Primecap Management Co. CA Decreases Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Primecap Management Co. CA cut its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 2.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 157,240 shares of the Internet television network’s stock after selling 3,150 shares during the quarter. Primecap Management Co. CA’s holdings in Netflix were worth $140,151,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. RPg Family Wealth Advisory LLC purchased a new stake in shares of Netflix during the third quarter valued at approximately $25,000. Pathway Financial Advisers LLC raised its holdings in Netflix by 82.4% during the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock valued at $27,000 after buying an additional 14 shares during the last quarter. Newton One Investments LLC bought a new stake in Netflix in the 4th quarter worth $34,000. MidAtlantic Capital Management Inc. bought a new stake in Netflix in the 3rd quarter worth $37,000. Finally, Pineridge Advisors LLC raised its stake in shares of Netflix by 4,000.0% during the fourth quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock valued at $37,000 after acquiring an additional 40 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors.

Netflix Price Performance

Shares of NASDAQ NFLX opened at $929.98 on Wednesday. The firm has a market cap of $397.81 billion, a P/E ratio of 46.90, a PEG ratio of 2.12 and a beta of 1.38. Netflix, Inc. has a twelve month low of $542.01 and a twelve month high of $1,064.50. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. The company has a 50 day moving average of $953.42 and a 200 day moving average of $853.33.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, topping the consensus estimate of $4.20 by $0.07. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The firm had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $10.14 billion. During the same quarter in the previous year, the business earned $2.11 earnings per share. The company’s revenue was up 16.0% on a year-over-year basis. As a group, research analysts expect that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Insider Buying and Selling at Netflix

In other Netflix news, Chairman Reed Hastings sold 35,868 shares of Netflix stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $888.08, for a total value of $31,853,653.44. Following the completion of the sale, the chairman now owns 114 shares of the company’s stock, valued at approximately $101,241.12. The trade was a 99.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Gregory K. Peters sold 4,939 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $1,030.00, for a total transaction of $5,087,170.00. Following the sale, the chief executive officer now owns 12,950 shares of the company’s stock, valued at approximately $13,338,500. This represents a 27.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 288,103 shares of company stock worth $279,142,041. Company insiders own 1.76% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on NFLX shares. Evercore ISI raised their target price on Netflix from $950.00 to $1,100.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft upped their price target on Netflix from $650.00 to $875.00 and gave the company a “hold” rating in a research report on Wednesday, January 22nd. Robert W. Baird lifted their price objective on Netflix from $875.00 to $1,200.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 22nd. Wolfe Research upgraded Netflix from a “peer perform” rating to an “outperform” rating and set a $1,100.00 target price for the company in a report on Thursday, January 23rd. Finally, UBS Group reiterated a “buy” rating on shares of Netflix in a report on Monday, March 10th. Ten investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Netflix presently has an average rating of “Moderate Buy” and an average price target of $1,016.78.

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.