Netflix, Inc. $NFLX Shares Sold by Stanley Laman Group Ltd.

Stanley Laman Group Ltd. cut its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 12.4% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,062 shares of the Internet television network’s stock after selling 150 shares during the quarter. Stanley Laman Group Ltd.’s holdings in Netflix were worth $1,422,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Resurgent Financial Advisors LLC boosted its holdings in shares of Netflix by 234.4% in the 1st quarter. Resurgent Financial Advisors LLC now owns 1,010 shares of the Internet television network’s stock valued at $942,000 after purchasing an additional 708 shares during the last quarter. MRA Advisory Group raised its position in shares of Netflix by 28.4% in the 2nd quarter. MRA Advisory Group now owns 919 shares of the Internet television network’s stock worth $1,231,000 after buying an additional 203 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in Netflix by 42.1% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 441,861 shares of the Internet television network’s stock valued at $412,059,000 after acquiring an additional 130,946 shares during the last quarter. Sava Infond d.o.o. grew its position in Netflix by 25.1% during the second quarter. Sava Infond d.o.o. now owns 1,495 shares of the Internet television network’s stock valued at $2,002,000 after acquiring an additional 300 shares during the period. Finally, McGlone Suttner Wealth Management Inc. increased its stake in Netflix by 1.4% during the second quarter. McGlone Suttner Wealth Management Inc. now owns 989 shares of the Internet television network’s stock worth $1,324,000 after acquiring an additional 14 shares during the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Price Performance

Shares of NFLX stock opened at $1,199.36 on Friday. The firm has a fifty day simple moving average of $1,213.47 and a 200-day simple moving average of $1,177.58. The company has a market capitalization of $509.64 billion, a PE ratio of 51.10, a price-to-earnings-growth ratio of 2.02 and a beta of 1.59. Netflix, Inc. has a twelve month low of $736.23 and a twelve month high of $1,341.15. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.58.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, topping analysts’ consensus estimates of $7.07 by $0.12. The firm had revenue of $11.08 billion for the quarter, compared to analyst estimates of $11.04 billion. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The firm’s revenue was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.88 EPS. Equities research analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on NFLX shares. KeyCorp lifted their price objective on Netflix from $1,070.00 to $1,390.00 and gave the company an “overweight” rating in a research note on Thursday, July 10th. Pivotal Research reaffirmed a “buy” rating on shares of Netflix in a research report on Thursday, July 10th. Wall Street Zen lowered shares of Netflix from a “buy” rating to a “hold” rating in a research report on Saturday, October 4th. Piper Sandler raised their target price on shares of Netflix from $1,400.00 to $1,500.00 and gave the company an “overweight” rating in a research note on Friday, July 18th. Finally, JPMorgan Chase & Co. upped their price target on shares of Netflix from $1,230.00 to $1,300.00 and gave the stock a “neutral” rating in a research report on Friday, July 18th. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,339.81.

Insider Buying and Selling at Netflix

In related news, Director Reed Hastings sold 42,176 shares of the business’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $1,171.92, for a total value of $49,426,897.92. Following the transaction, the director owned 394 shares in the company, valued at approximately $461,736.48. The trade was a 99.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Spencer Adam Neumann sold 2,600 shares of the stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $1,172.51, for a total value of $3,048,526.00. Following the completion of the transaction, the chief financial officer directly owned 3,691 shares of the company’s stock, valued at $4,327,734.41. This represents a 41.33% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 104,100 shares of company stock valued at $122,710,980. Company insiders own 1.37% of the company’s stock.

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.