Assenagon Asset Management S.A. Decreases Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Assenagon Asset Management S.A. lowered its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 33.1% during the fourth quarter, HoldingsChannel reports. The firm owned 707,694 shares of the Internet television network’s stock after selling 350,737 shares during the period. Netflix accounts for approximately 1.0% of Assenagon Asset Management S.A.’s holdings, making the stock its 13th largest holding. Assenagon Asset Management S.A.’s holdings in Netflix were worth $630,782,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. State Street Corp increased its holdings in Netflix by 2.6% during the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after purchasing an additional 426,740 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Netflix by 1.4% in the third quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock worth $6,464,736,000 after buying an additional 123,029 shares during the last quarter. Jennison Associates LLC raised its holdings in Netflix by 4.7% in the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after acquiring an additional 316,594 shares in the last quarter. International Assets Investment Management LLC boosted its stake in Netflix by 116,620.0% during 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 during the last quarter. Finally, Wellington Management Group LLP boosted its stake in Netflix by 0.5% during the 3rd quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock valued at $3,473,571,000 after acquiring an additional 23,702 shares during the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Netflix news, Chairman Reed Hastings sold 48,363 shares of Netflix stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the transaction, the chairman now owns 114 shares of the company’s stock, valued at $102,212.40. The trade was a 99.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Gregory K. Peters sold 4,186 shares of the company’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $750.00, for a total value of $3,139,500.00. Following the completion of the transaction, the chief executive officer now owns 13,090 shares in the company, valued at $9,817,500. This represents a 24.23 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 156,742 shares of company stock worth $131,030,268. Company insiders own 1.76% of the company’s stock.

Netflix Trading Down 1.4 %

Netflix stock opened at $828.40 on Wednesday. The firm has a market cap of $354.11 billion, a price-to-earnings ratio of 46.88, a price-to-earnings-growth ratio of 1.77 and a beta of 1.27. Netflix, Inc. has a 1 year low of $475.26 and a 1 year high of $941.75. The firm’s 50 day moving average price is $881.04 and its two-hundred day moving average price is $755.96. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13.

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, topping analysts’ consensus estimates of $5.09 by $0.31. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The business had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.77 billion. On average, research analysts predict that Netflix, Inc. will post 19.78 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

NFLX has been the topic of a number of recent analyst reports. Benchmark upped their target price on shares of Netflix from $555.00 to $720.00 and gave the company a “sell” rating in a research note on Friday, January 3rd. Wedbush restated an “outperform” rating and set a $950.00 price objective (up previously from $800.00) on shares of Netflix in a research note on Monday, November 18th. Bank of America lifted their target price on Netflix from $800.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Loop Capital cut Netflix from a “buy” rating to a “hold” rating and raised their price objective for the stock from $800.00 to $950.00 in a research note on Monday, December 16th. Finally, Citigroup lifted their price objective on shares of Netflix from $725.00 to $920.00 and gave the stock a “neutral” rating in a report on Thursday, December 5th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $846.58.

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.