Harrington Investments INC Lowers Position in Netflix, Inc. (NASDAQ:NFLX)

Harrington Investments INC lowered its holdings in Netflix, Inc. (NASDAQ:NFLX) by 4.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,503 shares of the Internet television network’s stock after selling 340 shares during the period. Netflix makes up about 2.9% of Harrington Investments INC’s portfolio, making the stock its 8th largest holding. Harrington Investments INC’s holdings in Netflix were worth $5,322,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. GQG Partners LLC bought a new stake in Netflix during the first quarter worth $1,450,476,000. Jennison Associates LLC boosted its stake in Netflix by 17.0% in the first quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock valued at $3,875,655,000 after buying an additional 929,193 shares in the last quarter. Global Assets Advisory LLC bought a new position in Netflix in the first quarter valued at about $436,514,000. Jericho Capital Asset Management L.P. acquired a new position in Netflix during the first quarter worth about $372,293,000. Finally, Swedbank AB bought a new position in shares of Netflix in the first quarter worth about $216,538,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

Insider Activity at Netflix

In other news, Chairman Reed Hastings sold 45,290 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $706.16, for a total transaction of $31,981,986.40. Following the completion of the sale, the chairman now owns 85 shares of the company’s stock, valued at approximately $60,023.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Chairman Reed Hastings sold 45,290 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $706.16, for a total value of $31,981,986.40. Following the sale, the chairman now directly owns 85 shares of the company’s stock, valued at $60,023.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Gregory K. Peters sold 1,278 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $614.44, for a total value of $785,254.32. Following the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at $8,043,019.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 225,167 shares of company stock valued at $150,492,460. Company insiders own 1.76% of the company’s stock.

Wall Street Analyst Weigh In

NFLX has been the subject of several research reports. Oppenheimer increased their price objective on shares of Netflix from $725.00 to $775.00 and gave the company an “outperform” rating in a research note on Thursday. Guggenheim boosted their target price on shares of Netflix from $735.00 to $810.00 and gave the company a “buy” rating in a research report on Friday. Evercore ISI lifted their price target on shares of Netflix from $710.00 to $750.00 and gave the company an “outperform” rating in a research note on Tuesday, August 27th. Pivotal Research boosted their target price on Netflix from $800.00 to $900.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Finally, Jefferies Financial Group boosted their target price on shares of Netflix from $655.00 to $780.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $702.79.

Netflix Stock Performance

Shares of NASDAQ NFLX traded down $6.32 during mid-day trading on Monday, hitting $716.47. The company had a trading volume of 1,277,075 shares, compared to its average volume of 3,637,807. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. Netflix, Inc. has a 1 year low of $344.73 and a 1 year high of $736.00. The company has a market capitalization of $308.80 billion, a price-to-earnings ratio of 50.05, a P/E/G ratio of 1.49 and a beta of 1.26. The stock’s 50-day moving average price is $686.60 and its 200-day moving average price is $651.60.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, beating analysts’ consensus estimates of $4.74 by $0.14. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The business had revenue of $9.56 billion during the quarter, compared to analyst estimates of $9.53 billion. During the same quarter in the previous year, the firm earned $3.29 EPS. The company’s quarterly revenue was up 16.8% compared to the same quarter last year. On average, sell-side analysts forecast that Netflix, Inc. will post 19.08 earnings per share for the current year.

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.