Netflix, Inc. (NASDAQ:NFLX) Shares Sold by GLOBALT Investments LLC GA

Key Points

• GLOBALT Investments LLC reduced its Netflix holdings by 5.2%, owning a total of 4,262 shares valued at approximately $3.97 million after selling 233 shares during the first quarter.
• Several institutional investors significantly increased their positions in Netflix, with GAMMA Investing LLC raising its stake by 109,524.3% and now owning 8.83 million shares worth over $8.2 billion.
• Netflix reported earnings of $7.19 per share for the recent quarter, exceeding expectations, with revenue growth of 15.9% year-over-year, amounting to $11.08 billion.

GLOBALT Investments LLC GA lowered its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 5.2% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,262 shares of the Internet television network's stock after selling 233 shares during the quarter. GLOBALT Investments LLC GA's holdings in Netflix were worth $3,974,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of NFLX. GAMMA Investing LLC raised its position in shares of Netflix by 109,524.3% during the 1st quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network's stock worth $8,239,576,000 after purchasing an additional 8,827,662 shares during the period. Arrowstreet Capital Limited Partnership raised its position in shares of Netflix by 59.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,301,098 shares of the Internet television network's stock worth $2,051,016,000 after purchasing an additional 856,307 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of Netflix by 318.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 976,924 shares of the Internet television network's stock worth $870,752,000 after purchasing an additional 743,724 shares during the period. Northern Trust Corp raised its position in shares of Netflix by 14.3% during the 4th quarter. Northern Trust Corp now owns 4,574,006 shares of the Internet television network's stock worth $4,076,903,000 after purchasing an additional 570,674 shares during the period. Finally, Two Sigma Advisers LP raised its position in shares of Netflix by 935.7% during the 4th quarter. Two Sigma Advisers LP now owns 461,900 shares of the Internet television network's stock worth $411,701,000 after purchasing an additional 417,300 shares during the period. Institutional investors and hedge funds own 80.93% of the company's stock.

Insider Buying and Selling

In other Netflix news, Director Bradford L. Smith sold 3,919 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $1,124.26, for a total transaction of $4,405,974.94. Following the transaction, the director directly owned 7,969 shares in the company, valued at $8,959,227.94. This trade represents a 32.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jay C. Hoag sold 32,515 shares of the firm's stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $1,101.97, for a total value of $35,830,554.55. Following the transaction, the director owned 79,040 shares in the company, valued at approximately $87,099,708.80. This trade represents a 29.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 185,923 shares of company stock valued at $222,445,095 in the last three months. 1.37% of the stock is currently owned by corporate insiders.

Netflix Price Performance

Shares of NASDAQ:NFLX opened at $1,180.49 on Friday. The company has a current ratio of 1.34, a quick ratio of 1.20 and a debt-to-equity ratio of 0.58. Netflix, Inc. has a 1 year low of $587.04 and a 1 year high of $1,341.15. The business has a fifty day simple moving average of $1,236.44 and a 200 day simple moving average of $1,071.39. The firm has a market cap of $501.63 billion, a price-to-earnings ratio of 50.30, a P/E/G ratio of 1.99 and a beta of 1.59.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on NFLX shares. Pivotal Research reiterated a "buy" rating on shares of Netflix in a research report on Thursday, July 10th. Wolfe Research set a $1,340.00 price target on Netflix and gave the stock an "outperform" rating in a research report on Friday, May 16th. TD Cowen increased their price target on Netflix from $1,440.00 to $1,450.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Phillip Securities lowered Netflix from a "hold" rating to a "strong sell" rating in a report on Monday, July 21st. Finally, Seaport Res Ptn cut Netflix from a "strong-buy" rating to a "hold" rating in a research report on Sunday, July 6th. Three investment 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,297.66.

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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