BloombergSen Inc. Reduces Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Key Points

• BloombergSen Inc. has reduced its stock holdings in Netflix, Inc. by 1.7%, owning 35,831 shares worth approximately $33.41 million, making Netflix its 13th largest position.
• Despite a slight decrease in Netflix's stock price, the company's latest quarterly earnings report showed an earnings per share (EPS) of $7.19, exceeding analysts’ estimates of $7.07.
• Recent insider sales indicate significant transactions, with Director Reed Hastings selling 26,977 shares for over $30.5 million, marking a 98.56% reduction in his holdings.

BloombergSen Inc. lowered its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 1.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 35,831 shares of the Internet television network's stock after selling 628 shares during the quarter. Netflix accounts for 2.1% of BloombergSen Inc.'s portfolio, making the stock its 13th largest position. BloombergSen Inc.'s holdings in Netflix were worth $33,413,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fullcircle Wealth LLC boosted its stake in shares of Netflix by 2.5% during the 1st quarter. Fullcircle Wealth LLC now owns 369 shares of the Internet television network's stock worth $344,000 after acquiring an additional 9 shares during the last quarter. Bedell Frazier Investment Counselling LLC boosted its stake in shares of Netflix by 2.2% during the 4th quarter. Bedell Frazier Investment Counselling LLC now owns 462 shares of the Internet television network's stock worth $412,000 after acquiring an additional 10 shares during the last quarter. Mission Creek Capital Partners Inc. raised its position in shares of Netflix by 0.3% during the 4th quarter. Mission Creek Capital Partners Inc. now owns 3,826 shares of the Internet television network's stock valued at $3,410,000 after purchasing an additional 10 shares during the period. Continuum Wealth Advisors LLC raised its position in shares of Netflix by 4.4% during the 1st quarter. Continuum Wealth Advisors LLC now owns 235 shares of the Internet television network's stock valued at $219,000 after purchasing an additional 10 shares during the period. Finally, Financial Enhancement Group LLC raised its position in shares of Netflix by 2.5% during the 1st quarter. Financial Enhancement Group LLC now owns 412 shares of the Internet television network's stock valued at $384,000 after purchasing an additional 10 shares during the period. Hedge funds and other institutional investors own 80.93% of the company's stock.

Netflix Stock Down 0.0%

Shares of NASDAQ NFLX traded down $0.27 during trading hours on Friday, hitting $1,180.49. 2,624,404 shares of the stock were exchanged, compared to its average volume of 3,928,007. The company has a quick ratio of 1.20, a current ratio of 1.34 and a debt-to-equity ratio of 0.58. The company has a market cap of $501.63 billion, a PE ratio of 50.30, a PEG ratio of 1.99 and a beta of 1.59. The firm has a fifty day moving average price of $1,236.44 and a 200-day moving average price of $1,071.39. Netflix, Inc. has a 12 month low of $587.04 and a 12 month high of $1,341.15.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, topping the consensus estimate of $7.07 by $0.12. The firm had revenue of $11.08 billion during the quarter, compared to analyst estimates of $11.04 billion. Netflix had a net margin of 24.58% and a return on equity of 42.50%. Netflix's revenue was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.88 EPS. On average, sell-side analysts expect that Netflix, Inc. will post 24.58 EPS for the current year.

Insider Activity

In related news, Director Reed Hastings sold 26,977 shares of the business'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 transaction of $30,566,289.85. Following the completion of the transaction, the director owned 394 shares in the company, valued at $446,421.70. The trade was a 98.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Spencer Adam Neumann sold 2,601 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $1,211.67, for a total transaction of $3,151,553.67. Following the transaction, the chief financial officer owned 3,691 shares in the company, valued at $4,472,273.97. The trade was a 41.34% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 185,923 shares of company stock worth $222,445,095. Insiders own 1.37% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on NFLX shares. Robert W. Baird raised their price objective on shares of Netflix from $1,300.00 to $1,500.00 and gave the company an "outperform" rating in a research report on Monday. Wolfe Research set a $1,340.00 price target on shares of Netflix and gave the company an "outperform" rating in a report on Friday, May 16th. BMO Capital Markets reiterated an "outperform" rating and issued a $1,425.00 price target (up from $1,200.00) on shares of Netflix in a report on Tuesday, July 15th. Wells Fargo & Company lifted their price target on shares of Netflix from $1,500.00 to $1,560.00 and gave the company an "overweight" rating in a report on Friday, July 18th. Finally, Seaport Res Ptn downgraded shares of Netflix from a "strong-buy" rating to a "hold" rating in a report on Sunday, July 6th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $1,297.66.

Netflix 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.