Barings LLC Has $247,000 Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Key Points

• Barings LLC has reduced its stake in Netflix, Inc. by 45.4% during the 1st quarter, now holding 265 shares worth approximately $247,000.
• Several large investors, including Mirabaud & Cie SA and UNIVEST FINANCIAL Corp, significantly increased their positions in Netflix in the same quarter.
• Netflix reported a 15.9% increase in quarterly revenue year-over-year, with earnings per share of $7.19, surpassing estimates by $0.12.

Barings LLC reduced its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 45.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 265 shares of the Internet television network's stock after selling 220 shares during the quarter. Barings LLC's holdings in Netflix were worth $247,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Mirabaud & Cie SA lifted its stake in Netflix by 274.3% in the 1st quarter. Mirabaud & Cie SA now owns 3,466 shares of the Internet television network's stock valued at $3,230,000 after purchasing an additional 2,540 shares during the last quarter. Endeavor Private Wealth Inc. acquired a new position in shares of Netflix during the first quarter worth $345,000. Fiduciary Wealth Partners LLC bought a new position in shares of Netflix in the 1st quarter valued at $158,000. UNIVEST FINANCIAL Corp lifted its stake in shares of Netflix by 548.3% in the 1st quarter. UNIVEST FINANCIAL Corp now owns 2,483 shares of the Internet television network's stock valued at $2,315,000 after acquiring an additional 2,100 shares during the last quarter. Finally, Baker Avenue Asset Management LP boosted its holdings in shares of Netflix by 94.9% during the 1st quarter. Baker Avenue Asset Management LP now owns 20,879 shares of the Internet television network's stock valued at $19,470,000 after acquiring an additional 10,166 shares in the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Reed Hastings sold 26,933 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $1,211.66, for a total value of $32,633,638.78. Following the completion of the sale, the director owned 394 shares in the company, valued at $477,394.04. This represents a 98.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Bradford L. Smith sold 3,919 shares of the firm's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $1,124.26, for a total transaction of $4,405,974.94. Following the transaction, the director directly owned 7,969 shares in the company, valued at $8,959,227.94. The trade was a 32.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 123,830 shares of company stock worth $153,102,930. Company insiders own 1.37% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on NFLX shares. Morgan Stanley reaffirmed an "equal weight" rating on shares of Netflix in a report on Monday, July 21st. Phillip Securities cut Netflix from a "hold" rating to a "strong sell" rating in a report on Monday, July 21st. Citigroup reiterated a "neutral" rating and issued a $1,250.00 price objective (up previously from $1,020.00) on shares of Netflix in a report on Thursday, May 29th. Jefferies Financial Group set a $1,500.00 target price on shares of Netflix and gave the stock a "buy" rating in a research report on Friday, July 18th. Finally, Sanford C. Bernstein upped their price target on shares of Netflix from $1,200.00 to $1,390.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $1,297.66.

Netflix Stock Performance

Shares of NFLX opened at $1,158.60 on Friday. The firm has a market capitalization of $492.32 billion, a P/E ratio of 49.37, a P/E/G ratio of 1.95 and a beta of 1.59. Netflix, Inc. has a 52 week low of $587.04 and a 52 week high of $1,341.15. The stock has a 50 day moving average price of $1,234.32 and a two-hundred day moving average price of $1,083.98. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.34 and a current ratio of 1.34.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.07 by $0.12. The company had revenue of $11.08 billion for the quarter, compared to analysts' expectations of $11.04 billion. Netflix had a return on equity of 42.50% and a net margin of 24.58%. Netflix's quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.88 earnings per share. Equities analysts forecast that Netflix, Inc. will post 24.58 earnings per share 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.

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