Lyell Wealth Management LP Decreases Holdings in Netflix, Inc. (NASDAQ:NFLX)

Lyell Wealth Management LP trimmed its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 0.9% in the fourth quarter, Holdings Channel reports. The firm owned 11,089 shares of the Internet television network’s stock after selling 101 shares during the period. Lyell Wealth Management LP’s holdings in Netflix were worth $5,399,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in NFLX. International Assets Investment Management LLC boosted its position in Netflix by 15,039.1% in the 4th quarter. International Assets Investment Management LLC now owns 2,075,569 shares of the Internet television network’s stock valued at $1,010,553,000 after buying an additional 2,061,859 shares during the last quarter. Jennison Associates LLC boosted its position in Netflix by 40.6% in the 4th quarter. Jennison Associates LLC now owns 5,452,271 shares of the Internet television network’s stock valued at $2,654,602,000 after buying an additional 1,573,978 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in Netflix by 142.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 667,597 shares of the Internet television network’s stock valued at $252,085,000 after buying an additional 392,427 shares during the last quarter. Alecta Tjanstepension Omsesidigt boosted its position in Netflix by 171.4% in the 4th quarter. Alecta Tjanstepension Omsesidigt now owns 475,000 shares of the Internet television network’s stock valued at $231,258,000 after buying an additional 300,000 shares during the last quarter. Finally, Quadrature Capital Ltd purchased a new position in Netflix in the 3rd quarter valued at about $99,219,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Netflix

In related news, insider David A. Hyman sold 267 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $556.01, for a total transaction of $148,454.67. Following the completion of the sale, the insider now directly owns 31,610 shares in the company, valued at $17,575,476.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider David A. Hyman sold 267 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $556.01, for a total transaction of $148,454.67. Following the completion of the sale, the insider now directly owns 31,610 shares in the company, valued at $17,575,476.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Reed Hastings sold 20,566 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $610.42, for a total transaction of $12,553,897.72. Following the sale, the chairman now owns 28 shares of the company’s stock, valued at $17,091.76. The disclosure for this sale can be found here. Insiders have sold 160,106 shares of company stock worth $92,729,716 over the last quarter. 2.45% of the stock is currently owned by company insiders.

Netflix Price Performance

Shares of NASDAQ NFLX traded down $22.63 during mid-day trading on Wednesday, reaching $555.12. 5,303,842 shares of the company traded hands, compared to its average volume of 4,527,938. Netflix, Inc. has a fifty-two week low of $315.62 and a fifty-two week high of $639.00. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 1.12. The firm has a market cap of $239.20 billion, a PE ratio of 38.52, a price-to-earnings-growth ratio of 1.41 and a beta of 1.22. The stock has a fifty day simple moving average of $605.56 and a 200-day simple moving average of $517.91.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 EPS for the quarter, beating analysts’ consensus estimates of $4.51 by $0.77. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The business had revenue of $9.37 billion for the quarter, compared to analyst estimates of $9.28 billion. During the same quarter last year, the business earned $2.88 earnings per share. The business’s revenue for the quarter was up 14.8% on a year-over-year basis. Equities research analysts anticipate that Netflix, Inc. will post 17.87 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on NFLX shares. Canaccord Genuity Group cut shares of Netflix from a “buy” rating to a “hold” rating and decreased their price objective for the company from $720.00 to $585.00 in a research report on Friday, April 19th. KeyCorp upped their price objective on shares of Netflix from $580.00 to $705.00 and gave the company an “overweight” rating in a research report on Wednesday, March 20th. Barclays increased their price target on shares of Netflix from $475.00 to $550.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Netflix from $525.00 to $550.00 and gave the stock a “hold” rating in a research report on Monday, April 15th. Finally, DZ Bank raised shares of Netflix from a “hold” rating to a “buy” rating and set a $600.00 price target on the stock in a research report on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-two have given a 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 $630.58.

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.