Brevan Howard Capital Management LP Decreases Stake in Netflix, Inc. (NASDAQ:NFLX)

Brevan Howard Capital Management LP cut its holdings in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 9.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,588 shares of the Internet television network's stock after selling 1,711 shares during the period. Brevan Howard Capital Management LP's holdings in Netflix were worth $13,894,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Nordea Investment Management AB boosted its position in shares of Netflix by 22.7% during the fourth quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network's stock worth $760,918,000 after acquiring an additional 156,958 shares during the last quarter. First National Trust Co boosted its holdings in shares of Netflix by 1.0% during the 4th quarter. First National Trust Co now owns 1,258 shares of the Internet television network's stock valued at $1,121,000 after purchasing an additional 12 shares during the last quarter. Haven Private LLC bought a new stake in shares of Netflix in the fourth quarter worth about $733,000. Sigma Planning Corp increased its stake in Netflix by 7.4% in the 4th quarter. Sigma Planning Corp now owns 5,572 shares of the Internet television network's stock worth $4,966,000 after acquiring an additional 386 shares during the last quarter. Finally, Quilter Plc grew its holdings in shares of Netflix by 8.2% in the fourth quarter. Quilter Plc now owns 143,757 shares of the Internet television network's stock valued at $128,133,000 after purchasing an additional 10,946 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on NFLX shares. Arete Research upgraded shares of Netflix to a "hold" rating in a research report on Thursday, January 23rd. Wells Fargo & Company lifted their price target on Netflix from $1,210.00 to $1,222.00 and gave the stock an "overweight" rating in a research report on Monday, April 21st. BMO Capital Markets restated an "outperform" rating and set a $1,200.00 price objective (up from $1,175.00) on shares of Netflix in a research report on Friday, April 18th. Cfra Research raised Netflix to a "strong-buy" rating in a research report on Monday, April 28th. Finally, Loop Capital restated a "hold" rating on shares of Netflix in a report on Monday, March 24th. Ten research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $1,084.91.

Insiders Place Their Bets

In related news, Chairman Reed Hastings sold 25,360 shares of Netflix stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $921.15, for a total value of $23,360,364.00. Following the sale, the chairman now owns 394 shares of the company's stock, valued at approximately $362,933.10. This trade represents a 98.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jay C. Hoag sold 32,515 shares of the stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $1,101.97, for a total transaction of $35,830,554.55. Following the transaction, the director now directly owns 79,040 shares in the company, valued at approximately $87,099,708.80. The trade was a 29.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 137,451 shares of company stock worth $142,194,072. Corporate insiders own 1.76% of the company's stock.

Netflix Stock Performance

NASDAQ NFLX traded up $3.63 on Tuesday, reaching $1,137.69. 3,223,067 shares of the company's stock traded hands, compared to its average volume of 3,728,077. Netflix, Inc. has a fifty-two week low of $587.04 and a fifty-two week high of $1,159.44. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. The firm has a market cap of $484.17 billion, a price-to-earnings ratio of 57.37, a P/E/G ratio of 2.12 and a beta of 1.58. The stock has a 50 day moving average price of $974.71 and a 200-day moving average price of $925.04.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.74 by $0.87. The business had revenue of $10.54 billion during the quarter, compared to analysts' expectations of $10.51 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. During the same quarter in the previous year, the firm posted $8.28 EPS. Equities research analysts predict that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

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.