Wellington Management Group LLP Sells 660,398 Shares of Netflix, Inc. (NASDAQ:NFLX)

Wellington Management Group LLP lessened its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 13.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,236,991 shares of the Internet television network’s stock after selling 660,398 shares during the period. Netflix accounts for 0.7% of Wellington Management Group LLP’s portfolio, making the stock its 24th largest holding. Wellington Management Group LLP owned 0.99% of Netflix worth $3,776,515,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Pathway Financial Advisers LLC raised its holdings in Netflix by 82.4% in the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock worth $27,000 after acquiring an additional 14 shares during the period. Newton One Investments LLC acquired a new position in shares of Netflix during the 4th quarter worth about $34,000. Pineridge Advisors LLC lifted its position in shares of Netflix by 4,000.0% during the 4th quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock worth $37,000 after purchasing an additional 40 shares during the last quarter. FSA Wealth Management LLC acquired a new stake in Netflix in the 3rd quarter valued at approximately $38,000. Finally, Princeton Global Asset Management LLC increased its position in Netflix by 51.6% in the 4th quarter. Princeton Global Asset Management LLC now owns 47 shares of the Internet television network’s stock worth $42,000 after buying an additional 16 shares during the period. Institutional investors own 80.93% of the company’s stock.

Wall Street Analysts Forecast Growth

NFLX has been the subject of several research reports. Morgan Stanley increased their price objective on Netflix from $1,050.00 to $1,150.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. UBS Group restated a “buy” rating on shares of Netflix in a research report on Monday, March 10th. Needham & Company LLC upped their price objective on shares of Netflix from $800.00 to $1,150.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Oppenheimer increased their target price on shares of Netflix from $1,040.00 to $1,150.00 and gave the company an “outperform” rating in a research note on Wednesday, January 22nd. Finally, Argus boosted their price target on Netflix from $840.00 to $1,040.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Ten equities research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,021.02.

Insiders Place Their Bets

In other Netflix news, CEO Gregory K. Peters sold 4,939 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $1,030.00, for a total value of $5,087,170.00. Following the completion of the sale, the chief executive officer now owns 12,950 shares of the company’s stock, valued at approximately $13,338,500. This represents a 27.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Jeffrey William Karbowski sold 480 shares of the stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $978.18, for a total transaction of $469,526.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 288,583 shares of company stock valued at $279,611,567. Company insiders own 1.76% of the company’s stock.

Netflix Price Performance

Netflix stock opened at $933.85 on Monday. The business’s 50-day simple moving average is $971.74 and its 200 day simple moving average is $869.42. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. The stock has a market cap of $399.46 billion, a price-to-earnings ratio of 47.09, a P/E/G ratio of 2.12 and a beta of 1.38. Netflix, Inc. has a 12-month low of $542.01 and a 12-month high of $1,064.50.

Netflix (NASDAQ:NFLX) last issued its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.20 by $0.07. The company had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The company’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.11 EPS. As a group, research analysts anticipate 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.