Banque Pictet & Cie SA Sells 1,708 Shares of Netflix, Inc. (NASDAQ:NFLX)

Banque Pictet & Cie SA lowered its stake in Netflix, Inc. (NASDAQ:NFLX) by 6.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 26,282 shares of the Internet television network’s stock after selling 1,708 shares during the quarter. Banque Pictet & Cie SA’s holdings in Netflix were worth $23,426,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. International Assets Investment Management LLC increased its stake in shares of Netflix by 116,620.0% in the third quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock worth $4,080,522,000 after buying an additional 5,748,200 shares during the period. Assenagon Asset Management S.A. grew its holdings in Netflix by 154.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,058,431 shares of the Internet television network’s stock worth $750,713,000 after acquiring an additional 642,920 shares during the last quarter. State Street Corp increased its position in shares of Netflix by 2.6% in the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock valued at $12,023,082,000 after acquiring an additional 426,740 shares during the period. Strategic Financial Concepts LLC raised its stake in shares of Netflix by 112,896.4% during the fourth quarter. Strategic Financial Concepts LLC now owns 381,928 shares of the Internet television network’s stock valued at $340,420,000 after acquiring an additional 381,590 shares during the last quarter. Finally, Jennison Associates LLC raised its stake in shares of Netflix by 4.7% during 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 during the last quarter. Institutional investors own 80.93% of the company’s stock.

Insider Activity at Netflix

In other news, CAO Jeffrey William Karbowski sold 160 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $1,000.00, for a total transaction of $160,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Strive Masiyiwa sold 2,813 shares of the business’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $1,007.87, for a total transaction of $2,835,138.31. The disclosure for this sale can be found here. Over the last quarter, insiders sold 303,809 shares of company stock valued at $290,374,484. 1.76% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms recently issued reports on NFLX. Jefferies Financial Group raised their target price on Netflix from $780.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. boosted their target price on Netflix from $1,000.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Bank of America upped their target price on Netflix from $1,000.00 to $1,175.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Wolfe Research upgraded shares of Netflix from a “peer perform” rating to an “outperform” rating and set a $1,100.00 price objective for the company in a report on Thursday, January 23rd. Finally, Sanford C. Bernstein raised shares of Netflix from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $975.00 to $1,200.00 in a research note on Friday, January 24th. Ten investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Netflix has a consensus rating of “Moderate Buy” and an average price target of $1,021.70.

Netflix Price Performance

Shares of NFLX opened at $1,043.69 on Friday. The company has a market capitalization of $446.45 billion, a P/E ratio of 52.63, a P/E/G ratio of 2.11 and a beta of 1.27. Netflix, Inc. has a fifty-two week low of $542.01 and a fifty-two week high of $1,045.99. The business’s 50-day moving average is $924.40 and its two-hundred day moving average is $799.32. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.20 by $0.07. The firm had revenue of $10.25 billion for the quarter, compared to analysts’ expectations of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The firm’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same quarter last year, the company earned $2.11 EPS. Research analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current 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.