Bowen Hanes & Co. Inc. Sells 7,442 Shares of Netflix, Inc. $NFLX

Key Points

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Bowen Hanes & Co. Inc. trimmed its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 5.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 122,603 shares of the Internet television network's stock after selling 7,442 shares during the quarter. Netflix accounts for 3.2% of Bowen Hanes & Co. Inc.'s holdings, making the stock its 2nd biggest holding. Bowen Hanes & Co. Inc.'s holdings in Netflix were worth $114,331,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NFLX. Resurgent Financial Advisors LLC increased its stake in shares of Netflix by 234.4% in the 1st quarter. Resurgent Financial Advisors LLC now owns 1,010 shares of the Internet television network's stock valued at $942,000 after purchasing an additional 708 shares during the last quarter. Janus Henderson Group PLC increased its stake in shares of Netflix by 8.7% in the 4th quarter. Janus Henderson Group PLC now owns 1,377,081 shares of the Internet television network's stock valued at $1,227,468,000 after purchasing an additional 110,432 shares during the last quarter. PharVision Advisers LLC bought a new position in shares of Netflix in the 4th quarter valued at $873,000. New England Research & Management Inc. increased its stake in shares of Netflix by 148.5% in the 1st quarter. New England Research & Management Inc. now owns 2,122 shares of the Internet television network's stock valued at $1,979,000 after purchasing an additional 1,268 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Netflix by 6.1% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 54,638 shares of the Internet television network's stock valued at $50,952,000 after purchasing an additional 3,137 shares during the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on NFLX shares. Citigroup reiterated a "neutral" rating and issued a $1,250.00 price target (up previously from $1,020.00) on shares of Netflix in a research note on Thursday, May 29th. Wolfe Research set a $1,340.00 price target on Netflix and gave the company an "outperform" rating in a research note on Friday, May 16th. JPMorgan Chase & Co. boosted their price objective on Netflix from $1,230.00 to $1,300.00 and gave the stock a "neutral" rating in a research report on Friday, July 18th. Barclays restated a "sell" rating and set a $1,100.00 price objective (up previously from $1,000.00) on shares of Netflix in a research report on Wednesday, July 9th. Finally, Macquarie boosted their price objective on Netflix from $1,150.00 to $1,200.00 and gave the stock an "outperform" rating in a research report on Monday, April 21st. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $1,297.66.

Netflix Stock Performance

Shares of Netflix stock opened at $1,245.09 on Tuesday. The company has a market cap of $529.08 billion, a PE ratio of 53.05, a price-to-earnings-growth ratio of 2.09 and a beta of 1.59. Netflix, Inc. has a 52 week low of $660.80 and a 52 week high of $1,341.15. The business has a 50 day moving average price of $1,231.65 and a 200-day moving average price of $1,105.79. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.58.

Netflix (NASDAQ:NFLX - Get Free Report) last issued 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 the consensus estimate of $11.04 billion. Netflix had a return on equity of 42.50% and a net margin of 24.58%. The company's quarterly revenue was up 15.9% compared to the same quarter last year. During the same period in the prior year, the business posted $4.88 earnings per share. Equities analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insider Transactions at Netflix

In other news, CEO Gregory K. Peters sold 2,026 shares of the stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $1,157.44, for a total value of $2,344,973.44. Following the completion of the sale, the chief executive officer directly owned 12,781 shares of the company's stock, valued at $14,793,240.64. This represents a 13.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Cletus R. Willems sold 238 shares of the stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $1,153.52, for a total value of $274,537.76. The disclosure for this sale can be found here. Over the last quarter, insiders sold 146,307 shares of company stock valued at $179,443,809. Corporate insiders own 1.37% of the company's stock.

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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