Impax Asset Management Group plc Trims Stake in Netflix, Inc. (NASDAQ:NFLX)

Impax Asset Management Group plc trimmed its stake in Netflix, Inc. (NASDAQ:NFLX) by 9.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,159 shares of the Internet television network’s stock after selling 1,690 shares during the period. Impax Asset Management Group plc’s holdings in Netflix were worth $11,461,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of NFLX. Tocqueville Asset Management L.P. increased its stake in shares of Netflix by 17.8% in the 1st quarter. Tocqueville Asset Management L.P. now owns 2,719 shares of the Internet television network’s stock worth $1,651,000 after purchasing an additional 411 shares in the last quarter. M&G Plc bought a new position in Netflix in the 1st quarter worth $9,682,000. Spirepoint Private Client LLC bought a new position in Netflix in the 1st quarter worth $237,000. Acadian Asset Management LLC boosted its holdings in Netflix by 15.6% in the 1st quarter. Acadian Asset Management LLC now owns 22,840 shares of the Internet television network’s stock worth $13,868,000 after buying an additional 3,077 shares during the period. Finally, Blue Barn Wealth LLC boosted its holdings in Netflix by 5.2% in the 1st quarter. Blue Barn Wealth LLC now owns 1,287 shares of the Internet television network’s stock worth $782,000 after buying an additional 64 shares during the period. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Netflix Stock Performance

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. Netflix, Inc. has a 1-year low of $445.73 and a 1-year high of $841.00. The firm has a market capitalization of $352.21 billion, a P/E ratio of 46.63, a price-to-earnings-growth ratio of 1.60 and a beta of 1.25. The company’s 50-day moving average is $732.60 and its 200 day moving average is $677.72.

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 net margin of 20.70% and a return on equity of 35.86%. The company had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.77 billion. Research analysts forecast that Netflix, Inc. will post 19.78 EPS for the current year.

Insider Transactions at Netflix

In other news, Director Timothy M. Haley sold 647 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $800.19, for a total transaction of $517,722.93. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Reed Hastings sold 25,074 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $680.92, for a total transaction of $17,073,388.08. Following the transaction, the chairman now directly owns 85 shares in the company, valued at approximately $57,878.20. This trade represents a 99.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 205,084 shares of company stock valued at $146,747,101. 1.76% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on NFLX shares. Citigroup upped their target price on shares of Netflix from $660.00 to $675.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. StockNews.com raised shares of Netflix from a “hold” rating to a “buy” rating in a report on Tuesday, September 24th. Sanford C. Bernstein upped their target price on shares of Netflix from $625.00 to $780.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. Needham & Company LLC upped their target price on shares of Netflix from $700.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Finally, Loop Capital increased their price objective on shares of Netflix from $750.00 to $800.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $748.15.

Netflix Profile

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.