Next Century Growth Investors LLC Cuts Stake in Netflix, Inc. (NASDAQ:NFLX)

Next Century Growth Investors LLC trimmed its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 3.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,650 shares of the Internet television network’s stock after selling 64 shares during the quarter. Next Century Growth Investors LLC’s holdings in Netflix were worth $871,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in NFLX. Capital International Investors grew its position in Netflix by 6.3% during the 1st quarter. Capital International Investors now owns 16,886,545 shares of the Internet television network’s stock valued at $8,808,865,000 after purchasing an additional 998,090 shares during the last quarter. Magellan Asset Management Ltd grew its position in Netflix by 16.5% during the 2nd quarter. Magellan Asset Management Ltd now owns 6,008,063 shares of the Internet television network’s stock valued at $3,173,519,000 after purchasing an additional 850,245 shares during the last quarter. Edgewood Management LLC boosted its holdings in shares of Netflix by 27.2% during the 1st quarter. Edgewood Management LLC now owns 3,827,433 shares of the Internet television network’s stock valued at $1,996,619,000 after acquiring an additional 817,857 shares during the last quarter. Viking Global Investors LP purchased a new stake in shares of Netflix during the 1st quarter valued at about $391,275,000. Finally, Morgan Stanley boosted its holdings in shares of Netflix by 14.4% during the 1st quarter. Morgan Stanley now owns 4,024,334 shares of the Internet television network’s stock valued at $2,099,334,000 after acquiring an additional 505,072 shares during the last quarter. 79.51% of the stock is currently owned by institutional investors.

Shares of Netflix stock traded up $5.01 on Thursday, hitting $634.77. 59,890 shares of the company traded hands, compared to its average volume of 4,071,269. The business has a 50-day simple moving average of $576.04 and a 200 day simple moving average of $536.89. Netflix, Inc. has a 52 week low of $463.41 and a 52 week high of $646.84. The stock has a market capitalization of $280.95 billion, a P/E ratio of 65.26, a price-to-earnings-growth ratio of 1.88 and a beta of 0.76. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.23 and a current ratio of 1.23.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Monday, July 19th. The Internet television network reported $2.97 earnings per share for the quarter, missing the consensus estimate of $3.16 by ($0.19). Netflix had a return on equity of 36.49% and a net margin of 15.92%. The business had revenue of $7.34 billion during the quarter, compared to the consensus estimate of $7.32 billion. During the same quarter in the prior year, the firm posted $1.59 EPS. The company’s revenue for the quarter was up 19.4% on a year-over-year basis. Research analysts expect that Netflix, Inc. will post 10.38 earnings per share for the current year.

A number of brokerages have recently issued reports on NFLX. Credit Suisse Group raised their price target on shares of Netflix from $643.00 to $740.00 and gave the company an “outperform” rating in a report on Monday. Citigroup raised their price target on shares of Netflix from $570.00 to $595.00 and gave the company a “neutral” rating in a report on Thursday, September 2nd. Oppenheimer reaffirmed a “buy” rating and set a $620.00 price target on shares of Netflix in a report on Wednesday, July 21st. Wells Fargo & Company reaffirmed an “overweight” rating and set a $700.00 price target on shares of Netflix in a report on Thursday, June 24th. Finally, Truist raised their price objective on shares of Netflix from $600.00 to $690.00 and gave the stock a “buy” rating in a report on Tuesday. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirty have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $637.32.

In other news, CEO Theodore A. Sarandos sold 69,707 shares of the business’s stock in a transaction on Monday, October 4th. The shares were sold at an average price of $625.00, for a total transaction of $43,566,875.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ann Mather sold 809 shares of the business’s stock in a transaction on Tuesday, September 7th. The shares were sold at an average price of $600.00, for a total transaction of $485,400.00. The disclosure for this sale can be found here. Insiders sold 111,927 shares of company stock worth $68,562,364 in the last 90 days. 3.40% of the stock is currently owned by company insiders.

Netflix Company Profile

Netflix, Inc operates as a streaming entertainment service company. The firm provides subscription service streaming movies and television episodes over the Internet and sending DVDs by mail. It operates through the following segments: Domestic Streaming, International Streaming and Domestic DVD. The Domestic Streaming segment derives revenues from monthly membership fees for services consisting of streaming content to its members in the United States.

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Institutional Ownership by Quarter for Netflix (NASDAQ:NFLX)

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