Renaissance Technologies LLC Trims Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Renaissance Technologies LLC decreased its holdings in Netflix, Inc. (NASDAQ:NFLX) by 2.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 407,935 shares of the Internet television network’s stock after selling 12,274 shares during the period. Netflix makes up approximately 0.5% of Renaissance Technologies LLC’s portfolio, making the stock its 21st biggest position. Renaissance Technologies LLC’s holdings in Netflix were worth $363,605,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. West Michigan Advisors LLC raised its stake in Netflix by 1.3% during the fourth quarter. West Michigan Advisors LLC now owns 776 shares of the Internet television network’s stock worth $692,000 after purchasing an additional 10 shares during the period. Warwick Investment Management Inc. grew its holdings in shares of Netflix by 3.5% during the 4th quarter. Warwick Investment Management Inc. now owns 298 shares of the Internet television network’s stock worth $266,000 after purchasing an additional 10 shares during the period. MRP Capital Investments LLC raised its holdings in Netflix by 1.0% in the fourth quarter. MRP Capital Investments LLC now owns 1,052 shares of the Internet television network’s stock valued at $938,000 after buying an additional 10 shares during the period. Bedell Frazier Investment Counselling LLC raised its stake in shares of Netflix by 2.2% during the fourth quarter. Bedell Frazier Investment Counselling LLC now owns 462 shares of the Internet television network’s stock valued at $412,000 after purchasing an additional 10 shares during the period. Finally, Enzi Wealth grew its holdings in Netflix by 3.4% during the 4th quarter. Enzi Wealth now owns 331 shares of the Internet television network’s stock valued at $316,000 after purchasing an additional 11 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Insider Activity

In related news, Chairman Reed Hastings sold 25,360 shares of the company’s stock in a transaction dated 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 owns 394 shares in the company, valued at approximately $362,933.10. This represents a 98.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ann Mather sold 2,682 shares of Netflix stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $973.00, for a total transaction of $2,609,586.00. The disclosure for this sale can be found here. Insiders sold a total of 274,312 shares of company stock valued at $267,919,297 in the last ninety days. 1.76% of the stock is owned by insiders.

Netflix Trading Up 1.4 %

NFLX opened at $867.83 on Tuesday. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $371.22 billion, a PE ratio of 43.76, a PEG ratio of 2.12 and a beta of 1.55. The firm has a 50-day moving average price of $968.16 and a two-hundred day moving average price of $878.26. Netflix, Inc. has a 1-year low of $542.01 and a 1-year high of $1,064.50.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, beating 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 business had revenue of $10.25 billion for the quarter, compared to analysts’ expectations of $10.14 billion. During the same quarter last year, the business earned $2.11 earnings per share. The firm’s quarterly revenue was up 16.0% compared to the same quarter last year. As a group, equities analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Analyst Ratings Changes

NFLX has been the topic of several recent analyst reports. Evercore ISI boosted their price target on Netflix from $950.00 to $1,100.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 22nd. Guggenheim reiterated a “buy” rating and set a $1,100.00 price objective on shares of Netflix in a research note on Thursday, April 3rd. Needham & Company LLC lifted their target price on Netflix from $800.00 to $1,150.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Benchmark upgraded Netflix from a “sell” rating to a “hold” rating in a research report on Wednesday, January 22nd. Finally, Morgan Stanley boosted their price objective on Netflix from $1,050.00 to $1,150.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Netflix currently has a consensus rating of “Moderate Buy” and an average price target of $1,023.74.

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.