Smithbridge Asset Management Inc. DE Decreases Stock Holdings in Netflix, Inc. $NFLX

Key Points

• Smithbridge Asset Management Inc. DE has reduced its stake in Netflix by 5.5%, now holding 9,530 shares valued at approximately $12.76 million.
• Other institutional investors, such as Nordea Investment Management AB and Empirical Asset Management LLC, have increased their positions in Netflix during the same quarter.
• Netflix reported a $7.19 EPS for the last quarter, surpassing estimates, with a year-over-year revenue increase of 15.9%.

Smithbridge Asset Management Inc. DE lessened its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 5.5% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 9,530 shares of the Internet television network's stock after selling 554 shares during the period. Netflix comprises approximately 2.2% of Smithbridge Asset Management Inc. DE's portfolio, making the stock its 11th largest position. Smithbridge Asset Management Inc. DE's holdings in Netflix were worth $12,762,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nordea Investment Management AB lifted its position in Netflix by 7.8% in the second quarter. Nordea Investment Management AB now owns 945,067 shares of the Internet television network's stock valued at $1,256,131,000 after acquiring an additional 68,461 shares during the last quarter. Empirical Asset Management LLC increased its stake in shares of Netflix by 7.4% during the second quarter. Empirical Asset Management LLC now owns 1,368 shares of the Internet television network's stock worth $1,832,000 after acquiring an additional 94 shares during the period. Consilio Wealth Advisors LLC grew its position in Netflix by 3.6% during the second quarter. Consilio Wealth Advisors LLC now owns 541 shares of the Internet television network's stock worth $716,000 after buying an additional 19 shares during the period. Werba Rubin Papier Wealth Management grew its position in shares of Netflix by 6.7% in the second quarter. Werba Rubin Papier Wealth Management now owns 735 shares of the Internet television network's stock valued at $984,000 after purchasing an additional 46 shares during the last quarter. Finally, Horst & Graben Wealth Management LLC acquired a new stake in shares of Netflix in the second quarter valued at approximately $286,000. Institutional investors and hedge funds own 80.93% of the company's stock.

Netflix Trading Down 1.6%

NFLX opened at $1,183.59 on Friday. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $502.94 billion, a PE ratio of 50.43, a PEG ratio of 2.02 and a beta of 1.59. Netflix, Inc. has a 1-year low of $677.88 and a 1-year high of $1,341.15. The firm has a 50-day moving average price of $1,213.72 and a two-hundred day moving average price of $1,174.05.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, topping the consensus estimate 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 analysts' expectations of $11.04 billion. During the same quarter in the previous year, the company earned $4.88 EPS. Netflix's revenue was up 15.9% on a year-over-year basis. As a group, equities analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Netflix news, CFO Spencer Adam Neumann sold 2,600 shares of the company's stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $1,172.51, for a total transaction of $3,048,526.00. Following the sale, the chief financial officer directly owned 3,691 shares of the company's stock, valued at approximately $4,327,734.41. This represents a 41.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Cletus R. Willems sold 238 shares of the company's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $1,153.52, for a total transaction of $274,537.76. The disclosure for this sale can be found here. Insiders have sold a total of 104,100 shares of company stock valued at $122,710,980 over the last 90 days. 1.37% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

NFLX has been the topic of a number of recent analyst reports. KeyCorp increased their price target on shares of Netflix from $1,070.00 to $1,390.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Citigroup reissued a "neutral" rating and set a $1,295.00 target price (up from $1,280.00) on shares of Netflix in a research note on Friday, October 3rd. Wedbush reaffirmed an "outperform" rating on shares of Netflix in a research note on Wednesday. JPMorgan Chase & Co. boosted their target price on shares of Netflix from $1,230.00 to $1,300.00 and gave the stock a "neutral" rating in a report on Friday, July 18th. Finally, Morgan Stanley set a $1,500.00 target price on shares of Netflix in a report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Netflix has a consensus rating of "Moderate Buy" and a consensus price target of $1,339.81.

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.

Want to see what other hedge funds are holding NFLX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Netflix, Inc. (NASDAQ:NFLX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.