Netflix, Inc. (NASDAQ:NFLX) Stock Position Cut by Varenne Capital Partners

Varenne Capital Partners cut its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 38.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 42,141 shares of the Internet television network’s stock after selling 26,122 shares during the period. Netflix comprises approximately 11.1% of Varenne Capital Partners’ holdings, making the stock its 5th largest position. Varenne Capital Partners’ holdings in Netflix were worth $37,561,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Pathway Financial Advisers LLC increased its position in Netflix by 82.4% during the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock valued at $27,000 after acquiring an additional 14 shares during the last quarter. Newton One Investments LLC purchased a new stake in shares of Netflix during the 4th quarter valued at about $34,000. Pineridge Advisors LLC lifted its stake in shares of Netflix by 4,000.0% in the 4th quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock worth $37,000 after purchasing an additional 40 shares during the period. Princeton Global Asset Management LLC boosted its holdings in shares of Netflix by 51.6% in the fourth quarter. Princeton Global Asset Management LLC now owns 47 shares of the Internet television network’s stock worth $42,000 after buying an additional 16 shares during the last quarter. Finally, Decker Retirement Planning Inc. bought a new stake in Netflix during the fourth quarter valued at approximately $43,000. 80.93% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Benchmark upgraded shares of Netflix from a “sell” rating to a “hold” rating in a research note on Wednesday, January 22nd. StockNews.com lowered Netflix from a “buy” rating to a “hold” rating in a report on Tuesday, February 4th. Rosenblatt Securities raised Netflix from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $680.00 to $1,494.00 in a research report on Wednesday, January 22nd. Citigroup increased their target price on shares of Netflix from $725.00 to $920.00 and gave the stock a “neutral” rating in a report on Thursday, December 5th. Finally, Oppenheimer lifted their price target on shares of Netflix from $1,040.00 to $1,150.00 and gave the company an “outperform” rating in a report on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,021.02.

Netflix Trading Down 4.4 %

NASDAQ NFLX opened at $933.85 on Friday. Netflix, Inc. has a 12 month low of $542.01 and a 12 month high of $1,064.50. The company’s 50-day moving average price is $971.74 and its 200-day moving average price is $868.10. The stock has a market cap of $399.46 billion, a PE ratio of 47.09, a PEG ratio of 2.12 and a beta of 1.38. 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) last issued its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, topping analysts’ consensus estimates of $4.20 by $0.07. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The business had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $10.14 billion. During the same period in the prior year, the firm earned $2.11 EPS. The company’s revenue for the quarter was up 16.0% compared to the same quarter last year. Equities research analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insiders Place Their Bets

In other Netflix news, Director Richard N. Barton sold 6,364 shares of the stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $879.38, for a total transaction of $5,596,374.32. Following the transaction, the director now directly owns 246 shares in the company, valued at $216,327.48. This represents a 96.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David A. Hyman sold 41,121 shares of the firm’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $979.01, for a total transaction of $40,257,870.21. Following the transaction, the insider now directly owns 31,610 shares in the company, valued at $30,946,506.10. This trade represents a 56.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 288,583 shares of company stock worth $279,611,567 in the last ninety days. 1.76% of the stock is owned by company insiders.

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.