Shellback Capital LP Reduces Stake in Netflix, Inc. (NASDAQ:NFLX)

Shellback Capital LP reduced its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 25.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,000 shares of the Internet television network's stock after selling 10,000 shares during the quarter. Netflix makes up approximately 1.8% of Shellback Capital LP's investment portfolio, making the stock its 15th largest position. Shellback Capital LP's holdings in Netflix were worth $26,740,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in NFLX. RMR Wealth Builders grew its holdings in shares of Netflix by 4.8% during the 4th quarter. RMR Wealth Builders now owns 4,863 shares of the Internet television network's stock worth $4,335,000 after purchasing an additional 221 shares during the period. Sovereign Financial Group Inc. lifted its stake in Netflix by 34.8% during the 4th quarter. Sovereign Financial Group Inc. now owns 593 shares of the Internet television network's stock worth $529,000 after acquiring an additional 153 shares in the last quarter. Board of the Pension Protection Fund acquired a new position in Netflix during the 4th quarter worth about $89,000. Acropolis Investment Management LLC lifted its stake in Netflix by 5.7% during the 4th quarter. Acropolis Investment Management LLC now owns 297 shares of the Internet television network's stock worth $265,000 after acquiring an additional 16 shares in the last quarter. Finally, Apella Capital LLC lifted its stake in Netflix by 1.6% during the 4th quarter. Apella Capital LLC now owns 1,071 shares of the Internet television network's stock worth $955,000 after acquiring an additional 17 shares in the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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

Analyst Upgrades and Downgrades

Several research firms recently issued reports on NFLX. Deutsche Bank Aktiengesellschaft increased their target price on Netflix from $650.00 to $875.00 and gave the stock a "hold" rating in a research note on Wednesday, January 22nd. Macquarie increased their target price on Netflix from $1,150.00 to $1,200.00 and gave the stock an "outperform" rating in a research note on Monday, April 21st. Loop Capital reissued a "hold" rating on shares of Netflix in a research note on Monday, March 24th. Citigroup reissued a "neutral" rating on shares of Netflix in a research note on Monday, May 5th. Finally, Barclays increased their target price on Netflix from $900.00 to $1,000.00 and gave the stock an "equal weight" rating in a research note on Monday, April 21st. Ten analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $1,084.91.

Netflix Price Performance

Shares of NASDAQ NFLX opened at $1,177.98 on Friday. The stock has a market cap of $501.31 billion, a P/E ratio of 59.40, a P/E/G ratio of 2.12 and a beta of 1.58. Netflix, Inc. has a twelve month low of $587.04 and a twelve month high of $1,187.80. The stock has a 50 day moving average of $1,003.42 and a two-hundred day moving average of $942.62. 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 (NASDAQ:NFLX - Get Free Report) last announced its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.74 by $0.87. The business had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.51 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. During the same period last year, the firm posted $8.28 earnings per share. On average, research analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current 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.

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