Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Gulf International Bank UK Ltd

Key Points

• Gulf International Bank UK Ltd has reduced its holdings in Netflix, Inc. by 26.9%, now owning 24,594 shares valued at approximately $22.93 million, making Netflix the fund's 19th largest position.
• Analysts have issued varying ratings on Netflix, with a consensus target price of $1,297.66, reflecting mixed sentiments including three sell ratings and twenty-two buy ratings.
• Netflix's recent quarterly earnings report showed earnings per share of $7.19, surpassing analysts' expectations, with revenue increasing by 15.9% year-over-year to $11.08 billion.

Gulf International Bank UK Ltd decreased its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 26.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,594 shares of the Internet television network's stock after selling 9,066 shares during the quarter. Netflix makes up 0.8% of Gulf International Bank UK Ltd's portfolio, making the stock its 19th largest position. Gulf International Bank UK Ltd's holdings in Netflix were worth $22,934,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NFLX. Halbert Hargrove Global Advisors LLC raised its holdings in shares of Netflix by 100.0% in the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock valued at $25,000 after purchasing an additional 13 shares in the last quarter. Brown Shipley& Co Ltd bought a new stake in shares of Netflix in the 4th quarter valued at about $27,000. Transce3nd LLC bought a new stake in shares of Netflix in the 4th quarter valued at about $32,000. Copia Wealth Management bought a new stake in shares of Netflix in the 4th quarter valued at about $37,000. Finally, Barnes Dennig Private Wealth Management LLC bought a new position in shares of Netflix during the 1st quarter worth approximately $42,000. Institutional investors own 80.93% of the company's stock.

Netflix Stock Performance

NASDAQ NFLX traded up $26.12 during mid-day trading on Thursday, reaching $1,230.56. 3,901,060 shares of the stock were exchanged, compared to its average volume of 4,191,314. The business's 50 day moving average is $1,231.68 and its 200-day moving average is $1,098.52. Netflix, Inc. has a 1 year low of $659.80 and a 1 year high of $1,341.15. The company has a market capitalization of $522.90 billion, a P/E ratio of 52.43, a P/E/G ratio of 2.06 and a beta of 1.59. 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 posted its quarterly earnings data 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. The company had revenue of $11.08 billion during the quarter, compared to analysts' expectations of $11.04 billion. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The firm's revenue for the quarter was up 15.9% on a year-over-year basis. During the same period in the prior year, the business posted $4.88 earnings per share. On average, equities research analysts forecast that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Analysts Set New Price Targets

NFLX has been the subject of several recent analyst reports. Wedbush reiterated an "outperform" rating and set a $1,500.00 price objective (up previously from $1,400.00) on shares of Netflix in a research note on Monday, July 14th. TD Cowen boosted their price objective on shares of Netflix from $1,440.00 to $1,450.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. UBS Group reiterated a "market underperform" rating on shares of Netflix in a research note on Saturday, July 19th. Rosenblatt Securities boosted their price objective on shares of Netflix from $1,514.00 to $1,515.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $1,500.00 price objective on shares of Netflix in a research note on Friday, July 18th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $1,297.66.

Insider Activity at Netflix

In other Netflix news, CEO Gregory K. Peters sold 2,026 shares of the company's stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $1,157.44, for a total transaction of $2,344,973.44. Following the completion of the transaction, the chief executive officer directly owned 12,781 shares in the company, valued at approximately $14,793,240.64. This represents a 13.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Reed Hastings sold 26,933 shares of the company's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $1,211.66, for a total transaction of $32,633,638.78. Following the transaction, the director owned 394 shares of the company's stock, valued at $477,394.04. This represents a 98.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 146,307 shares of company stock valued at $179,443,809. Insiders own 1.37% of the company's stock.

Netflix Company 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.