of company stock valued at $133,393,921. 1.76% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have commented on NFLX shares. Benchmark reiterated a “sell” rating and set a $545.00 price objective on shares of Netflix in a research note on Tuesday, October 15th. Morgan Stanley increased their price target on shares of Netflix from $820.00 to $830.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Wolfe Research reissued an “outperform” rating on shares of Netflix in a report on Friday, October 18th. JPMorgan Chase & Co. increased their target price on Netflix from $750.00 to $850.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Finally, Guggenheim boosted their price target on Netflix from $810.00 to $825.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. Two equities research 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $764.82.

Netflix Stock Performance

Shares of NASDAQ:NFLX opened at $886.81 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. The business’s fifty day moving average price is $773.01 and its two-hundred day moving average price is $699.54. Netflix, Inc. has a fifty-two week low of $445.73 and a fifty-two week high of $908.00. The stock has a market capitalization of $379.07 billion, a price-to-earnings ratio of 50.19, a price-to-earnings-growth ratio of 1.69 and a beta of 1.25.

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

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.