Netflix, Inc. $NFLX Shares Sold by S Bank Fund Management Ltd

Key Points

• S Bank Fund Management Ltd reduced its holdings in Netflix by 19.4%, owning 6,752 shares after selling 1,626 shares in the second quarter, which constitutes 1.3% of its investment portfolio.
• Institutional investors own approximately 80.93% of Netflix's stock, with several hedge funds like Stephens Consulting LLC and Flaharty Asset Management LLC increasing their positions in the recent quarter.
• Netflix reported $7.19 earnings per share for the last quarter, exceeding analysts' expectations, while its quarterly revenue increased by 15.9% compared to the same period last year.

S Bank Fund Management Ltd trimmed its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 19.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,752 shares of the Internet television network's stock after selling 1,626 shares during the period. Netflix accounts for approximately 1.3% of S Bank Fund Management Ltd's investment portfolio, making the stock its 13th biggest holding. S Bank Fund Management Ltd's holdings in Netflix were worth $9,042,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in NFLX. Stephens Consulting LLC increased its position in shares of Netflix by 150.0% in the 2nd quarter. Stephens Consulting LLC now owns 25 shares of the Internet television network's stock valued at $33,000 after acquiring an additional 15 shares during the period. Flaharty Asset Management LLC acquired a new position in shares of Netflix in the 1st quarter valued at $37,000. Maseco LLP acquired a new position in shares of Netflix in the 2nd quarter valued at $39,000. Barnes Dennig Private Wealth Management LLC acquired a new position in shares of Netflix in the 1st quarter valued at $42,000. Finally, 1248 Management LLC acquired a new position in shares of Netflix in the 1st quarter valued at $43,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Trading Down 1.0%

Shares of Netflix stock opened at $1,203.29 on Thursday. The firm has a market capitalization of $511.31 billion, a PE ratio of 51.27, a P/E/G ratio of 2.04 and a beta of 1.59. Netflix, Inc. has a twelve month low of $677.88 and a twelve month high of $1,341.15. The firm's 50-day moving average price is $1,213.65 and its 200 day moving average price is $1,172.31. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.58.

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, beating analysts' consensus estimates of $7.07 by $0.12. The firm had revenue of $11.08 billion for the quarter, compared to analyst estimates of $11.04 billion. Netflix had a net margin of 24.58% and a return on equity of 42.50%. Netflix's quarterly revenue was up 15.9% compared to the same quarter last year. During the same period last year, the company posted $4.88 EPS. On average, sell-side analysts predict that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Insider Transactions at Netflix

In related news, Director Reed Hastings sold 42,176 shares of the firm's stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $1,171.92, for a total value of $49,426,897.92. Following the transaction, the director directly owned 394 shares of the company's stock, valued at approximately $461,736.48. This trade represents a 99.07% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider David A. Hyman sold 424 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $1,158.67, for a total transaction of $491,276.08. Following the completion of the transaction, the insider directly owned 31,610 shares in the company, valued at $36,625,558.70. This trade represents a 1.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 104,100 shares of company stock worth $122,710,980 in the last three months. 1.37% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. BMO Capital Markets reaffirmed an "outperform" rating and set a $1,425.00 price target (up from $1,200.00) on shares of Netflix in a research report on Tuesday, July 15th. Needham & Company LLC reaffirmed a "buy" rating and set a $1,500.00 price target on shares of Netflix in a research report on Wednesday, September 10th. Itau BBA Securities assumed coverage on Netflix in a research report on Tuesday, October 7th. They set an "outperform" rating and a $1,514.00 price target on the stock. Seaport Res Ptn raised Netflix from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 6th. Finally, UBS Group set a $1,425.00 price target on Netflix in a research report on Tuesday, October 7th. Two research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,337.63.

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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