Harvest Fund Management Co. Ltd Trims Stake in Netflix, Inc. (NASDAQ:NFLX)

Key Points

• Harvest Fund Management Co. Ltd has reduced its stake in Netflix by 1.3%, owning 41,459 shares, which is valued at approximately $38.7 million, making it the firm's 11th largest holding.
• Analysts have upgraded their price targets for Netflix, with Goldman Sachs raising it to $1,140 and Robert W. Baird increasing theirs to $1,500, while the stock holds a consensus rating of "Moderate Buy".
• Insider trading activity included Strive Masiyiwa selling 290 shares and Ann Mather selling 1,090 shares, reflecting a significant level of insider selling totaling approximately $186.6 million in the past ninety days.

Harvest Fund Management Co. Ltd decreased its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 1.3% during the first quarter, according to its most recent filing with the SEC. The firm owned 41,459 shares of the Internet television network's stock after selling 547 shares during the period. Netflix comprises about 1.9% of Harvest Fund Management Co. Ltd's holdings, making the stock its 11th largest holding. Harvest Fund Management Co. Ltd's holdings in Netflix were worth $38,652,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NFLX. Halbert Hargrove Global Advisors LLC raised its holdings in Netflix by 100.0% in the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock worth $25,000 after acquiring an additional 13 shares during the last quarter. Brown Shipley& Co Ltd bought a new stake in shares of Netflix in the 4th quarter worth $27,000. Transce3nd LLC purchased a new position in shares of Netflix in the fourth quarter worth $32,000. Copia Wealth Management bought a new position in shares of Netflix during the fourth quarter valued at $37,000. Finally, Stuart Chaussee & Associates Inc. lifted its holdings in shares of Netflix by 4,500.0% during the fourth quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network's stock valued at $41,000 after purchasing an additional 45 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company's stock.

Analyst Ratings Changes

NFLX has been the subject of a number of recent analyst reports. The Goldman Sachs Group boosted their target price on Netflix from $1,000.00 to $1,140.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 2nd. Robert W. Baird increased 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, July 21st. BMO Capital Markets restated an "outperform" rating and set a $1,425.00 price target (up from $1,200.00) on shares of Netflix in a research note on Tuesday, July 15th. KeyCorp increased their price objective on shares of Netflix from $1,070.00 to $1,390.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Finally, Moffett Nathanson restated a "buy" rating and set a $1,150.00 target price (up from $1,100.00) on shares of Netflix in a research report on Friday, April 18th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Netflix presently has a consensus rating of "Moderate Buy" and an average price target of $1,297.66.

Netflix Stock Performance

Shares of NFLX stock opened at $1,174.60 on Tuesday. Netflix, Inc. has a 12-month low of $587.04 and a 12-month high of $1,341.15. The business's fifty day simple moving average is $1,236.10 and its 200-day simple moving average is $1,076.50. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.58. The company has a market cap of $499.12 billion, a PE ratio of 50.05, a PEG ratio of 1.99 and a beta of 1.59.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $11.04 billion. During the same quarter last year, the company earned $4.88 earnings per share. The company's quarterly revenue was up 15.9% on a year-over-year basis. Analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insider Buying and Selling at Netflix

In other Netflix news, Director Strive Masiyiwa sold 290 shares of the business's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $1,336.54, for a total transaction of $387,596.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Ann Mather sold 1,090 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $1,250.00, for a total value of $1,362,500.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 153,408 shares of company stock valued at $186,614,540. Company insiders own 1.37% of the company's stock.

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.

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