Fisher Funds Management LTD Sells 4,609 Shares of Netflix, Inc. (NASDAQ:NFLX)

Fisher Funds Management LTD trimmed its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 4.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 91,314 shares of the Internet television network's stock after selling 4,609 shares during the quarter. Netflix accounts for 2.1% of Fisher Funds Management LTD's portfolio, making the stock its 14th largest position. Fisher Funds Management LTD's holdings in Netflix were worth $85,153,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Netflix by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 37,488,005 shares of the Internet television network's stock valued at $33,413,809,000 after acquiring an additional 171,712 shares during the period. FMR LLC boosted its position in Netflix by 1.8% in the fourth quarter. FMR LLC now owns 20,887,090 shares of the Internet television network's stock valued at $18,617,081,000 after buying an additional 375,234 shares in the last quarter. Geode Capital Management LLC grew its stake in Netflix by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 9,323,952 shares of the Internet television network's stock worth $8,287,823,000 after buying an additional 175,596 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Netflix by 109,524.3% during the first quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network's stock worth $8,239,576,000 after buying an additional 8,827,662 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Netflix in the fourth quarter valued at approximately $5,019,087,000. 80.93% of the stock is owned by institutional investors.

Insider Activity at Netflix

In related news, Director Reed Hastings sold 26,977 shares of the company's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $1,133.05, for a total value of $30,566,289.85. Following the transaction, the director owned 394 shares in the company, valued at approximately $446,421.70. This represents a 98.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Spencer Adam Neumann sold 2,601 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $1,132.38, for a total value of $2,945,320.38. Following the sale, the chief financial officer owned 3,691 shares of the company's stock, valued at approximately $4,179,614.58. This represents a 41.34% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 186,723 shares of company stock valued at $223,307,201. 1.37% of the stock is owned by company insiders.

Netflix Stock Performance

NASDAQ NFLX opened at $1,295.24 on Friday. The firm has a market capitalization of $551.21 billion, a P/E ratio of 61.21, a price-to-earnings-growth ratio of 2.48 and a beta of 1.59. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.58. The firm's fifty day moving average price is $1,204.00 and its two-hundred day moving average price is $1,034.00. Netflix, Inc. has a 1 year low of $587.04 and a 1 year high of $1,341.15.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.74 by $0.87. The company had revenue of $10.54 billion for the quarter, compared to analysts' expectations of $10.51 billion. Netflix had a net margin of 23.07% and a return on equity of 39.61%. During the same period in the prior year, the firm earned $8.28 EPS. As a group, research analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on NFLX shares. Wedbush reaffirmed an "outperform" rating and set a $1,200.00 price target on shares of Netflix in a report on Monday, May 5th. Morgan Stanley raised their target price on Netflix from $1,150.00 to $1,200.00 and gave the company an "overweight" rating in a research note on Monday, April 21st. Piper Sandler set a $1,150.00 price target on Netflix and gave the company an "overweight" rating in a report on Monday, April 21st. Guggenheim reiterated a "buy" rating and set a $1,150.00 price target (up previously from $1,100.00) on shares of Netflix in a research report on Friday, April 18th. Finally, Barclays raised their price objective on shares of Netflix from $900.00 to $1,000.00 and gave the company an "equal weight" rating in a research report on Monday, April 21st. Eleven equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,182.58.

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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