Vontobel Holding Ltd. Trims Stake in Netflix, Inc. (NASDAQ:NFLX)

Vontobel Holding Ltd. cut its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 18.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 37,774 shares of the Internet television network’s stock after selling 8,554 shares during the period. Vontobel Holding Ltd.’s holdings in Netflix were worth $26,792,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in NFLX. DigitalBridge Group Inc. raised its stake in Netflix by 35.5% in the second quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock worth $24,338,000 after buying an additional 9,451 shares in the last quarter. M&G Plc purchased a new stake in shares of Netflix during the 1st quarter worth $9,682,000. BSN CAPITAL PARTNERS Ltd boosted its position in Netflix by 24.4% during the first quarter. BSN CAPITAL PARTNERS Ltd now owns 250,000 shares of the Internet television network’s stock valued at $155,185,000 after purchasing an additional 49,000 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in Netflix by 58.2% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 82,931 shares of the Internet television network’s stock valued at $55,968,000 after purchasing an additional 30,511 shares during the last quarter. Finally, First Trust Direct Indexing L.P. raised its holdings in Netflix by 14.9% in the first quarter. First Trust Direct Indexing L.P. now owns 10,330 shares of the Internet television network’s stock worth $6,274,000 after purchasing an additional 1,342 shares in the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider David A. Hyman sold 20,656 shares of Netflix stock in a transaction dated 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 sale, the insider now owns 31,610 shares in the company, valued at $19,128,159.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider David A. Hyman sold 20,656 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was 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 $19,128,159.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Gregory K. Peters sold 1,278 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $614.44, for a total value of $785,254.32. Following the sale, the chief executive officer now owns 13,090 shares of the company’s stock, valued at $8,043,019.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 225,167 shares of company stock valued at $150,492,460. 1.76% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Jefferies Financial Group boosted their price objective on shares of Netflix from $655.00 to $780.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. StockNews.com raised Netflix from a “hold” rating to a “buy” rating in a research report on Tuesday, September 24th. Morgan Stanley raised their price objective on Netflix from $780.00 to $820.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Evercore ISI upped their target price on Netflix from $710.00 to $750.00 and gave the company an “outperform” rating in a research report on Tuesday, August 27th. Finally, Macquarie increased their price target on Netflix from $695.00 to $795.00 and gave the company an “outperform” rating in a research note on Friday, October 11th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Netflix presently has an average rating of “Moderate Buy” and an average target price of $704.26.

Netflix Stock Performance

NASDAQ NFLX opened at $702.00 on Thursday. The stock has a market capitalization of $302.56 billion, a price-to-earnings ratio of 48.72, a PEG ratio of 1.49 and a beta of 1.26. The stock has a 50-day moving average of $692.63 and a 200 day moving average of $653.38. 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, Inc. has a twelve month low of $344.73 and a twelve month high of $736.00.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, topping 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 business had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $9.53 billion. During the same period in the prior year, the company posted $3.29 EPS. The business’s quarterly revenue was up 16.8% on a year-over-year basis. Sell-side analysts anticipate that Netflix, Inc. will post 19.08 EPS for the current fiscal year.

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.