iA Global Asset Management Inc. Sells 11,099 Shares of Netflix, Inc. (NASDAQ:NFLX)

iA Global Asset Management Inc. decreased its holdings in Netflix, Inc. (NASDAQ:NFLX) by 17.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,757 shares of the Internet television network’s stock after selling 11,099 shares during the period. iA Global Asset Management Inc.’s holdings in Netflix were worth $36,000,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Denver PWM LLC bought a new position in Netflix in the 2nd quarter worth about $25,000. RPg Family Wealth Advisory LLC purchased a new stake in Netflix during the 3rd quarter worth approximately $25,000. Proffitt & Goodson Inc. increased its stake in Netflix by 380.0% during the 2nd quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock valued at $32,000 after purchasing an additional 38 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. raised its holdings in shares of Netflix by 700.0% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after buying an additional 42 shares during the last quarter. Finally, AlphaMark Advisors LLC grew its holdings in shares of Netflix by 642.9% during the second quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock valued at $35,000 after buying an additional 45 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Netflix news, Chairman Reed Hastings sold 48,363 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the transaction, the chairman now directly owns 114 shares of the company’s stock, valued at approximately $102,212.40. This trade represents a 99.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jay C. Hoag sold 43,750 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $687.07, for a total transaction of $30,059,312.50. Following the completion of the sale, the director now directly owns 95,040 shares of the company’s stock, valued at $65,299,132.80. The trade was a 31.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 209,155 shares of company stock valued at $159,682,799 over the last quarter. Company insiders own 1.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on NFLX shares. Jefferies Financial Group raised their price objective on Netflix from $780.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Bank of America raised their target price on shares of Netflix from $800.00 to $1,000.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. JPMorgan Chase & Co. upped their price target on shares of Netflix from $750.00 to $850.00 and gave the company an “overweight” rating in a report on Friday, October 18th. China Renaissance started coverage on Netflix in a report on Thursday, September 5th. They set a “hold” rating and a $680.00 target price on the stock. Finally, Guggenheim raised their price objective on Netflix from $810.00 to $825.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $783.00.

Netflix Trading Up 1.8 %

NASDAQ NFLX opened at $934.74 on Friday. Netflix, Inc. has a 52 week low of $448.32 and a 52 week high of $935.27. The firm has a 50 day moving average of $788.37 and a two-hundred day moving average of $707.66. 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 capitalization of $399.56 billion, a PE ratio of 52.90, a price-to-earnings-growth ratio of 1.76 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last issued its earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.09 by $0.31. Netflix had a net margin of 20.70% and a return on equity of 35.86%. The business had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.77 billion. As a group, research analysts expect that Netflix, Inc. will post 19.78 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.