Gulf International Bank UK Ltd Cuts Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Gulf International Bank UK Ltd lessened its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 4.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 34,036 shares of the Internet television network’s stock after selling 1,495 shares during the quarter. Netflix comprises about 0.6% of Gulf International Bank UK Ltd’s investment portfolio, making the stock its 23rd biggest holding. Gulf International Bank UK Ltd’s holdings in Netflix were worth $24,140,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Moloney Securities Asset Management LLC bought a new stake in Netflix during the third quarter valued at approximately $777,000. Hazlett Burt & Watson Inc. boosted its stake in Netflix by 149.2% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 750 shares of the Internet television network’s stock worth $536,000 after purchasing an additional 449 shares during the period. PDS Planning Inc grew its stake in Netflix by 2.1% during the third quarter. PDS Planning Inc now owns 2,130 shares of the Internet television network’s stock valued at $1,511,000 after acquiring an additional 43 shares in the last quarter. Leeward Financial Partners LLC lifted its position in shares of Netflix by 3.4% in the third quarter. Leeward Financial Partners LLC now owns 4,947 shares of the Internet television network’s stock worth $3,509,000 after buying an additional 162 shares in the last quarter. Finally, Signify Wealth bought a new position in shares of Netflix during the 3rd quarter valued at approximately $359,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Netflix Stock Performance

Shares of Netflix stock opened at $755.51 on Tuesday. The company has a 50-day simple moving average of $714.30 and a two-hundred day simple moving average of $665.72. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13. Netflix, Inc. has a one year low of $429.61 and a one year high of $773.00. The company has a market capitalization of $322.95 billion, a PE ratio of 42.76, a P/E/G ratio of 1.46 and a beta of 1.25.

Wall Street Analyst Weigh In

Several brokerages have weighed in on NFLX. China Renaissance assumed coverage on Netflix in a research note on Thursday, September 5th. They set a “hold” rating and a $680.00 price objective on the stock. Sanford C. Bernstein increased their price target on Netflix from $625.00 to $780.00 and gave the company a “market perform” rating in a report on Friday, October 18th. TD Cowen lifted their price objective on shares of Netflix from $820.00 to $835.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Oppenheimer increased their target price on shares of Netflix from $775.00 to $825.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. Finally, Wells Fargo & Company lifted 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. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat, Netflix has an average rating of “Moderate Buy” and an average price target of $748.15.

Insiders Place Their Bets

In other news, Chairman Reed Hastings sold 41,601 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $758.06, for a total transaction of $31,536,054.06. Following the transaction, the chairman now owns 85 shares in the company, valued at $64,435.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Netflix news, Chairman Reed Hastings sold 41,601 shares of Netflix stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $758.06, for a total transaction of $31,536,054.06. Following the completion of the transaction, the chairman now owns 85 shares in the company, valued at approximately $64,435.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Spencer Adam Neumann sold 433 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $626.19, for a total value of $271,140.27. The disclosure for this sale can be found here. Over the last three months, insiders have sold 229,477 shares of company stock valued at $160,300,776. 1.76% of the stock is currently owned by insiders.

Netflix 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.