Clarendon Private LLC lessened its holdings in shares of Netflix, Inc. (NASDAQ:NFLX – Free Report) by 13.3% in the first quarter, HoldingsChannel.com reports. The firm owned 646 shares of the Internet television network’s stock after selling 99 shares during the period. Clarendon Private LLC’s holdings in Netflix were worth $602,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. FMR LLC grew its stake in shares of Netflix by 1.8% in the 4th quarter. FMR LLC now owns 20,887,090 shares of the Internet television network’s stock worth $18,617,081,000 after acquiring an additional 375,234 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Netflix by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 9,323,952 shares of the Internet television network’s stock worth $8,287,823,000 after acquiring an additional 175,596 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Netflix by 109,524.3% in the 1st quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network’s stock worth $8,239,576,000 after acquiring an additional 8,827,662 shares in the last quarter. Alliancebernstein L.P. grew its stake in shares of Netflix by 1.6% in the 4th quarter. Alliancebernstein L.P. now owns 5,141,328 shares of the Internet television network’s stock worth $4,582,568,000 after acquiring an additional 82,564 shares in the last quarter. Finally, Northern Trust Corp grew its stake in shares of Netflix by 14.3% in the 4th quarter. Northern Trust Corp now owns 4,574,006 shares of the Internet television network’s stock worth $4,076,903,000 after acquiring an additional 570,674 shares in the last quarter. Institutional investors own 80.93% of the company’s stock.
Netflix Trading Down 0.5%
Shares of Netflix stock opened at $1,174.60 on Tuesday. Netflix, Inc. has a 12-month low of $587.04 and a 12-month high of $1,341.15. The company has a market cap of $499.12 billion, a price-to-earnings ratio of 50.05, a PEG ratio of 1.99 and a beta of 1.59. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.58. The company’s 50-day moving average price is $1,236.10 and its 200-day moving average price is $1,076.50.
Analyst Upgrades and Downgrades
Several analysts have recently issued reports on NFLX shares. Piper Sandler upped their target price on shares of Netflix from $1,400.00 to $1,500.00 and gave the stock an “overweight” rating in a research note on Friday, July 18th. Morgan Stanley reissued an “equal weight” rating on shares of Netflix in a report on Monday, July 21st. Pivotal Research reissued a “buy” rating on shares of Netflix in a report on Thursday, July 10th. Seaport Res Ptn downgraded shares of Netflix from a “strong-buy” rating to a “hold” rating in a report on Sunday, July 6th. Finally, Guggenheim reissued a “buy” rating and issued a $1,150.00 price target (up from $1,100.00) on shares of Netflix in a report on Friday, April 18th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,297.66.
View Our Latest Report on NFLX
Insider Activity at Netflix
In related news, Director Reed Hastings sold 26,977 shares of the company’s stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $1,133.05, for a total value of $30,566,289.85. Following the transaction, the director directly owned 394 shares in the company, valued at approximately $446,421.70. This represents a 98.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bradford L. Smith sold 3,919 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $1,124.26, for a total transaction of $4,405,974.94. Following the completion of the transaction, the director owned 7,969 shares in the company, valued at approximately $8,959,227.94. This trade represents a 32.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 153,408 shares of company stock valued at $186,614,540 in the last ninety days. 1.37% of the stock is currently owned by company insiders.
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.
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