ClariVest Asset Management LLC Cuts Stake in Netflix, Inc. (NASDAQ:NFLX)

ClariVest Asset Management LLC lessened its holdings in Netflix, Inc. (NASDAQ:NFLX) by 0.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,804 shares of the Internet television network’s stock after selling 76 shares during the quarter. Netflix accounts for 0.6% of ClariVest Asset Management LLC’s investment portfolio, making the stock its 23rd biggest position. ClariVest Asset Management LLC’s holdings in Netflix were worth $5,942,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. M&G Plc bought a new stake in shares of Netflix in the first quarter worth about $9,682,000. BSN CAPITAL PARTNERS Ltd increased its stake in shares of Netflix by 24.4% during the first quarter. BSN CAPITAL PARTNERS Ltd now owns 250,000 shares of the Internet television network’s stock valued at $155,185,000 after buying an additional 49,000 shares during the period. Scarborough Advisors LLC bought a new position in shares of Netflix during the fourth quarter valued at approximately $9,513,000. Bedel Financial Consulting Inc. purchased a new stake in Netflix in the fourth quarter worth $224,000. Finally, Scotia Capital Inc. increased its position in Netflix by 9.1% during the 4th quarter. Scotia Capital Inc. now owns 25,351 shares of the Internet television network’s stock valued at $12,343,000 after purchasing an additional 2,110 shares during the period. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Netflix

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 stock was sold at an average price of $680.92, for a total transaction of $17,073,388.08. Following the sale, the chairman now directly owns 85 shares of the company’s stock, valued at $57,878.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Chairman Reed Hastings sold 25,074 shares of Netflix stock in a transaction dated 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 transaction, the chairman now directly owns 85 shares of the company’s stock, valued at approximately $57,878.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jay C. Hoag sold 37,675 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $629.73, for a total transaction of $23,725,077.75. The disclosure for this sale can be found here. Insiders have sold a total of 157,831 shares of company stock worth $102,721,884 in the last three months. Insiders own 1.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Jefferies Financial Group increased their price target on shares of Netflix from $655.00 to $780.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Redburn Atlantic lifted their price target on Netflix from $740.00 to $760.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Piper Sandler raised their price objective on Netflix from $600.00 to $650.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. JPMorgan Chase & Co. upped their target price on shares of Netflix from $650.00 to $750.00 and gave the stock an “overweight” rating in a research report on Friday, July 12th. Finally, China Renaissance began coverage on shares of Netflix in a research note on Thursday, September 5th. They set a “hold” rating and a $680.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $685.29.

Netflix Stock Down 0.3 %

Shares of NFLX stock opened at $673.62 on Wednesday. The stock has a market cap of $289.10 billion, a P/E ratio of 46.75, a PEG ratio of 1.36 and a beta of 1.26. The company’s fifty day simple moving average is $659.81 and its two-hundred day simple moving average is $635.91. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.55. Netflix, Inc. has a 52 week low of $344.73 and a 52 week high of $711.33.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.74 by $0.14. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The business had revenue of $9.56 billion for the quarter, compared to the consensus estimate of $9.53 billion. During the same quarter in the previous year, the company posted $3.29 EPS. The company’s revenue was up 16.8% compared to the same quarter last year. Analysts predict that Netflix, Inc. will post 19.08 EPS for the current fiscal 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.