Netflix, Inc. (NASDAQ:NFLX) Position Cut by iA Global Asset Management Inc.

Key Points

• iA Global Asset Management Inc. reduced its holdings in Netflix by 2.1%, owning 67,367 shares valued at approximately $62.82 million as of its latest SEC filing.
• Netflix recently reported a quarterly earnings per share (EPS) of $7.19, exceeding analyst expectations of $7.07, with a year-over-year revenue increase of 15.9%.
• Institutional investors and hedge funds currently own 80.93% of Netflix's stock, reflecting significant investor interest in the company.

iA Global Asset Management Inc. lowered its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 2.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,367 shares of the Internet television network's stock after selling 1,443 shares during the period. Netflix makes up 1.1% of iA Global Asset Management Inc.'s holdings, making the stock its 21st largest position. iA Global Asset Management Inc.'s holdings in Netflix were worth $62,822,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in NFLX. Halbert Hargrove Global Advisors LLC increased its position in shares of Netflix by 100.0% during 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 during the period. Brown Shipley& Co Ltd acquired a new stake in Netflix in the 4th quarter valued at about $27,000. Transce3nd LLC acquired a new stake in Netflix in the 4th quarter valued at about $32,000. Copia Wealth Management acquired a new position in shares of Netflix in the 4th quarter worth approximately $37,000. Finally, Stuart Chaussee & Associates Inc. raised its holdings in shares of Netflix by 4,500.0% in the 4th quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network's stock worth $41,000 after purchasing an additional 45 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company's stock.

Netflix Stock Performance

Shares of NASDAQ:NFLX opened at $1,170.99 on Tuesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.34 and a quick ratio of 1.34. The business's fifty day moving average price is $1,234.03 and its two-hundred day moving average price is $1,087.86. Netflix, Inc. has a fifty-two week low of $587.04 and a fifty-two week high of $1,341.15. The stock has a market capitalization of $497.59 billion, a price-to-earnings ratio of 49.89, a price-to-earnings-growth ratio of 1.95 and a beta of 1.59.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The Internet television network reported $7.19 earnings per share (EPS) for the quarter, beating 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 company had revenue of $11.08 billion during the quarter, compared to analysts' expectations of $11.04 billion. During the same period last year, the business earned $4.88 earnings per share. The business's revenue was up 15.9% on a year-over-year basis. As a group, analysts predict that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently weighed in on NFLX. Oppenheimer raised their target price on shares of Netflix from $1,200.00 to $1,425.00 and gave the stock an "outperform" rating in a report on Thursday, June 12th. Barclays restated a "sell" rating and issued a $1,100.00 target price (up from $1,000.00) on shares of Netflix in a report on Wednesday, July 9th. Robert W. Baird upped their target price on Netflix from $1,300.00 to $1,500.00 and gave the company an "outperform" rating in a report on Monday, July 21st. Evercore ISI reissued an "outperform" rating on shares of Netflix in a research note on Thursday, May 15th. Finally, BMO Capital Markets reaffirmed an "outperform" rating and set a $1,425.00 price objective (up from $1,200.00) on shares of Netflix in a research note on Tuesday, July 15th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,297.66.

Insider Activity

In other news, Director Jay C. Hoag sold 31,750 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $1,252.35, for a total value of $39,762,112.50. Following the transaction, the director directly owned 63,040 shares of the company's stock, valued at $78,948,144. The trade was a 33.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Spencer Adam Neumann sold 2,601 shares of the firm's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $1,211.67, for a total value of $3,151,553.67. Following the sale, the chief financial officer directly owned 3,691 shares of the company's stock, valued at $4,472,273.97. This represents a 41.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 146,483 shares of company stock valued at $179,492,976 in the last ninety days. 1.37% of the stock is currently owned by corporate insiders.

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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