Pacer Advisors Inc. Has $45.01 Million Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Key Points

• Pacer Advisors Inc. reduced its stake in Netflix by 14%, owning 48,267 shares worth approximately $45 million after selling over 7,800 shares in the first quarter.
• As of recent reports, institutional investors own about 80.93% of Netflix's stock, with significant increases in holdings from firms like FMR LLC and GAMMA Investing LLC.
• Netflix's latest earnings report showed an EPS of $7.19, exceeding estimates, with quarterly revenue rising to $11.08 billion, marking a 15.9% increase year-over-year.

Pacer Advisors Inc. decreased its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 14.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 48,267 shares of the Internet television network's stock after selling 7,858 shares during the period. Pacer Advisors Inc.'s holdings in Netflix were worth $45,010,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the business. Halbert Hargrove Global Advisors LLC raised its holdings in shares of Netflix by 100.0% during the first quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock valued at $25,000 after buying an additional 13 shares during the last quarter. Brown Shipley& Co Ltd bought a new stake in shares of Netflix during the fourth quarter valued at approximately $27,000. Transce3nd LLC bought a new stake in shares of Netflix during the fourth quarter valued at approximately $32,000. Copia Wealth Management bought a new stake in shares of Netflix during the fourth quarter valued at approximately $37,000. Finally, Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Netflix during the first quarter valued at approximately $42,000. Institutional investors own 80.93% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on NFLX. Moffett Nathanson reiterated a "buy" rating and set a $1,150.00 price objective (up previously from $1,100.00) on shares of Netflix in a research note on Friday, April 18th. Cfra Research raised shares of Netflix to a "strong-buy" rating in a research note on Monday, April 28th. Morgan Stanley reaffirmed an "equal weight" rating on shares of Netflix in a research note on Monday, July 21st. TD Cowen lifted their price objective on shares of Netflix from $1,440.00 to $1,450.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Finally, The Goldman Sachs Group lifted their target price on shares of Netflix from $1,000.00 to $1,140.00 and gave the stock a "neutral" rating in a report on Wednesday, July 2nd. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $1,297.66.

Insider Activity at Netflix

In other news, Director Reed Hastings sold 9,673 shares of the firm's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $1,329.11, for a total transaction of $12,856,481.03. Following the completion of the sale, the director owned 394 shares in the company, valued at approximately $523,669.34. This trade represents a 96.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Spencer Adam Neumann sold 2,601 shares of Netflix stock in a transaction dated 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 sale, the chief financial officer owned 3,691 shares of the company's stock, 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 a total of 185,923 shares of company stock worth $222,445,095 in the last quarter. 1.37% of the stock is owned by corporate insiders.

Netflix Stock Down 0.0%

Shares of NFLX stock traded down $0.27 during trading hours on Friday, hitting $1,180.49. 2,624,404 shares of the company were exchanged, compared to its average volume of 3,928,007. The business has a 50 day moving average of $1,236.44 and a two-hundred day moving average of $1,072.76. 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 52 week low of $587.04 and a 52 week high of $1,341.15. The company has a market capitalization of $501.63 billion, a PE ratio of 50.30, a PEG 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 EPS for the quarter, beating analysts' consensus estimates of $7.07 by $0.12. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The company had revenue of $11.08 billion during the quarter, compared to the consensus estimate of $11.04 billion. During the same quarter last year, the firm posted $4.88 EPS. The company's quarterly revenue was up 15.9% on a year-over-year basis. Analysts anticipate that Netflix, Inc. will post 24.58 earnings per share 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.