Glenmede Trust Co. NA Decreases Position in Netflix, Inc. (NASDAQ:NFLX)

Glenmede Trust Co. NA trimmed its position in Netflix, Inc. (NASDAQ:NFLX) by 0.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 134,286 shares of the Internet television network’s stock after selling 1,037 shares during the quarter. Glenmede Trust Co. NA’s holdings in Netflix were worth $95,245,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. International Assets Investment Management LLC boosted its holdings in shares of Netflix by 116,620.0% during the 3rd quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock worth $4,080,522,000 after purchasing an additional 5,748,200 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in Netflix by 154.7% during the third quarter. Assenagon Asset Management S.A. now owns 1,058,431 shares of the Internet television network’s stock worth $750,713,000 after buying an additional 642,920 shares during the last quarter. Swedbank AB purchased a new stake in Netflix in the 1st quarter valued at $216,538,000. Jennison Associates LLC increased its stake in shares of Netflix by 4.7% in the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after acquiring an additional 316,594 shares during the last quarter. Finally, Westfield Capital Management Co. LP purchased a new position in shares of Netflix during the 3rd quarter worth $222,871,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Netflix

In other news, insider David A. Hyman sold 267 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at $24,202,828.70. This trade represents a 0.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Reed Hastings sold 25,074 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $680.92, for a total value of $17,073,388.08. Following the transaction, the chairman now directly owns 85 shares in the company, valued at $57,878.20. This represents a 99.66 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 185,866 shares of company stock worth $133,393,921. 1.76% of the stock is currently owned by insiders.

Netflix Trading Up 0.8 %

NFLX opened at $872.60 on Wednesday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. Netflix, Inc. has a 52 week low of $445.73 and a 52 week high of $908.00. The business’s 50 day moving average is $762.10 and its two-hundred day moving average is $695.13. The firm has a market cap of $373.00 billion, a price-to-earnings ratio of 49.38, a price-to-earnings-growth ratio of 1.67 and a beta of 1.25.

Netflix (NASDAQ:NFLX) last announced its 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. The business had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. On average, research analysts predict that Netflix, Inc. will post 19.78 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NFLX. UBS Group upped their price objective on shares of Netflix from $750.00 to $825.00 and gave the company a “buy” rating in a report on Friday, October 18th. Rosenblatt Securities lifted their price target on shares of Netflix from $635.00 to $680.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Wolfe Research reiterated an “outperform” rating on shares of Netflix in a research report on Friday, October 18th. Morgan Stanley upped their price target on Netflix from $820.00 to $830.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Finally, Needham & Company LLC boosted their price objective on shares of Netflix from $700.00 to $800.00 and gave the company a “buy” rating in a report on Friday, October 18th. Two investment 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. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $764.82.

Netflix 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.