Russell Investments Group Ltd. Sells 27,095 Shares of Netflix, Inc. (NASDAQ:NFLX)

Key Points

• Russell Investments Group Ltd. reduced its stake in Netflix by 5.9%, selling 27,095 shares and retaining 432,289 shares, which now represents approximately 0.6% of its portfolio.
• Several institutional investors have recently increased their holdings in Netflix, with notable increases of 16.4% by Revolve Wealth Partners LLC and 23.8% by BIP Wealth LLC in the fourth quarter.
• Analysts have raised their price targets for Netflix, with Bank of America setting a new target of $1,490.00 and a consensus rating of "Moderate Buy."

Russell Investments Group Ltd. cut its holdings in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 5.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 432,289 shares of the Internet television network's stock after selling 27,095 shares during the period. Netflix comprises approximately 0.6% of Russell Investments Group Ltd.'s portfolio, making the stock its 19th biggest holding. Russell Investments Group Ltd. owned about 0.10% of Netflix worth $403,196,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC grew its holdings in Netflix by 5.0% during the fourth quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network's stock valued at $4,804,000 after purchasing an additional 257 shares during the period. Revolve Wealth Partners LLC grew its holdings in Netflix by 16.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network's stock valued at $912,000 after purchasing an additional 144 shares during the period. BIP Wealth LLC grew its holdings in Netflix by 23.8% during the fourth quarter. BIP Wealth LLC now owns 453 shares of the Internet television network's stock valued at $403,000 after purchasing an additional 87 shares during the period. Advisors Capital Management LLC grew its holdings in Netflix by 2.1% during the fourth quarter. Advisors Capital Management LLC now owns 8,779 shares of the Internet television network's stock valued at $7,825,000 after purchasing an additional 178 shares during the period. Finally, Granite Investment Partners LLC bought a new position in Netflix during the fourth quarter valued at $243,000. 80.93% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Bank of America raised their price target on Netflix from $1,175.00 to $1,490.00 and gave the stock a "buy" rating in a report on Friday, May 30th. KeyCorp increased their price objective on Netflix from $1,070.00 to $1,390.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Macquarie increased their price objective on Netflix from $1,150.00 to $1,200.00 and gave the stock an "outperform" rating in a research report on Monday, April 21st. Robert W. Baird increased their price objective on Netflix from $1,300.00 to $1,500.00 and gave the stock an "outperform" rating in a research report on Monday, July 21st. Finally, Phillip Securities downgraded Netflix from a "hold" rating to a "strong sell" rating in a research report on Monday, July 21st. Three 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 issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Netflix currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,297.66.

Insiders Place Their Bets

In related news, CEO Gregory K. Peters sold 2,026 shares of Netflix stock in a transaction dated 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 in the company, valued at approximately $14,793,240.64. This trade represents a 13.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Cletus R. Willems sold 238 shares of Netflix stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $1,153.52, for a total value of $274,537.76. The disclosure for this sale can be found here. Insiders have sold a total of 146,307 shares of company stock worth $179,443,809 in the last three months. 1.37% of the stock is owned by company insiders.

Netflix Trading Up 0.6%

NASDAQ:NFLX opened at $1,218.31 on Tuesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.34 and a quick ratio of 1.34. The firm has a market capitalization of $517.70 billion, a price-to-earnings ratio of 51.91, a price-to-earnings-growth ratio of 2.04 and a beta of 1.59. Netflix, Inc. has a one year low of $627.07 and a one year high of $1,341.15. The business has a fifty day moving average price of $1,232.24 and a 200-day moving average price of $1,096.90.

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 (EPS) for the quarter, topping analysts' consensus estimates of $7.07 by $0.12. Netflix had a return on equity of 42.50% and a net margin of 24.58%. The business had revenue of $11.08 billion during the quarter, compared to analyst estimates of $11.04 billion. During the same quarter in the prior year, the business posted $4.88 EPS. Netflix's revenue for the quarter was up 15.9% compared to the same quarter last year. Sell-side analysts forecast that Netflix, Inc. will post 24.58 EPS for the current 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.

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