BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Reduces Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its stake in Netflix, Inc. (NASDAQ:NFLX) by 13.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 71,898 shares of the Internet television network’s stock after selling 11,033 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Netflix were worth $50,995,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Denver PWM LLC purchased a new position in Netflix during the 2nd quarter worth approximately $25,000. RPg Family Wealth Advisory LLC acquired a new position in Netflix in the third quarter valued at $25,000. Proffitt & Goodson Inc. raised its holdings in shares of Netflix by 380.0% in the second quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock valued at $32,000 after buying an additional 38 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. boosted its stake in shares of Netflix by 700.0% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after buying an additional 42 shares during the period. Finally, AlphaMark Advisors LLC increased its holdings in shares of Netflix by 642.9% in the second quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock valued at $35,000 after purchasing an additional 45 shares during the period. Institutional investors and hedge funds own 80.93% of the company’s stock.

Insider Buying and Selling

In other Netflix news, Chairman Reed Hastings sold 25,074 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $680.92, for a total transaction of $17,073,388.08. Following the completion of the sale, the chairman now directly owns 85 shares in the company, valued at $57,878.20. The trade was a 99.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider David A. Hyman sold 267 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total transaction of $204,433.89. Following the completion of the transaction, the insider now directly owns 31,610 shares in the company, valued at approximately $24,202,828.70. This represents a 0.84 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 185,866 shares of company stock valued at $133,393,921. 1.76% of the stock is currently owned by company insiders.

Netflix Stock Up 1.1 %

Shares of NASDAQ:NFLX opened at $886.81 on Friday. The firm has a market cap of $379.07 billion, a price-to-earnings ratio of 50.19, a PEG ratio of 1.69 and a beta of 1.25. Netflix, Inc. has a 12-month low of $445.73 and a 12-month high of $908.00. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. The stock’s 50-day moving average price is $773.01 and its two-hundred day moving average price is $699.54.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, topping analysts’ consensus estimates of $5.09 by $0.31. The company had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. On average, research analysts forecast that Netflix, Inc. will post 19.78 EPS for the current year.

Wall Street Analysts Forecast Growth

NFLX has been the topic of several recent research reports. Needham & Company LLC boosted their price objective on shares of Netflix from $700.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Pivotal Research lifted their price target on Netflix from $925.00 to $1,100.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Macquarie reiterated an “outperform” rating and issued a $795.00 price objective on shares of Netflix in a research report on Friday, October 18th. Bank of America raised their price objective on shares of Netflix from $800.00 to $1,000.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Finally, Evercore ISI increased their target price on shares of Netflix from $750.00 to $775.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $764.82.

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.