Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Townsquare Capital LLC

Townsquare Capital LLC reduced its stake in Netflix, Inc. (NASDAQ:NFLX) by 2.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 72,188 shares of the Internet television network’s stock after selling 1,673 shares during the period. Townsquare Capital LLC’s holdings in Netflix were worth $51,201,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Jennison Associates LLC boosted its stake in shares of Netflix by 4.7% during the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after acquiring an additional 316,594 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of Netflix by 116,620.0% in the 3rd 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. boosted its position in Netflix by 2.3% during the second quarter. Baillie Gifford & Co. now owns 4,762,069 shares of the Internet television network’s stock worth $3,213,825,000 after purchasing an additional 106,756 shares during the period. Fisher Asset Management LLC grew its holdings in Netflix by 2.8% during the third quarter. Fisher Asset Management LLC now owns 4,481,939 shares of the Internet television network’s stock valued at $3,178,905,000 after purchasing an additional 123,987 shares during the last quarter. Finally, Legal & General Group Plc raised its position in shares of Netflix by 3.1% in the second quarter. Legal & General Group Plc now owns 3,449,114 shares of the Internet television network’s stock valued at $2,327,738,000 after purchasing an additional 104,332 shares during the period. 80.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on NFLX. TD Cowen lifted their target price on shares of Netflix from $820.00 to $835.00 and gave the stock a “buy” rating in a report on Friday, October 18th. The Goldman Sachs Group set a $750.00 price objective on Netflix in a research report on Friday, October 18th. China Renaissance assumed coverage on Netflix in a report on Thursday, September 5th. They issued a “hold” rating and a $680.00 target price on the stock. Bank of America increased their price objective on Netflix from $800.00 to $1,000.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Finally, Guggenheim boosted their target price on shares of Netflix from $810.00 to $825.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $764.82.

Netflix Stock Performance

NFLX opened at $872.60 on Wednesday. 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 $373.00 billion, a price-to-earnings ratio of 49.38, a PEG ratio of 1.67 and a beta of 1.25. Netflix, Inc. has a 12-month low of $445.73 and a 12-month high of $908.00. The business has a 50 day moving average of $762.10 and a 200-day moving average of $695.13.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, topping analysts’ consensus estimates of $5.09 by $0.31. The firm had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. On average, equities research analysts expect that Netflix, Inc. will post 19.78 earnings per share for the current year.

Insider Transactions at Netflix

In other Netflix news, Director Timothy M. Haley sold 11,090 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $757.96, for a total transaction of $8,405,776.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider David A. Hyman sold 267 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total value of $204,433.89. Following the completion of the sale, the insider now owns 31,610 shares of the company’s stock, valued at approximately $24,202,828.70. This trade represents a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 185,866 shares of company stock worth $133,393,921 over the last quarter. Company 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.