Harris Associates L P Sells 159 Shares of Netflix, Inc. (NASDAQ:NFLX)

Harris Associates L P lessened its position in Netflix, Inc. (NASDAQ:NFLX) by 3.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,948 shares of the Internet television network’s stock after selling 159 shares during the period. Harris Associates L P’s holdings in Netflix were worth $2,800,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Park Avenue Securities LLC lifted its position in Netflix by 8.6% in the 2nd quarter. Park Avenue Securities LLC now owns 13,647 shares of the Internet television network’s stock valued at $9,210,000 after acquiring an additional 1,076 shares in the last quarter. Apella Capital LLC raised its position in shares of Netflix by 60.2% in the 2nd quarter. Apella Capital LLC now owns 995 shares of the Internet television network’s stock worth $682,000 after acquiring an additional 374 shares in the last quarter. Cullinan Associates Inc. lifted its stake in shares of Netflix by 98.6% in the second quarter. Cullinan Associates Inc. now owns 1,390 shares of the Internet television network’s stock worth $938,000 after buying an additional 690 shares in the last quarter. NBC Securities Inc. boosted its position in Netflix by 2.7% in the second quarter. NBC Securities Inc. now owns 4,173 shares of the Internet television network’s stock worth $2,816,000 after purchasing an additional 108 shares during the last quarter. Finally, Aprio Wealth Management LLC lifted its stake in shares of Netflix by 9.1% during the 2nd quarter. Aprio Wealth Management LLC now owns 1,840 shares of the Internet television network’s stock valued at $1,242,000 after buying an additional 153 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Jay C. Hoag sold 43,750 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $687.07, for a total transaction of $30,059,312.50. Following the completion of the transaction, the director now owns 95,040 shares of the company’s stock, valued at approximately $65,299,132.80. The trade was a 31.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Leslie J. Kilgore sold 428 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $715.00, for a total value of $306,020.00. The disclosure for this sale can be found here. Insiders have sold a total of 160,792 shares of company stock valued at $116,320,533 in the last quarter. Insiders own 1.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on NFLX shares. KeyCorp lifted their price objective on shares of Netflix from $760.00 to $785.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Wells Fargo & Company raised their price target on Netflix from $758.00 to $797.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. StockNews.com upgraded Netflix from a “hold” rating to a “buy” rating in a research report on Tuesday, September 24th. The Goldman Sachs Group set a $750.00 price objective on shares of Netflix in a research note on Friday, October 18th. Finally, TD Cowen lifted their price target on Netflix from $820.00 to $835.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $775.58.

Netflix Trading Up 1.2 %

NASDAQ:NFLX opened at $897.74 on Tuesday. The firm has a market capitalization of $383.75 billion, a P/E ratio of 50.81, a P/E/G ratio of 1.71 and a beta of 1.27. The company has a fifty day moving average of $773.01 and a 200 day moving average of $700.75. Netflix, Inc. has a 52 week low of $445.73 and a 52 week high of $908.00. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62.

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