Netflix, Inc. (NASDAQ:NFLX) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company trimmed its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 1.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 315,752 shares of the Internet television network’s stock after selling 3,260 shares during the period. The Manufacturers Life Insurance Company owned 0.07% of Netflix worth $223,953,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Jennison Associates LLC boosted its stake in Netflix by 4.7% during the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after purchasing an additional 316,594 shares during the period. International Assets Investment Management LLC lifted its stake in shares of Netflix by 116,620.0% in the 3rd quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock worth $4,080,522,000 after acquiring an additional 5,748,200 shares during the period. Baillie Gifford & Co. lifted its stake in shares of Netflix by 2.3% in the 2nd quarter. Baillie Gifford & Co. now owns 4,762,069 shares of the Internet television network’s stock worth $3,213,825,000 after acquiring an additional 106,756 shares during the period. Fisher Asset Management LLC lifted its stake in shares of Netflix by 2.8% in the 3rd quarter. Fisher Asset Management LLC now owns 4,481,939 shares of the Internet television network’s stock worth $3,178,905,000 after acquiring an additional 123,987 shares during the period. Finally, Legal & General Group Plc lifted its stake in shares of Netflix by 3.1% in the 2nd quarter. Legal & General Group Plc now owns 3,449,114 shares of the Internet television network’s stock worth $2,327,738,000 after acquiring an additional 104,332 shares during the period. 80.93% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Netflix

In other news, insider David A. Hyman sold 267 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total value of $204,433.89. Following the completion of the transaction, the insider now owns 31,610 shares in the company, valued at approximately $24,202,828.70. This represents a 0.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Anne M. Sweeney sold 589 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $880.00, for a total transaction of $518,320.00. The disclosure for this sale can be found here. Insiders sold a total of 185,866 shares of company stock valued at $133,393,921 in the last ninety days. Company insiders own 1.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Wedbush reaffirmed an “outperform” rating and issued a $950.00 price target (up from $800.00) on shares of Netflix in a research note on Monday, November 18th. Wells Fargo & Company upped their price target on shares of Netflix from $758.00 to $797.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. KeyCorp upped their price target on shares of Netflix from $760.00 to $785.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. China Renaissance began coverage on shares of Netflix in a research note on Thursday, September 5th. They issued a “hold” rating and a $680.00 price target for the company. Finally, Rosenblatt Securities increased their target price on shares of Netflix from $635.00 to $680.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have given a buy rating to the company’s stock. Based on data from MarketBeat, Netflix presently has an average rating of “Moderate Buy” and a consensus price target of $764.82.

Netflix Price Performance

NASDAQ NFLX opened at $872.60 on Wednesday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. Netflix, Inc. has a 1 year low of $445.73 and a 1 year high of $908.00. The company has a fifty day simple moving average of $762.10 and a 200 day simple moving average of $695.13. The company has a market cap of $373.00 billion, a P/E ratio of 49.38, a P/E/G ratio of 1.67 and a beta of 1.25.

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

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.