Montag & Caldwell LLC Lowers Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Montag & Caldwell LLC lessened its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 50.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,326 shares of the Internet television network’s stock after selling 19,775 shares during the period. Netflix accounts for approximately 2.6% of Montag & Caldwell LLC’s holdings, making the stock its 16th biggest position. Montag & Caldwell LLC’s holdings in Netflix were worth $13,043,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NFLX. M&G Plc purchased a new position in shares of Netflix in the 1st quarter worth about $9,682,000. BSN CAPITAL PARTNERS Ltd raised its holdings in Netflix by 24.4% in the first quarter. BSN CAPITAL PARTNERS Ltd now owns 250,000 shares of the Internet television network’s stock worth $155,185,000 after buying an additional 49,000 shares during the last quarter. Scarborough Advisors LLC bought a new position in shares of Netflix in the fourth quarter worth approximately $9,513,000. Scotia Capital Inc. grew its holdings in shares of Netflix by 9.1% during the fourth quarter. Scotia Capital Inc. now owns 25,351 shares of the Internet television network’s stock valued at $12,343,000 after buying an additional 2,110 shares during the last quarter. Finally, Focus Financial Network Inc. ADV bought a new stake in shares of Netflix during the fourth quarter valued at approximately $3,700,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Price Performance

Shares of NASDAQ:NFLX opened at $697.06 on Monday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market cap of $299.16 billion, a price-to-earnings ratio of 48.37, a P/E/G ratio of 1.40 and a beta of 1.26. The firm has a fifty day moving average price of $660.00 and a 200 day moving average price of $637.88. Netflix, Inc. has a fifty-two week low of $344.73 and a fifty-two week high of $711.33.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, beating analysts’ consensus estimates of $4.74 by $0.14. The firm had revenue of $9.56 billion during the quarter, compared to analyst estimates of $9.53 billion. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The business’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same quarter last year, the business posted $3.29 earnings per share. As a group, sell-side analysts expect that Netflix, Inc. will post 19.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Jay C. Hoag sold 43,750 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $687.07, for a total transaction of $30,059,312.50. Following the completion of the transaction, the director now directly owns 95,040 shares in the company, valued at approximately $65,299,132.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Chairman Reed Hastings sold 25,074 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $680.92, for a total value of $17,073,388.08. Following the completion of the sale, the chairman now directly owns 85 shares of the company’s stock, valued at approximately $57,878.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jay C. Hoag sold 43,750 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $687.07, for a total value of $30,059,312.50. Following the sale, the director now owns 95,040 shares in the company, valued at approximately $65,299,132.80. The disclosure for this sale can be found here. Insiders have sold a total of 196,798 shares of company stock valued at $129,552,672 in the last quarter. 1.76% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Piper Sandler upped their price objective on Netflix from $600.00 to $650.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. Pivotal Research lifted their price objective on Netflix from $800.00 to $900.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Morgan Stanley raised their price target on shares of Netflix from $700.00 to $780.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Jefferies Financial Group boosted their price objective on shares of Netflix from $655.00 to $780.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Finally, Wedbush restated an “outperform” rating and issued a $725.00 target price on shares of Netflix in a report on Monday, May 20th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $685.29.

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.