Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Great Lakes Advisors LLC

Great Lakes Advisors LLC reduced its stake in Netflix, Inc. (NASDAQ:NFLX – Free Report) by 25.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,363 shares of the Internet television network’s stock after selling 7,120 shares during the period. Great Lakes Advisors LLC’s holdings in Netflix were worth $14,417,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in NFLX. Vanguard Group Inc. raised its stake in Netflix by 0.4% in the first quarter. Vanguard Group Inc. now owns 36,587,911 shares of the Internet television network’s stock valued at $22,220,936,000 after buying an additional 149,341 shares during the last quarter. Capital World Investors boosted its stake in shares of Netflix by 0.7% during the fourth quarter. Capital World Investors now owns 11,744,636 shares of the Internet television network’s stock valued at $5,718,265,000 after buying an additional 78,320 shares during the last quarter. Jennison Associates LLC increased its holdings in Netflix by 17.0% in the first quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock worth $3,875,655,000 after buying an additional 929,193 shares in the last quarter. Norges Bank purchased a new position in shares of Netflix in the 4th quarter valued at approximately $2,558,598,000. Finally, Baillie Gifford & Co. raised its holdings in shares of Netflix by 2.3% in the 2nd quarter. Baillie Gifford & Co. now owns 4,762,069 shares of the Internet television network’s stock valued at $3,213,825,000 after purchasing an additional 106,756 shares in the last quarter. 80.93% of shares are currently held by institutional investors.

Indoor activity

In related news, CFO Spencer Adam Neumann sold 433 shares of Netflix stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $626.19, for a total value of $271,140.27. The sale was disclosed in a legal filing with the SEC, which is available via this hyperlink. In other news, CFO Spencer Adam Neumann sold 433 shares of Netflix stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $626.19, for a total value of $271,140.27. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC’s website. Also, Chairman Reed Hastings sold 25,074 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $680.92, for a total transaction of $17,073,388.08. Following the sale, the chairman now owns 85 shares in the company, valued at approximately $57,878.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 157,831 shares of company stock worth $102,721,884. Insiders own 1.76% of the company’s shares.

Netflix price performance

Shares of Netflix opened at $665.77 on Friday. Netflix, Inc. it has a 52-week low of $344.73 and a 52-week high of $711.33. The company has a current ratio of 0.95, a quick ratio of 0.95, and a debt-to-equity ratio of 0.55. The stock has a market cap of $286.95 billion, a PE ratio of 46.20, a price-to-earnings-growth ratio of 1.44 and a beta of 1.26. The company’s 50-day moving average price is $659.89, and its two-hundred-day moving average price is $634.23.

Netflix (NASDAQ:NFLX – Get Your Free Report ) last released its earnings results on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, topping analysts’ consensus estimates of $4.74 by $0.14. The company had revenue of $9.56 billion for the quarter, compared to the consensus estimate of $9.53 billion. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The company’s revenue for the quarter was up 16.8% year over year. During the same period in the previous year, the firm earned $3.29 EPS. As a group, sell-side analysts anticipate that Netflix, Inc. will post 19.08 EPS for the current fiscal year.

Changes in Analyst Ratings

Several equities analysts recently issued reports on NFLX shares. Sanford C. Bernstein boosted their price objective on Netflix from $600.00 to $625.00 and gave the stock a “market perform” rating in a research note on Friday, July 19th. Redburn Atlantic upped their target price on shares of Netflix from $740.00 to $760.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Piper Sandler upped their price objective on shares of Netflix from $600.00 to $650.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. Oppenheimer reissued an “outperform” rating and issued a $725.00 target price on shares of Netflix in a report on Tuesday, July 30th. Finally, TD Cowen boosted their price target on Netflix from $725.00 to $775.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $685.29, according to MarketBeat.

Check out the latest research report on Netflix

About Netflix

(Free Report)

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films and games in different genres and languages. The company also offers members the ability to stream content through a range of internet-connected devices, including televisions, digital video players, TV set-top boxes and mobile devices.

Further reading

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