Perpetual Ltd Reduces Stake in Netflix, Inc. (NASDAQ:NFLX)

Perpetual Ltd lowered its holdings in Netflix, Inc. (NASDAQ:NFLX) by 15.5% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 2,017 shares of the Internet television network’s stock after selling 370 shares during the quarter. Perpetual Ltd’s holdings in Netflix were worth $1,431,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in NFLX. Denver PWM LLC purchased a new position in shares of Netflix in the 2nd quarter valued at about $25,000. Valued Wealth Advisors LLC boosted its position in shares of Netflix by 80.0% in the 1st quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock valued at $27,000 after purchasing an additional 20 shares during the period. Beaird Harris Wealth Management LLC boosted its position in shares of Netflix by 1,550.0% in the 4th quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock valued at $32,000 after purchasing an additional 62 shares during the period. Scarborough Advisors LLC acquired a new stake in shares of Netflix in the 4th quarter valued at about $32,000. Finally, Indiana Trust & Investment Management CO boosted its position in shares of Netflix by 112.0% in the 1st quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock valued at $32,000 after purchasing an additional 28 shares during the period. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Analyst Ratings Changes

NFLX has been the subject of a number of research analyst reports. Macquarie upped their target price on Netflix from $695.00 to $795.00 and gave the company an “outperform” rating in a research report on Friday. Guggenheim upped their target price on Netflix from $735.00 to $810.00 and gave the company a “buy” rating in a research report on Friday. Barclays reissued an “underweight” rating and issued a $550.00 target price on shares of Netflix in a research report on Monday, October 7th. UBS Group upped their target price on Netflix from $685.00 to $750.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Finally, Citigroup upped their target price on Netflix from $660.00 to $675.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Two analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $702.79.

Netflix Stock Performance

NASDAQ NFLX opened at $722.79 on Friday. Netflix, Inc. has a 1-year low of $344.73 and a 1-year high of $736.00. The company has a market capitalization of $311.52 billion, a P/E ratio of 50.16, a PEG ratio of 1.49 and a beta of 1.26. The business has a 50 day moving average price of $686.60 and a 200 day moving average price of $651.18. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, beating the consensus estimate of $4.74 by $0.14. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The firm had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $9.53 billion. During the same period last year, the business posted $3.29 EPS. Netflix’s quarterly revenue was up 16.8% on a year-over-year basis. Sell-side analysts expect that Netflix, Inc. will post 19.08 EPS for the current fiscal year.

Insiders Place Their Bets

In other Netflix news, Director Leslie J. Kilgore sold 383 shares of the firm’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $730.00, for a total transaction of $279,590.00. Following the completion of the transaction, the director now owns 35,262 shares of the company’s stock, valued at approximately $25,741,260. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Netflix news, CEO Gregory K. Peters sold 1,278 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $614.44, for a total transaction of $785,254.32. Following the completion of the transaction, the chief executive officer now owns 13,090 shares of the company’s stock, valued at approximately $8,043,019.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Leslie J. Kilgore sold 383 shares of Netflix stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $730.00, for a total value of $279,590.00. Following the completion of the sale, the director now directly owns 35,262 shares of the company’s stock, valued at approximately $25,741,260. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 225,167 shares of company stock valued at $150,492,460. Corporate insiders own 1.76% of the company’s stock.

About Netflix

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.