Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Baillie Gifford & Co.

Key Points

• Baillie Gifford & Co. reduced its stake in Netflix by 9.9%, owning 4,034,633 shares after selling 441,109 shares, representing about 3.3% of its portfolio.
• Netflix reported $7.19 earnings per share (EPS), slightly exceeding analysts' estimates, along with a 15.9% year-over-year revenue increase during the last quarter.
• A significant proportion of Netflix's stock, approximately 80.93%, is owned by hedge funds and institutional investors, highlighting a strong interest from institutional markets.

Baillie Gifford & Co. lessened its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 9.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,034,633 shares of the Internet television network's stock after selling 441,109 shares during the quarter. Netflix comprises approximately 3.3% of Baillie Gifford & Co.'s holdings, making the stock its 8th biggest holding. Baillie Gifford & Co. owned approximately 0.95% of Netflix worth $3,762,416,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Halbert Hargrove Global Advisors LLC raised its stake 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 acquiring an additional 13 shares during the period. Brown Shipley& Co Ltd purchased a new stake in Netflix during the 4th quarter worth $27,000. Transce3nd LLC purchased a new stake in Netflix during the 4th quarter worth $32,000. Copia Wealth Management purchased a new stake in Netflix during the 4th quarter worth $37,000. Finally, Stuart Chaussee & Associates Inc. increased its stake in Netflix by 4,500.0% during the 4th quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network's stock worth $41,000 after buying an additional 45 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 issued reports on NFLX. Citigroup reaffirmed a "neutral" rating and set a $1,250.00 price target (up previously from $1,020.00) on shares of Netflix in a research note on Thursday, May 29th. Benchmark reissued a "hold" rating on shares of Netflix in a research report on Monday, April 21st. Loop Capital reissued a "hold" rating on shares of Netflix in a research report on Tuesday, July 15th. Wedbush reaffirmed an "outperform" rating and set a $1,500.00 price objective (up previously from $1,400.00) on shares of Netflix in a research report on Monday, July 14th. Finally, Oppenheimer boosted their target price on shares of Netflix from $1,200.00 to $1,425.00 and gave the company an "outperform" rating in a research note on Thursday, June 12th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $1,297.66.

Netflix Trading Down 0.0%

NASDAQ NFLX traded down $0.27 on Friday, hitting $1,180.49. 2,624,404 shares of the stock were exchanged, compared to its average volume of 3,928,007. Netflix, Inc. has a 52-week low of $587.04 and a 52-week high of $1,341.15. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.34 and a quick ratio of 1.20. The company has a market capitalization 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. The company's 50-day moving average price is $1,236.44 and its two-hundred day moving average price is $1,071.39.

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 the consensus estimate of $7.07 by $0.12. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The firm had revenue of $11.08 billion for the quarter, compared to analysts' expectations of $11.04 billion. During the same period in the previous year, the company posted $4.88 EPS. The company's quarterly revenue was up 15.9% compared to the same quarter last year. Research analysts predict that Netflix, Inc. will post 24.58 EPS for the current year.

Insiders Place Their Bets

In other news, Director Jay C. Hoag sold 32,515 shares of Netflix stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $1,101.97, for a total transaction of $35,830,554.55. Following the transaction, the director owned 79,040 shares in the company, valued at approximately $87,099,708.80. The trade was a 29.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Reed Hastings sold 26,977 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $1,133.05, for a total transaction of $30,566,289.85. Following the completion of the transaction, the director owned 394 shares in the company, valued at approximately $446,421.70. This represents a 98.56% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 185,923 shares of company stock worth $222,445,095. 1.37% of the stock is 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.