Assenagon Asset Management S.A. Reduces Position in Netflix, Inc. (NASDAQ:NFLX)

Assenagon Asset Management S.A. decreased its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 31.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 481,831 shares of the Internet television network's stock after selling 225,863 shares during the quarter. Netflix makes up approximately 0.7% of Assenagon Asset Management S.A.'s holdings, making the stock its 19th largest holding. Assenagon Asset Management S.A. owned about 0.11% of Netflix worth $449,322,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Capital & Planning LLC acquired a new stake in Netflix during the 4th quarter worth $809,000. Brighton Jones LLC increased its holdings in Netflix by 5.0% during the 4th quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network's stock worth $4,804,000 after purchasing an additional 257 shares in the last quarter. Union Bancaire Privee UBP SA bought a new position in Netflix during the 4th quarter worth about $12,212,000. Revolve Wealth Partners LLC increased its holdings in Netflix by 16.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network's stock worth $912,000 after purchasing an additional 144 shares in the last quarter. Finally, Savant Capital LLC increased its holdings in Netflix by 9.5% during the 4th quarter. Savant Capital LLC now owns 11,903 shares of the Internet television network's stock worth $10,609,000 after purchasing an additional 1,032 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company's stock.

Insider Buying and Selling at Netflix

In other news, Director Jay C. Hoag sold 31,750 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $1,252.35, for a total value of $39,762,112.50. Following the transaction, the director now directly owns 63,040 shares in the company, valued at approximately $78,948,144. This represents a 33.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Jeffrey William Karbowski sold 480 shares of the company's stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $978.18, for a total transaction of $469,526.40. The disclosure for this sale can be found here. Insiders have sold 185,140 shares of company stock worth $210,271,552 in the last ninety days. 1.37% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NFLX. Pivotal Research raised their price objective on Netflix from $1,250.00 to $1,350.00 and gave the company a "buy" rating in a report on Monday, April 21st. Macquarie raised their target price on shares of Netflix from $1,150.00 to $1,200.00 and gave the company an "outperform" rating in a research note on Monday, April 21st. Bank of America raised their price objective on shares of Netflix from $1,175.00 to $1,490.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. Cfra Research upgraded shares of Netflix to a "strong-buy" rating in a research report on Monday, April 28th. Finally, Jefferies Financial Group raised their price objective on shares of Netflix from $1,200.00 to $1,400.00 and gave the stock a "buy" rating in a research report on Tuesday, June 3rd. Eleven investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $1,156.73.

Netflix Price Performance

NFLX traded down $2.88 on Friday, hitting $1,212.15. 2,209,188 shares of the company's stock were exchanged, compared to its average volume of 3,763,914. Netflix, Inc. has a fifty-two week low of $587.04 and a fifty-two week high of $1,262.81. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. The firm has a 50-day moving average price of $1,120.37 and a 200-day moving average price of $999.25. The stock has a market cap of $515.86 billion, a price-to-earnings ratio of 61.13, a P/E/G ratio of 2.12 and a beta of 1.59.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, beating the consensus estimate of $5.74 by $0.87. The company had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.51 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. During the same period in the previous year, the business posted $8.28 EPS. As a group, equities analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current year.

Netflix Company Profile

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.