Pictet Asset Management Holding SA Has $528.29 Million Holdings in Netflix, Inc. (NASDAQ:NFLX)

Pictet Asset Management Holding SA lowered its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 4.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 566,509 shares of the Internet television network's stock after selling 28,102 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.13% of Netflix worth $528,289,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NFLX. 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 worth $25,000 after buying an additional 13 shares in the last quarter. Brown Shipley& Co Ltd acquired a new stake in shares of Netflix during the fourth quarter worth $27,000. Transce3nd LLC acquired a new stake in shares of Netflix during the fourth quarter worth $32,000. Copia Wealth Management purchased a new position in shares of Netflix during the fourth quarter valued at $37,000. Finally, Stuart Chaussee & Associates Inc. grew its holdings in shares of Netflix by 4,500.0% during the fourth quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network's stock valued at $41,000 after buying an additional 45 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company's stock.

Insider Buying and Selling

In related news, CFO Spencer Adam Neumann sold 2,601 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $1,307.22, for a total value of $3,400,079.22. Following the transaction, the chief financial officer directly owned 3,691 shares of the company's stock, valued at approximately $4,824,949.02. The trade was a 41.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jay C. Hoag sold 31,750 shares of the business's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $1,252.35, for a total value of $39,762,112.50. Following the sale, the director owned 63,040 shares in the company, valued at $78,948,144. The trade was a 33.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 186,723 shares of company stock worth $223,307,201 in the last three months. Insiders own 1.37% of the company's stock.

Netflix Price Performance

Shares of NASDAQ:NFLX traded down $64.93 during trading on Friday, hitting $1,209.24. 10,678,762 shares of the company were exchanged, compared to its average volume of 3,762,863. The business's 50 day moving average is $1,232.59 and its 200-day moving average is $1,061.94. The company has a market capitalization of $514.62 billion, a P/E ratio of 51.52, a price-to-earnings-growth ratio of 2.19 and a beta of 1.59. 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, Inc. has a 1-year low of $587.04 and a 1-year high of $1,341.15.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The Internet television network reported $7.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $7.07 by $0.12. Netflix had a return on equity of 43.00% and a net margin of 24.58%. The company had revenue of $11.08 billion during the quarter, compared to the consensus estimate of $11.04 billion. During the same period last year, the company earned $4.88 earnings per share. The firm's revenue was up 15.9% compared to the same quarter last year. Equities analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

NFLX has been the subject of several research analyst reports. Evercore ISI reissued an "outperform" rating on shares of Netflix in a research report on Thursday, May 15th. BMO Capital Markets reaffirmed an "outperform" rating and issued a $1,425.00 price target (up previously from $1,200.00) on shares of Netflix in a report on Tuesday, July 15th. Loop Capital reaffirmed a "hold" rating on shares of Netflix in a report on Tuesday, July 15th. Citigroup restated a "neutral" rating and set a $1,250.00 target price (up previously from $1,020.00) on shares of Netflix in a research report on Thursday, May 29th. Finally, The Goldman Sachs Group upped their price target on Netflix from $1,000.00 to $1,140.00 and gave the company a "neutral" rating in a research report on Wednesday, July 2nd. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Netflix has an average rating of "Moderate Buy" and a consensus price target of $1,291.41.

Netflix Company 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.