Primecap Management Co. CA Decreases Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Primecap Management Co. CA reduced its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 1.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 160,390 shares of the Internet television network’s stock after selling 2,100 shares during the quarter. Primecap Management Co. CA’s holdings in Netflix were worth $113,760,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NFLX. Denver PWM LLC purchased a new stake in Netflix in the 2nd quarter valued at approximately $25,000. Proffitt & Goodson Inc. raised its holdings in shares of Netflix by 380.0% in the second quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock worth $32,000 after acquiring an additional 38 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. lifted its position in shares of Netflix by 700.0% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock valued at $34,000 after acquiring an additional 42 shares in the last quarter. AlphaMark Advisors LLC lifted its position in shares of Netflix by 642.9% in the second quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock valued at $35,000 after acquiring an additional 45 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. acquired a new stake in shares of Netflix during the third quarter valued at $37,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Stock Up 1.4 %

Shares of NASDAQ NFLX opened at $896.05 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13. Netflix, Inc. has a 1 year low of $445.73 and a 1 year high of $908.00. The stock’s 50-day simple moving average is $751.39 and its 200-day simple moving average is $688.25. The firm has a market cap of $383.03 billion, a price-to-earnings ratio of 50.71, a PEG ratio of 1.68 and a beta of 1.25.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data 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. The firm had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. As a group, equities analysts anticipate that Netflix, Inc. will post 19.78 earnings per share for the current fiscal year.

Insider Activity at Netflix

In related news, Director Anne M. Sweeney sold 589 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $880.00, for a total transaction of $518,320.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Timothy M. Haley sold 11,090 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $757.96, for a total value of $8,405,776.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 185,866 shares of company stock valued at $133,393,921. Corporate insiders own 1.76% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on NFLX. KeyCorp raised their price target on shares of Netflix from $760.00 to $785.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Barclays restated an “underweight” rating and set a $550.00 target price on shares of Netflix in a research report on Friday, October 18th. UBS Group boosted their price target on Netflix from $750.00 to $825.00 and gave the company a “buy” rating in a report on Friday, October 18th. Oppenheimer raised their price objective on Netflix from $775.00 to $825.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Finally, Morgan Stanley upped their target price on Netflix from $820.00 to $830.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat, Netflix currently has an average rating of “Moderate Buy” and a consensus target price of $764.82.

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.