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

Key Points

• Polen Capital Management LLC reduced its Netflix holdings by 48.6%, owning 888,072 shares valued at $828.15 million, making it the firm's 18th largest position.
• Prominent hedge funds such as GAMMA Investing LLC and Goldman Sachs Group Inc. significantly increased their Netflix stakes, with GAMMA's holdings up by 109,524.3%.
• Netflix's stock has received upgrades from various analysts, with price targets reaching up to $1,560 and a consensus average rating of "Moderate Buy".

Polen Capital Management LLC lowered its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 48.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 888,072 shares of the Internet television network's stock after selling 839,790 shares during the quarter. Netflix makes up approximately 2.6% of Polen Capital Management LLC's holdings, making the stock its 18th biggest holding. Polen Capital Management LLC owned approximately 0.21% of Netflix worth $828,154,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its holdings in Netflix by 5.0% during the 4th quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network's stock worth $4,804,000 after buying an additional 257 shares during the period. Revolve Wealth Partners LLC boosted its stake in shares of Netflix by 16.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network's stock worth $912,000 after buying an additional 144 shares during the last quarter. BIP Wealth LLC grew its holdings in shares of Netflix by 23.8% in the 4th quarter. BIP Wealth LLC now owns 453 shares of the Internet television network's stock valued at $403,000 after acquiring an additional 87 shares in the last quarter. Petros Family Wealth LLC bought a new stake in Netflix during the fourth quarter worth about $660,000. Finally, Rockefeller Capital Management L.P. boosted its position in Netflix by 3.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 114,954 shares of the Internet television network's stock valued at $102,080,000 after purchasing an additional 3,565 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Netflix

In other Netflix news, Director Jay C. Hoag sold 31,750 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $1,252.35, for a total value of $39,762,112.50. Following the completion of the sale, the director owned 63,040 shares in the company, valued at approximately $78,948,144. This represents a 33.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gregory K. Peters sold 2,026 shares of the stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $1,157.44, for a total value of $2,344,973.44. Following the completion of the transaction, the chief executive officer owned 12,781 shares of the company's stock, valued at $14,793,240.64. The trade was a 13.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 146,307 shares of company stock valued at $179,443,809. 1.37% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on NFLX shares. BMO Capital Markets reissued an "outperform" rating and issued a $1,425.00 target price (up from $1,200.00) on shares of Netflix in a research note on Tuesday, July 15th. Macquarie upped their price objective on shares of Netflix from $1,150.00 to $1,200.00 and gave the company an "outperform" rating in a report on Monday, April 21st. Rosenblatt Securities raised their target price on shares of Netflix from $1,514.00 to $1,515.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Canaccord Genuity Group restated a "buy" rating on shares of Netflix in a report on Thursday, July 10th. Finally, Cfra Research raised shares of Netflix to a "strong-buy" rating in a research report on Monday, April 28th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $1,297.66.

Netflix Trading Up 0.6%

NFLX stock traded up $6.67 during trading on Monday, hitting $1,218.31. The company had a trading volume of 2,452,502 shares, compared to its average volume of 4,215,309. Netflix, Inc. has a 52-week low of $627.07 and a 52-week high of $1,341.15. The company has a 50 day simple moving average of $1,232.25 and a 200-day simple moving average of $1,095.21. The firm has a market capitalization of $517.69 billion, a P/E ratio of 51.91, a PEG ratio of 2.04 and a beta of 1.59. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.58.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.07 by $0.12. Netflix had a return on equity of 42.50% and a net margin of 24.58%. The company had revenue of $11.08 billion for the quarter, compared to analyst estimates of $11.04 billion. During the same quarter in the previous year, the firm earned $4.88 earnings per share. The firm's quarterly revenue was up 15.9% compared to the same quarter last year. As a group, research analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

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.