Parker Investment Management LLC Sells 1,239 Shares of Netflix, Inc. (NFLX)

Parker Investment Management LLC decreased its holdings in Netflix, Inc. (NASDAQ:NFLX) by 55.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 986 shares of the Internet television network’s stock after selling 1,239 shares during the quarter. Netflix accounts for about 0.1% of Parker Investment Management LLC’s holdings, making the stock its 19th biggest holding. Parker Investment Management LLC’s holdings in Netflix were worth $369,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the stock. CenturyLink Investment Management Co purchased a new position in Netflix in the second quarter worth $641,000. DnB Asset Management AS grew its holdings in Netflix by 6.4% in the second quarter. DnB Asset Management AS now owns 53,031 shares of the Internet television network’s stock worth $20,758,000 after purchasing an additional 3,205 shares during the last quarter. Clinton Group Inc. grew its holdings in Netflix by 115.6% in the second quarter. Clinton Group Inc. now owns 4,329 shares of the Internet television network’s stock worth $1,694,000 after purchasing an additional 2,321 shares during the last quarter. IFM Investors Pty Ltd grew its holdings in Netflix by 46.0% in the second quarter. IFM Investors Pty Ltd now owns 19,637 shares of the Internet television network’s stock worth $7,687,000 after purchasing an additional 6,187 shares during the last quarter. Finally, Empirical Finance LLC purchased a new position in Netflix in the second quarter worth $283,000. 74.05% of the stock is owned by institutional investors.

In other Netflix news, Director Richard N. Barton sold 387 shares of the company’s stock in a transaction on Wednesday, October 31st. The shares were sold at an average price of $297.88, for a total value of $115,279.56. Following the sale, the director now directly owns 7,430 shares of the company’s stock, valued at $2,213,248.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Timothy M. Haley sold 21,882 shares of the company’s stock in a transaction on Tuesday, October 16th. The shares were sold at an average price of $336.41, for a total transaction of $7,361,323.62. Following the completion of the sale, the director now directly owns 9,177 shares in the company, valued at $3,087,234.57. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 336,542 shares of company stock worth $114,178,608. 4.29% of the stock is owned by corporate insiders.

NASDAQ:NFLX opened at $309.10 on Friday. Netflix, Inc. has a one year low of $178.38 and a one year high of $423.21. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.39 and a current ratio of 1.39. The firm has a market capitalization of $134.79 billion, a price-to-earnings ratio of 247.28, a price-to-earnings-growth ratio of 3.92 and a beta of 1.18.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Tuesday, October 16th. The Internet television network reported $0.89 EPS for the quarter, beating the consensus estimate of $0.68 by $0.21. Netflix had a net margin of 8.48% and a return on equity of 29.52%. The company had revenue of $4 billion for the quarter, compared to analyst estimates of $3.99 billion. During the same period in the prior year, the company earned $0.29 earnings per share. The firm’s revenue was up 34.0% on a year-over-year basis. Sell-side analysts anticipate that Netflix, Inc. will post 2.63 earnings per share for the current year.

Several equities analysts have issued reports on the stock. Cowen cut their price target on shares of Netflix from $430.00 to $400.00 and set an “outperform” rating on the stock in a report on Tuesday, July 17th. Goldman Sachs Group set a $470.00 price target on shares of Netflix and gave the stock a “buy” rating in a report on Tuesday, October 2nd. Sanford C. Bernstein reaffirmed a “buy” rating and issued a $465.00 price target on shares of Netflix in a report on Wednesday, October 17th. Morgan Stanley set a $480.00 price target on shares of Netflix and gave the stock a “buy” rating in a report on Thursday, July 12th. Finally, ValuEngine lowered shares of Netflix from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 18th. Six equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and thirty have assigned a buy rating to the stock. Netflix currently has a consensus rating of “Buy” and a consensus price target of $377.41.

Netflix Profile

Netflix, Inc, an Internet television network, engages in the Internet delivery of television (TV) shows and movies on various Internet-connected screens. It operates in three segments: Domestic Streaming, International Streaming, and Domestic DVD. The company offers TV shows and movies, including original series, documentaries, and feature films.

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Institutional Ownership by Quarter for Netflix (NASDAQ:NFLX)

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