Next Century Growth Investors LLC Reduces Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Next Century Growth Investors LLC decreased its holdings in Netflix, Inc. (NASDAQ:NFLX) by 3.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. 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.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Ossiam boosted its holdings in shares of Netflix by 0.4% in the second quarter. Ossiam now owns 39,567 shares of the Internet television network’s stock worth $20,479,000 after buying an additional 173 shares during the last quarter. Natixis boosted its holdings in shares of Netflix by 302.8% in the second quarter. Natixis now owns 285,684 shares of the Internet television network’s stock worth $150,901,000 after buying an additional 214,766 shares during the last quarter. Covington Capital Management boosted its holdings in shares of Netflix by 1,176.7% in the second quarter. Covington Capital Management now owns 4,979 shares of the Internet television network’s stock worth $2,630,000 after buying an additional 4,589 shares during the last quarter. TrinityPoint Wealth LLC purchased a new position in shares of Netflix in the second quarter worth approximately $208,000. Finally, Parisi Gray Wealth Management purchased a new position in shares of Netflix in the second quarter worth approximately $125,000. 79.51% of the stock is currently owned by institutional investors.

In other Netflix news, CEO Theodore A. Sarandos sold 69,707 shares of the business’s stock in a transaction dated Monday, October 4th. The shares were sold at an average price of $625.00, for a total value of $43,566,875.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jay C. Hoag sold 939 shares of the business’s stock in a transaction dated Tuesday, August 3rd. The stock was sold at an average price of $510.16, for a total transaction of $479,040.24. The disclosure for this sale can be found here. Insiders have sold 111,927 shares of company stock valued at $68,562,364 over the last three months. Insiders own 3.40% of the company’s stock.

Shares of NFLX traded up $5.01 during trading hours on Thursday, reaching $634.77. 59,890 shares of the company traded hands, compared to its average volume of 4,071,269. The firm has a market cap of $280.95 billion, a price-to-earnings ratio of 65.26, a PEG ratio of 1.88 and a beta of 0.76. Netflix, Inc. has a 12-month low of $463.41 and a 12-month high of $646.84. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.08. The stock’s fifty day moving average price is $576.04 and its 200 day moving average price is $536.89.

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

NFLX has been the topic of a number of research reports. Citigroup raised their price objective on shares of Netflix from $570.00 to $595.00 and gave the stock a “neutral” rating in a report on Thursday, September 2nd. KeyCorp raised their target price on shares of Netflix from $645.00 to $670.00 and gave the stock an “overweight” rating in a research note on Monday. Wells Fargo & Company restated an “overweight” rating and set a $700.00 target price on shares of Netflix in a research note on Thursday, June 24th. Truist Securities raised their target price on shares of Netflix from $600.00 to $690.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, The Goldman Sachs Group set a $590.00 target price on shares of Netflix in a research note on Wednesday. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirty have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $637.32.

About Netflix

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.

Further Reading: Capital Gains

Institutional Ownership by Quarter for Netflix (NASDAQ:NFLX)

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