GQG Partners LLC Lowers Stock Position in Netflix, Inc. (NASDAQ:NFLX)

GQG Partners LLC reduced its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 27.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,387,631 shares of the Internet television network's stock after selling 517,412 shares during the quarter. Netflix comprises approximately 2.1% of GQG Partners LLC's portfolio, making the stock its 18th biggest holding. GQG Partners LLC owned approximately 0.33% of Netflix worth $1,294,007,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of NFLX. Fullcircle Wealth LLC grew its position in Netflix by 2.5% during the first quarter. Fullcircle Wealth LLC now owns 369 shares of the Internet television network's stock valued at $344,000 after acquiring an additional 9 shares during the last quarter. Mission Creek Capital Partners Inc. grew its position in Netflix by 0.3% during the fourth quarter. Mission Creek Capital Partners Inc. now owns 3,826 shares of the Internet television network's stock valued at $3,410,000 after acquiring an additional 10 shares during the last quarter. Continuum Wealth Advisors LLC grew its position in Netflix by 4.4% during the first quarter. Continuum Wealth Advisors LLC now owns 235 shares of the Internet television network's stock valued at $219,000 after acquiring an additional 10 shares during the last quarter. Financial Enhancement Group LLC grew its position in Netflix by 2.5% during the first quarter. Financial Enhancement Group LLC now owns 412 shares of the Internet television network's stock valued at $384,000 after acquiring an additional 10 shares during the last quarter. Finally, Saxony Capital Management LLC grew its position in Netflix by 1.4% during the first quarter. Saxony Capital Management LLC now owns 707 shares of the Internet television network's stock valued at $659,000 after acquiring an additional 10 shares during the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on NFLX shares. KeyCorp increased their price target on shares of Netflix from $1,070.00 to $1,390.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Sanford C. Bernstein increased 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. Phillip Securities cut shares of Netflix from a "hold" rating to a "strong sell" rating in a report on Monday, July 21st. TD Cowen raised their target price on shares of Netflix from $1,440.00 to $1,450.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Finally, Cfra Research upgraded shares of Netflix to a "strong-buy" rating in a report on Monday, April 28th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $1,297.66.

Insiders Place Their Bets

In other Netflix news, Director Jay C. Hoag sold 31,750 shares of the business's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $1,252.35, for a total transaction of $39,762,112.50. Following the completion of the sale, the director directly owned 63,040 shares in the company, valued at $78,948,144. The trade was a 33.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Gregory K. Peters sold 2,026 shares of the business's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $1,157.44, for a total value of $2,344,973.44. Following the sale, the chief executive officer owned 12,781 shares of the company's stock, valued at approximately $14,793,240.64. This represents a 13.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 146,307 shares of company stock worth $179,443,809 in the last 90 days. Corporate insiders own 1.37% of the company's stock.

Netflix Price Performance

Shares of NASDAQ:NFLX opened at $1,225.28 on Wednesday. Netflix, Inc. has a fifty-two week low of $635.50 and a fifty-two week high of $1,341.15. The business has a 50-day simple moving average of $1,232.39 and a two-hundred day simple moving average of $1,097.79. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.34 and a current ratio of 1.34. The firm has a market cap of $520.66 billion, a price-to-earnings ratio of 52.21, a price-to-earnings-growth ratio of 2.05 and a beta of 1.59.

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