Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Penserra Capital Management LLC

Penserra Capital Management LLC lessened its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 98.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 36 shares of the Internet television network's stock after selling 2,701 shares during the quarter. Penserra Capital Management LLC's holdings in Netflix were worth $33,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of NFLX. GAMMA Investing LLC raised its stake in shares of Netflix by 109,524.3% in the 1st quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network's stock valued at $8,239,576,000 after purchasing an additional 8,827,662 shares in the last quarter. Norges Bank acquired a new stake in Netflix during the fourth quarter worth about $5,019,087,000. Arrowstreet Capital Limited Partnership raised its stake in Netflix by 59.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,301,098 shares of the Internet television network's stock worth $2,051,016,000 after acquiring an additional 856,307 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Netflix by 318.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 976,924 shares of the Internet television network's stock worth $870,752,000 after acquiring an additional 743,724 shares during the period. Finally, Northern Trust Corp raised its stake in Netflix by 14.3% during the fourth quarter. Northern Trust Corp now owns 4,574,006 shares of the Internet television network's stock worth $4,076,903,000 after acquiring an additional 570,674 shares during the period. Institutional investors and hedge funds own 80.93% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on NFLX. JPMorgan Chase & Co. increased their price objective on shares of Netflix from $1,220.00 to $1,230.00 and gave the stock a "neutral" rating in a research note on Friday. Jefferies Financial Group raised their price target on shares of Netflix from $1,200.00 to $1,400.00 and gave the company a "buy" rating in a research note on Tuesday, June 3rd. Phillip Securities upgraded shares of Netflix from a "moderate sell" rating to a "hold" rating in a research note on Monday, April 21st. KeyCorp raised 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 note on Thursday. Finally, Pivotal Research restated a "buy" rating on shares of Netflix in a research note on Thursday. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $1,214.52.

Insiders Place Their Bets

In related news, Director Strive Masiyiwa sold 290 shares of Netflix stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $1,336.54, for a total value of $387,596.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Spencer Adam Neumann sold 2,601 shares of Netflix stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $1,307.22, for a total transaction of $3,400,079.22. Following the completion of the transaction, the chief financial officer owned 3,691 shares in the company, valued at $4,824,949.02. This trade represents a 41.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 186,723 shares of company stock worth $223,307,201 in the last 90 days. 1.37% of the stock is owned by corporate insiders.

Netflix Trading Down 0.4%

Shares of NASDAQ:NFLX opened at $1,245.11 on Friday. The firm has a fifty day moving average of $1,221.70 and a two-hundred day moving average of $1,049.85. The firm has a market capitalization of $529.88 billion, a P/E ratio of 58.84, a price-to-earnings-growth ratio of 2.26 and a beta of 1.59. Netflix, Inc. has a 12-month low of $587.04 and a 12-month high of $1,341.15. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.58.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.74 by $0.87. Netflix had a net margin of 23.07% and a return on equity of 39.61%. The company had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.51 billion. During the same quarter last year, the business posted $8.28 EPS. On average, equities analysts expect that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

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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