Alight Capital Management LP Sells 2,000 Shares of Netflix, Inc. (NASDAQ:NFLX)

Alight Capital Management LP reduced its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 20.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,000 shares of the Internet television network’s stock after selling 2,000 shares during the quarter. Netflix accounts for approximately 1.3% of Alight Capital Management LP’s portfolio, making the stock its 24th largest holding. Alight Capital Management LP’s holdings in Netflix were worth $5,399,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of NFLX. Wellington Management Group LLP grew its holdings in shares of Netflix by 540.9% in the fourth quarter. Wellington Management Group LLP now owns 3,878,785 shares of the Internet television network’s stock worth $1,888,503,000 after purchasing an additional 3,273,592 shares during the last quarter. GQG Partners LLC bought a new stake in Netflix in the 1st quarter worth $1,450,476,000. Jennison Associates LLC increased its position in shares of Netflix by 17.0% in the first quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock valued at $3,875,655,000 after acquiring an additional 929,193 shares during the period. Global Assets Advisory LLC purchased a new position in shares of Netflix in the first quarter valued at about $436,514,000. Finally, Jericho Capital Asset Management L.P. bought a new position in shares of Netflix during the first quarter valued at about $372,293,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Insider Activity at Netflix

In other Netflix news, Chairman Reed Hastings sold 22,526 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $670.49, for a total value of $15,103,457.74. Following the transaction, the chairman now directly owns 57 shares in the company, valued at $38,217.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Chairman Reed Hastings sold 22,526 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $670.49, for a total value of $15,103,457.74. Following the transaction, the chairman now directly owns 57 shares of the company’s stock, valued at approximately $38,217.93. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Gregory K. Peters sold 1,278 shares of Netflix stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $614.44, for a total value of $785,254.32. Following the transaction, the chief executive officer now owns 13,090 shares in the company, valued at $8,043,019.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 197,226 shares of company stock worth $129,858,692. 1.76% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on NFLX. China Renaissance began coverage on Netflix in a research note on Thursday, September 5th. They issued a “hold” rating and a $680.00 target price on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $700.00 price objective on shares of Netflix in a research report on Friday, July 19th. The Goldman Sachs Group upped their target price on Netflix from $650.00 to $659.00 and gave the company a “neutral” rating in a report on Friday, July 19th. Sanford C. Bernstein lifted their price target on shares of Netflix from $600.00 to $625.00 and gave the company a “market perform” rating in a report on Friday, July 19th. Finally, Pivotal Research upped their price objective on shares of Netflix from $800.00 to $900.00 and gave the stock a “buy” rating in a report on Friday, August 30th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $685.29.

Netflix Stock Performance

Shares of NFLX stock opened at $722.26 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.55. The company has a 50 day moving average price of $665.29 and a 200-day moving average price of $642.66. Netflix, Inc. has a 52 week low of $344.73 and a 52 week high of $722.44. The firm has a market capitalization of $309.97 billion, a PE ratio of 50.12, a P/E/G ratio of 1.44 and a beta of 1.26.

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 analysts’ consensus estimates of $4.74 by $0.14. The business had revenue of $9.56 billion during the quarter, compared to analyst estimates of $9.53 billion. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The company’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same period in the previous year, the business earned $3.29 EPS. As a group, equities research analysts expect that Netflix, Inc. will post 19.08 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.