Prudential PLC Trims Position in Netflix, Inc. (NASDAQ:NFLX)

Prudential PLC reduced its stake in Netflix, Inc. (NASDAQ:NFLX) by 5.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 23,036 shares of the Internet television network’s stock after selling 1,405 shares during the quarter. Prudential PLC’s holdings in Netflix were worth $11,216,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Kolinsky Wealth Management LLC bought a new stake in Netflix during the 4th quarter valued at $315,000. CenterBook Partners LP raised its holdings in shares of Netflix by 16.7% in the fourth quarter. CenterBook Partners LP now owns 12,069 shares of the Internet television network’s stock valued at $5,876,000 after acquiring an additional 1,729 shares in the last quarter. Vinva Investment Management Ltd lifted its stake in Netflix by 17.5% in the fourth quarter. Vinva Investment Management Ltd now owns 15,450 shares of the Internet television network’s stock worth $7,578,000 after acquiring an additional 2,306 shares during the period. Angeles Wealth Management LLC grew its holdings in Netflix by 58.1% during the 4th quarter. Angeles Wealth Management LLC now owns 1,562 shares of the Internet television network’s stock worth $761,000 after acquiring an additional 574 shares in the last quarter. Finally, Exencial Wealth Advisors LLC boosted its stake in shares of Netflix by 33.8% during the fourth quarter. Exencial Wealth Advisors LLC now owns 1,563 shares of the Internet television network’s stock valued at $761,000 after purchasing an additional 395 shares in the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Netflix

In other Netflix news, Director Anne M. Sweeney sold 633 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $560.00, for a total transaction of $354,480.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Chairman Reed Hastings sold 20,566 shares of Netflix stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $610.42, for a total value of $12,553,897.72. Following the completion of the transaction, the chairman now owns 28 shares in the company, valued at approximately $17,091.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Anne M. Sweeney sold 633 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $560.00, for a total transaction of $354,480.00. The disclosure for this sale can be found here. Insiders sold a total of 69,994 shares of company stock worth $42,036,266 over the last three months. Insiders own 1.76% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. KeyCorp upped their target price on Netflix from $580.00 to $705.00 and gave the company an “overweight” rating in a research report on Wednesday, March 20th. Needham & Company LLC restated a “buy” rating and issued a $700.00 target price on shares of Netflix in a research note on Friday, May 17th. Jefferies Financial Group reiterated a “buy” rating and set a $655.00 price target on shares of Netflix in a research report on Wednesday, May 15th. TD Cowen increased their price target on shares of Netflix from $600.00 to $725.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Finally, Evercore ISI lifted their price objective on shares of Netflix from $650.00 to $700.00 and gave the company an “outperform” rating in a report on Tuesday, May 28th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-three have issued a buy rating to the company’s stock. According to data from MarketBeat, Netflix currently has an average rating of “Moderate Buy” and a consensus price target of $632.00.

Netflix Trading Down 1.1 %

Netflix stock traded down $7.05 during mid-day trading on Friday, hitting $641.47. The company’s stock had a trading volume of 1,874,885 shares, compared to its average volume of 4,117,150. The stock’s fifty day moving average is $612.46 and its two-hundred day moving average is $562.32. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $276.47 billion, a PE ratio of 44.52, a price-to-earnings-growth ratio of 1.40 and a beta of 1.26. Netflix, Inc. has a 1 year low of $344.73 and a 1 year high of $664.25.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.51 by $0.77. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The firm had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $9.28 billion. During the same period last year, the company earned $2.88 EPS. The company’s quarterly revenue was up 14.8% on a year-over-year basis. On average, analysts anticipate that Netflix, Inc. will post 18.31 EPS for the current year.

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.