Netflix, Inc. (NASDAQ:NFLX) Stock Position Trimmed by Firsthand Capital Management Inc.

Firsthand Capital Management Inc. trimmed its position in Netflix, Inc. (NASDAQ:NFLX) by 66.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,000 shares of the Internet television network’s stock after selling 10,000 shares during the quarter. Netflix comprises 7.0% of Firsthand Capital Management Inc.’s holdings, making the stock its 3rd largest position. Firsthand Capital Management Inc.’s holdings in Netflix were worth $3,546,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Jennison Associates LLC lifted its holdings 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 valued at $4,958,417,000 after buying an additional 316,594 shares during the period. International Assets Investment Management LLC raised its position in Netflix by 116,620.0% during the third quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock valued at $4,080,522,000 after acquiring an additional 5,748,200 shares in the last quarter. Baillie Gifford & Co. lifted its holdings in Netflix by 2.3% in the second quarter. Baillie Gifford & Co. now owns 4,762,069 shares of the Internet television network’s stock valued at $3,213,825,000 after acquiring an additional 106,756 shares during the period. Fisher Asset Management LLC boosted its position in Netflix by 2.8% in the 3rd quarter. Fisher Asset Management LLC now owns 4,481,939 shares of the Internet television network’s stock worth $3,178,905,000 after purchasing an additional 123,987 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in shares of Netflix by 3.1% during the 2nd quarter. Legal & General Group Plc now owns 3,449,114 shares of the Internet television network’s stock worth $2,327,738,000 after purchasing an additional 104,332 shares during the period. Institutional investors and hedge funds own 80.93% of the company’s stock.

Insider Transactions at Netflix

In related news, Chairman Reed Hastings sold 25,074 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $680.92, for a total transaction of $17,073,388.08. Following the completion of the transaction, the chairman now directly owns 85 shares in the company, valued at $57,878.20. This trade represents a 99.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Gregory K. Peters sold 4,392 shares of the business’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $725.00, for a total transaction of $3,184,200.00. Following the sale, the chief executive officer now owns 13,090 shares in the company, valued at $9,490,250. This trade represents a 25.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 185,866 shares of company stock worth $133,393,921. 1.76% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on NFLX shares. Rosenblatt Securities increased their price target on shares of Netflix from $635.00 to $680.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. KeyCorp increased their target price 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 issued a $550.00 price target on shares of Netflix in a research note on Friday, October 18th. UBS Group increased their price target on Netflix from $750.00 to $825.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Netflix from $590.00 to $650.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat, Netflix currently has a consensus rating of “Moderate Buy” and an average price target of $764.82.

Netflix Price Performance

NFLX stock opened at $886.81 on Friday. Netflix, Inc. has a 52-week low of $445.73 and a 52-week high of $908.00. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. The stock has a market cap 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. The business has a fifty day moving average of $773.01 and a two-hundred day moving average of $699.54.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.77 billion. As a group, research analysts anticipate that Netflix, Inc. will post 19.78 earnings per share for the current year.

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.