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

Slow Capital Inc. lowered its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 2.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,201 shares of the Internet television network’s stock after selling 819 shares during the period. Netflix makes up approximately 3.7% of Slow Capital Inc.’s portfolio, making the stock its 6th largest position. Slow Capital Inc.’s holdings in Netflix were worth $26,027,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in Netflix by 2.6% in the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock valued at $12,023,082,000 after acquiring an additional 426,740 shares during the period. Geode Capital Management LLC lifted its stake in shares of Netflix by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock worth $6,464,736,000 after purchasing an additional 123,029 shares during the period. Jennison Associates LLC boosted its holdings in shares of Netflix by 4.7% in the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after buying an additional 316,594 shares during the last quarter. International Assets Investment Management LLC grew its position in Netflix by 116,620.0% during the third quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock valued at $4,080,522,000 after buying an additional 5,748,200 shares during the period. Finally, Wellington Management Group LLP raised its position in Netflix by 0.5% in the third quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock worth $3,473,571,000 after acquiring an additional 23,702 shares during the period. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Oppenheimer boosted their price objective on shares of Netflix from $1,040.00 to $1,150.00 and gave the company an “outperform” rating in a research report on Wednesday, January 22nd. Jefferies Financial Group upped their price target on Netflix from $780.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. KeyCorp lifted their price objective on Netflix from $1,000.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Needham & Company LLC increased their target price on shares of Netflix from $800.00 to $1,150.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Finally, Wolfe Research raised shares of Netflix from a “peer perform” rating to an “outperform” rating and set a $1,100.00 price target on the stock in a report on Thursday, January 23rd. Ten research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,021.70.

Insider Buying and Selling

In related news, Director Jay C. Hoag sold 617 shares of the company’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $979.71, for a total value of $604,481.07. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Reed Hastings sold 48,363 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the transaction, the chairman now directly owns 114 shares of the company’s stock, valued at $102,212.40. This represents a 99.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 147,117 shares of company stock worth $123,913,691 in the last three months. Corporate insiders own 1.76% of the company’s stock.

Netflix Price Performance

NFLX opened at $971.89 on Tuesday. The firm has a market capitalization of $415.44 billion, a PE ratio of 49.01, a price-to-earnings-growth ratio of 1.53 and a beta of 1.27. The business’s 50-day moving average is $895.13 and its two-hundred day moving average is $768.18. Netflix, Inc. has a 1 year low of $542.01 and a 1 year high of $999.00. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.13.

Netflix (NASDAQ:NFLX) last posted its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, beating analysts’ consensus estimates of $4.20 by $0.07. The company had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $10,141,900 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. Netflix’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.11 earnings per share. Research analysts anticipate that Netflix, Inc. will post 23.72 earnings per share 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.