Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Empirical Capital Management LLC

Empirical Capital Management LLC lowered its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 9.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,000 shares of the Internet television network’s stock after selling 600 shares during the period. Netflix comprises 2.9% of Empirical Capital Management LLC’s portfolio, making the stock its 13th largest holding. Empirical Capital Management LLC’s holdings in Netflix were worth $4,049,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. DigitalBridge Group Inc. grew its holdings in shares of Netflix by 35.5% in the 2nd quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock worth $24,338,000 after acquiring an additional 9,451 shares during the period. M&G Plc purchased a new stake in Netflix during the first quarter worth $9,682,000. BSN CAPITAL PARTNERS Ltd boosted its position in Netflix by 24.4% during the first quarter. BSN CAPITAL PARTNERS Ltd now owns 250,000 shares of the Internet television network’s stock worth $155,185,000 after purchasing an additional 49,000 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Netflix by 58.2% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 82,931 shares of the Internet television network’s stock valued at $55,968,000 after buying an additional 30,511 shares in the last quarter. Finally, Scarborough Advisors LLC acquired a new position in shares of Netflix during the 4th quarter worth $9,513,000. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Netflix Trading Down 0.6 %

Shares of NASDAQ NFLX opened at $707.35 on Friday. Netflix, Inc. has a 12-month low of $344.73 and a 12-month high of $725.26. The company has a market cap of $304.87 billion, a price-to-earnings ratio of 49.09, a price-to-earnings-growth ratio of 1.44 and a beta of 1.26. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. The stock’s 50 day simple moving average is $669.62 and its 200 day simple moving average is $644.43.

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

Wall Street Analysts Forecast Growth

NFLX has been the topic of a number of research reports. Rosenblatt Securities reissued a “neutral” rating and issued a $635.00 price objective on shares of Netflix in a research note on Friday, September 20th. JPMorgan Chase & Co. lifted their price objective on Netflix from $650.00 to $750.00 and gave the stock an “overweight” rating in a research report on Friday, July 12th. StockNews.com upgraded Netflix from a “hold” rating to a “buy” rating in a report on Tuesday. Needham & Company LLC reissued a “buy” rating and issued a $700.00 price target on shares of Netflix in a report on Friday, July 19th. Finally, China Renaissance assumed coverage on shares of Netflix in a research report on Thursday, September 5th. They issued a “hold” rating and a $680.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $685.29.

Insiders Place Their Bets

In related news, CEO Gregory K. Peters sold 4,392 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $725.00, for a total value of $3,184,200.00. Following the sale, the chief executive officer now directly owns 13,090 shares in the company, valued at approximately $9,490,250. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Gregory K. Peters sold 4,392 shares of the company’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $725.00, for a total value of $3,184,200.00. Following the completion of the sale, the chief executive officer now owns 13,090 shares of the company’s stock, valued at $9,490,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David A. Hyman sold 20,656 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the transaction, the insider now directly owns 31,610 shares in the company, valued at approximately $19,128,159.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 202,020 shares of company stock worth $133,334,342. Insiders own 1.76% of the company’s stock.

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.