William Blair Investment Management LLC Sells 5,861 Shares of Netflix, Inc. $NFLX

William Blair Investment Management LLC decreased its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 37.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,836 shares of the Internet television network's stock after selling 5,861 shares during the period. William Blair Investment Management LLC's holdings in Netflix were worth $13,172,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Resurgent Financial Advisors LLC boosted its holdings in Netflix by 234.4% during the first quarter. Resurgent Financial Advisors LLC now owns 1,010 shares of the Internet television network's stock worth $942,000 after buying an additional 708 shares during the last quarter. MRA Advisory Group boosted its holdings in Netflix by 28.4% during the second quarter. MRA Advisory Group now owns 919 shares of the Internet television network's stock worth $1,231,000 after buying an additional 203 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in Netflix by 42.1% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 441,861 shares of the Internet television network's stock worth $412,059,000 after buying an additional 130,946 shares during the last quarter. Sava Infond d.o.o. boosted its holdings in Netflix by 25.1% during the second quarter. Sava Infond d.o.o. now owns 1,495 shares of the Internet television network's stock worth $2,002,000 after buying an additional 300 shares during the last quarter. Finally, McGlone Suttner Wealth Management Inc. boosted its holdings in Netflix by 1.4% during the second quarter. McGlone Suttner Wealth Management Inc. now owns 989 shares of the Internet television network's stock worth $1,324,000 after buying an additional 14 shares during the last quarter. Institutional investors own 80.93% of the company's stock.

Analyst Upgrades and Downgrades

NFLX has been the topic of a number of recent analyst reports. Jefferies Financial Group restated a "buy" rating on shares of Netflix in a report on Tuesday, October 14th. UBS Group reaffirmed a "buy" rating and set a $1,495.00 price target on shares of Netflix in a research report on Thursday. Wells Fargo & Company raised their price target on Netflix from $1,500.00 to $1,560.00 and gave the stock an "overweight" rating in a research report on Friday, July 18th. JPMorgan Chase & Co. raised their price target on Netflix from $1,230.00 to $1,300.00 and gave the stock a "neutral" rating in a research report on Friday, July 18th. Finally, Citigroup reaffirmed a "neutral" rating and set a $1,295.00 price target (up previously from $1,280.00) on shares of Netflix in a research report on Friday, October 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $1,339.81.

Insiders Place Their Bets

In related news, insider Cletus R. Willems sold 238 shares of Netflix stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $1,153.52, for a total value of $274,537.76. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Gregory K. Peters sold 2,026 shares of Netflix stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $1,157.44, for a total value of $2,344,973.44. Following the completion of the sale, the chief executive officer directly owned 12,781 shares in the company, valued at approximately $14,793,240.64. This represents a 13.68% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 104,100 shares of company stock worth $122,710,980 in the last 90 days. Company insiders own 1.37% of the company's stock.

Netflix Stock Up 1.3%

Shares of Netflix stock opened at $1,199.36 on Monday. The business's 50 day simple moving average is $1,213.47 and its 200 day simple moving average is $1,179.41. Netflix, Inc. has a 52-week low of $736.23 and a 52-week high of $1,341.15. The firm has a market cap of $509.64 billion, a PE ratio of 51.10, a P/E/G ratio of 2.02 and a beta of 1.59. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.34 and a current ratio of 1.34.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $11.04 billion. During the same quarter last year, the firm earned $4.88 EPS. Netflix's revenue for the quarter was up 15.9% compared to the same quarter last year. On average, analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

About Netflix

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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