Swiss National Bank Trims Position in Netflix, Inc. (NASDAQ:NFLX)

Swiss National Bank lessened its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 0.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,279,000 shares of the Internet television network’s stock after selling 2,900 shares during the quarter. Netflix accounts for 0.6% of Swiss National Bank’s portfolio, making the stock its 22nd biggest holding. Swiss National Bank owned 0.30% of Netflix worth $907,156,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. International Assets Investment Management LLC increased its position in Netflix by 116,620.0% in the third quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock worth $4,080,522,000 after buying an additional 5,748,200 shares in the last quarter. Baillie Gifford & Co. increased its position in Netflix by 2.3% in the second quarter. Baillie Gifford & Co. now owns 4,762,069 shares of the Internet television network’s stock worth $3,213,825,000 after buying an additional 106,756 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of Netflix by 3.1% in the second quarter. Legal & General Group Plc now owns 3,449,114 shares of the Internet television network’s stock worth $2,327,738,000 after acquiring an additional 104,332 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Netflix by 2.6% in the second quarter. Bank of New York Mellon Corp now owns 3,281,306 shares of the Internet television network’s stock worth $2,214,488,000 after acquiring an additional 83,762 shares during the period. Finally, GQG Partners LLC bought a new position in shares of Netflix in the first quarter worth about $1,450,476,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NFLX. Rosenblatt Securities upped their price objective on Netflix from $635.00 to $680.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Loop Capital increased their price target on Netflix from $750.00 to $800.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. StockNews.com raised Netflix from a “hold” rating to a “buy” rating in a research note on Tuesday, September 24th. Bank of America increased their price target on Netflix from $740.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Finally, Evercore ISI increased their price target on Netflix from $750.00 to $775.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. Two investment 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 company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $748.15.

Insiders Place Their Bets

In other Netflix news, Director Timothy M. Haley sold 647 shares of Netflix stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $800.19, for a total transaction of $517,722.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David A. Hyman sold 13,791 shares of Netflix stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $700.00, for a total value of $9,653,700.00. Following the transaction, the insider now owns 31,610 shares of the company’s stock, valued at $22,127,000. The trade was a 30.38 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 205,084 shares of company stock valued at $146,747,101. 1.76% of the stock is owned by company insiders.

Netflix Stock Down 1.6 %

Netflix stock opened at $823.96 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. The stock has a market capitalization of $352.21 billion, a price-to-earnings ratio of 46.63, a PEG ratio of 1.59 and a beta of 1.25. Netflix, Inc. has a 1-year low of $445.73 and a 1-year high of $841.00. The business has a fifty day moving average price of $735.77 and a 200-day moving average price of $680.46.

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