Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lowered its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 12.4% during the fourth quarter, Holdings Channel reports. The fund owned 115,241 shares of the Internet television network’s stock after selling 16,385 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Netflix were worth $102,717,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Swedbank AB grew its holdings in Netflix by 1.8% during the 3rd quarter. Swedbank AB now owns 465,208 shares of the Internet television network’s stock valued at $329,958,000 after purchasing an additional 8,024 shares in the last quarter. Principal Financial Group Inc. lifted its position in Netflix by 13.3% in the 3rd quarter. Principal Financial Group Inc. now owns 1,692,563 shares of the Internet television network’s stock valued at $1,200,485,000 after purchasing an additional 198,148 shares during the last quarter. Summit Global Investments lifted its position in Netflix by 35.0% in the 3rd quarter. Summit Global Investments now owns 999 shares of the Internet television network’s stock valued at $709,000 after purchasing an additional 259 shares during the last quarter. Leavell Investment Management Inc. lifted its position in Netflix by 11.3% in the 3rd quarter. Leavell Investment Management Inc. now owns 622 shares of the Internet television network’s stock valued at $441,000 after purchasing an additional 63 shares during the last quarter. Finally, CWA Asset Management Group LLC bought a new stake in shares of Netflix during the 3rd quarter worth about $1,787,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. Seaport Res Ptn upgraded shares of Netflix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 15th. UBS Group boosted their price objective on shares of Netflix from $1,040.00 to $1,150.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Wedbush reaffirmed an “outperform” rating and set a $1,150.00 price objective (up from $950.00) on shares of Netflix in a research report on Wednesday, January 22nd. Canaccord Genuity Group upgraded shares of Netflix from a “hold” rating to a “buy” rating and lifted their target price for the company from $940.00 to $1,150.00 in a research note on Wednesday, January 22nd. Finally, Bank of America boosted their price objective on shares of Netflix from $1,000.00 to $1,175.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,021.70.

Insider Transactions at Netflix

In other Netflix news, Director Strive Masiyiwa sold 2,813 shares of the stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $1,007.87, for a total value of $2,835,138.31. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Reed Hastings sold 30,485 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $981.92, for a total value of $29,933,831.20. Following the sale, the chairman now directly owns 394 shares of the company’s stock, valued at approximately $386,876.48. This represents a 98.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 288,103 shares of company stock valued at $279,142,041 over the last 90 days. 1.76% of the stock is currently owned by corporate insiders.

Netflix Price Performance

NASDAQ:NFLX opened at $891.11 on Monday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. Netflix, Inc. has a 1 year low of $542.01 and a 1 year high of $1,064.50. The business has a 50 day simple moving average of $950.26 and a 200-day simple moving average of $842.54. The firm has a market capitalization of $381.18 billion, a price-to-earnings ratio of 44.94, a PEG ratio of 2.12 and a beta of 1.38.

Netflix (NASDAQ:NFLX) last posted its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, beating the consensus estimate of $4.20 by $0.07. The firm had revenue of $10.25 billion during the quarter, compared to analyst estimates of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The business’s quarterly revenue was up 16.0% on a year-over-year basis. During the same period in the previous year, the firm earned $2.11 EPS. Equities analysts forecast that Netflix, Inc. will post 24.58 EPS 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.