Gardner Lewis Asset Management L P Reduces Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Gardner Lewis Asset Management L P trimmed its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 3.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,278 shares of the Internet television network’s stock after selling 224 shares during the quarter. Netflix accounts for approximately 1.3% of Gardner Lewis Asset Management L P’s holdings, making the stock its 26th largest position. Gardner Lewis Asset Management L P’s holdings in Netflix were worth $4,912,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Obermeyer Wood Investment Counsel Lllp lifted its holdings in Netflix by 2.8% in the first quarter. Obermeyer Wood Investment Counsel Lllp now owns 623 shares of the Internet television network’s stock valued at $378,000 after acquiring an additional 17 shares during the period. Private Portfolio Partners LLC lifted its stake in shares of Netflix by 1.7% in the 1st quarter. Private Portfolio Partners LLC now owns 1,042 shares of the Internet television network’s stock worth $633,000 after purchasing an additional 17 shares during the period. FAS Wealth Partners Inc. boosted its holdings in shares of Netflix by 1.5% in the second quarter. FAS Wealth Partners Inc. now owns 1,164 shares of the Internet television network’s stock worth $786,000 after buying an additional 17 shares during the last quarter. Founders Financial Alliance LLC grew its position in Netflix by 2.4% during the fourth quarter. Founders Financial Alliance LLC now owns 757 shares of the Internet television network’s stock valued at $369,000 after buying an additional 18 shares during the period. Finally, Capital Advisors Ltd. LLC increased its holdings in Netflix by 4.6% during the first quarter. Capital Advisors Ltd. LLC now owns 411 shares of the Internet television network’s stock valued at $250,000 after buying an additional 18 shares during the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NFLX has been the topic of a number of recent research reports. UBS Group raised their target price on Netflix from $685.00 to $750.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Pivotal Research lifted their price objective on Netflix from $800.00 to $900.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Macquarie reissued an “outperform” rating and issued a $685.00 target price on shares of Netflix in a report on Tuesday, July 16th. Piper Sandler lifted their price target on shares of Netflix from $600.00 to $650.00 and gave the company a “neutral” rating in a report on Friday, July 19th. Finally, Guggenheim increased their price objective on shares of Netflix from $700.00 to $735.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $685.29.

Netflix Price Performance

Netflix stock opened at $706.91 on Wednesday. The firm has a market capitalization of $304.68 billion, a PE ratio of 49.06, a price-to-earnings-growth ratio of 1.40 and a beta of 1.26. Netflix, Inc. has a 12-month low of $344.73 and a 12-month high of $711.33. The firm has a 50-day moving average price of $660.64 and a 200-day moving average price of $639.15. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.74 by $0.14. The business had revenue of $9.56 billion during 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 firm’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same quarter last year, the firm earned $3.29 earnings per share. As a group, equities research analysts forecast that Netflix, Inc. will post 19.08 EPS for the current year.

Insider Activity at Netflix

In other news, insider David A. Hyman sold 20,656 shares of Netflix stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the completion of the sale, the insider now directly owns 31,610 shares in the company, valued at $19,128,159.30. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Jay C. Hoag sold 43,750 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $687.07, for a total value of $30,059,312.50. Following the transaction, the director now owns 95,040 shares of the company’s stock, valued at $65,299,132.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider David A. Hyman sold 20,656 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total value of $12,499,565.28. Following the transaction, the insider now owns 31,610 shares in the company, valued at approximately $19,128,159.30. The disclosure for this sale can be found here. Insiders sold a total of 196,798 shares of company stock worth $129,552,672 in the last quarter. 1.76% of the stock is owned by company insiders.

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.