Point72 Italy S.r.l. Reduces Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Point72 Italy S.r.l. lowered its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 71.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,300 shares of the Internet television network's stock after selling 13,200 shares during the quarter. Netflix accounts for 2.6% of Point72 Italy S.r.l.'s investment portfolio, making the stock its 13th biggest position. Point72 Italy S.r.l.'s holdings in Netflix were worth $4,724,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. RMR Wealth Builders lifted its stake in shares of Netflix by 4.8% in the 4th quarter. RMR Wealth Builders now owns 4,863 shares of the Internet television network's stock valued at $4,335,000 after acquiring an additional 221 shares during the last quarter. Fiduciary Alliance LLC purchased a new stake in shares of Netflix in the 4th quarter worth approximately $349,000. Signal Advisors Wealth LLC lifted its position in Netflix by 112.6% in the 4th quarter. Signal Advisors Wealth LLC now owns 791 shares of the Internet television network's stock valued at $705,000 after acquiring an additional 419 shares in the last quarter. Breakwater Capital Group lifted its holdings in shares of Netflix by 7.5% during the 4th quarter. Breakwater Capital Group now owns 547 shares of the Internet television network's stock valued at $488,000 after buying an additional 38 shares during the period. Finally, Sharper & Granite LLC lifted its holdings in shares of Netflix by 20.3% during the 4th quarter. Sharper & Granite LLC now owns 355 shares of the Internet television network's stock valued at $316,000 after buying an additional 60 shares during the period. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Netflix news, Director Bradford L. Smith sold 3,919 shares of the company's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $1,124.26, for a total value of $4,405,974.94. Following the completion of the transaction, the director now owns 7,969 shares in the company, valued at $8,959,227.94. This represents a 32.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Reed Hastings sold 25,360 shares of the company's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $921.15, for a total transaction of $23,360,364.00. Following the completion of the transaction, the chairman now owns 394 shares of the company's stock, valued at $362,933.10. This represents a 98.47% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 132,868 shares of company stock worth $138,483,256. Corporate insiders own 1.76% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on NFLX shares. Oppenheimer reiterated an "outperform" rating and issued a $1,200.00 price target (up previously from $1,150.00) on shares of Netflix in a research note on Friday, April 18th. Rosenblatt Securities boosted their target price on Netflix from $1,494.00 to $1,514.00 and gave the company a "buy" rating in a research report on Monday, April 21st. Barclays boosted their price target on Netflix from $900.00 to $1,000.00 and gave the company an "equal weight" rating in a report on Monday, April 21st. Robert W. Baird boosted their price objective on shares of Netflix from $1,200.00 to $1,300.00 and gave the stock an "outperform" rating in a research note on Friday. Finally, Loop Capital reissued a "hold" rating on shares of Netflix in a research note on Monday, March 24th. Ten equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,093.39.

Netflix Trading Up 1.2%

Netflix stock traded up $13.55 during trading on Friday, hitting $1,191.53. The company had a trading volume of 4,681,460 shares, compared to its average volume of 3,764,905. The company's 50 day simple moving average is $1,009.34 and its 200-day simple moving average is $945.60. The stock has a market cap of $507.08 billion, a price-to-earnings ratio of 60.09, a price-to-earnings-growth ratio of 2.12 and a beta of 1.58. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. Netflix, Inc. has a 1-year low of $587.04 and a 1-year high of $1,196.50.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, topping the consensus estimate of $5.74 by $0.87. The business had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $10.51 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. During the same quarter in the previous year, the firm posted $8.28 earnings per share. As a group, analysts expect that Netflix, Inc. will post 24.58 EPS 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.