CMG Global Holdings LLC Cuts Stock Position in Netflix, Inc. (NASDAQ:NFLX)

CMG Global Holdings LLC decreased its holdings in Netflix, Inc. (NASDAQ:NFLX) by 26.6% in the 2nd quarter, HoldingsChannel reports. The firm owned 468 shares of the Internet television network’s stock after selling 170 shares during the quarter. CMG Global Holdings LLC’s holdings in Netflix were worth $316,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in NFLX. Vanguard Group Inc. lifted its position in shares of Netflix by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 36,587,911 shares of the Internet television network’s stock worth $22,220,936,000 after purchasing an additional 149,341 shares during the last quarter. Capital World Investors raised its stake in Netflix by 0.7% in the fourth quarter. Capital World Investors now owns 11,744,636 shares of the Internet television network’s stock valued at $5,718,265,000 after buying an additional 78,320 shares in the last quarter. Jennison Associates LLC lifted its holdings in Netflix by 17.0% during the 1st quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock worth $3,875,655,000 after buying an additional 929,193 shares during the last quarter. Baillie Gifford & Co. boosted its position in shares of Netflix by 2.3% during the 2nd quarter. Baillie Gifford & Co. now owns 4,762,069 shares of the Internet television network’s stock worth $3,213,825,000 after acquiring an additional 106,756 shares in the last quarter. Finally, Fisher Asset Management LLC increased its holdings in shares of Netflix by 1.8% in the 4th quarter. Fisher Asset Management LLC now owns 4,115,613 shares of the Internet television network’s stock valued at $2,003,810,000 after acquiring an additional 72,807 shares during the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on NFLX shares. Bank of America raised their price objective on shares of Netflix from $700.00 to $740.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Argus lifted their price target on shares of Netflix from $660.00 to $767.00 and gave the stock a “buy” rating in a research note on Tuesday, July 2nd. Redburn Atlantic upped their price objective on shares of Netflix from $740.00 to $760.00 and gave the company a “buy” rating in a research note on Friday, July 19th. Evercore ISI lifted their target price on Netflix from $710.00 to $750.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 27th. Finally, Macquarie reissued an “outperform” rating and issued a $685.00 target price on shares of Netflix in a research report on Tuesday, July 16th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $685.29.

Insider Buying and Selling

In other news, Director Leslie J. Kilgore sold 402 shares of the business’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $725.00, for a total transaction of $291,450.00. Following the completion of the sale, the director now directly owns 35,262 shares of the company’s stock, valued at approximately $25,564,950. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Netflix news, insider David A. Hyman sold 20,656 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total value of $12,499,565.28. Following the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at $19,128,159.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Leslie J. Kilgore sold 402 shares of the company’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $725.00, for a total value of $291,450.00. Following the completion of the sale, the director now directly owns 35,262 shares of the company’s stock, valued at approximately $25,564,950. The disclosure for this sale can be found here. Over the last three months, insiders have sold 179,494 shares of company stock valued at $118,230,884. Insiders own 1.76% of the company’s stock.

Netflix Trading Down 0.6 %

Shares of NFLX stock opened at $707.35 on Monday. The stock has a market cap of $304.87 billion, a P/E ratio of 49.09, a P/E/G ratio of 1.44 and a beta of 1.26. 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 fifty-two week low of $344.73 and a fifty-two week high of $725.26. The business has a fifty day simple moving average of $669.62 and a 200-day simple moving average of $644.91.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, beating the consensus estimate of $4.74 by $0.14. The firm had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $9.53 billion. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The firm’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.29 EPS. On average, analysts forecast that Netflix, Inc. will post 19.08 earnings per share for the current fiscal 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.