Whale Rock Capital Management LLC Sells 165,500 Shares of Netflix, Inc. (NASDAQ:NFLX)

Whale Rock Capital Management LLC decreased its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 24.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 503,647 shares of the Internet television network’s stock after selling 165,500 shares during the period. Netflix accounts for about 3.2% of Whale Rock Capital Management LLC’s portfolio, making the stock its 15th biggest position. Whale Rock Capital Management LLC owned 0.12% of Netflix worth $185,000,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in NFLX. Nelson Roberts Investment Advisors LLC boosted its position in shares of Netflix by 600.0% during the 2nd quarter. Nelson Roberts Investment Advisors LLC now owns 84 shares of the Internet television network’s stock valued at $31,000 after purchasing an additional 72 shares in the last quarter. TCG Advisors LP bought a new stake in shares of Netflix during the 1st quarter valued at about $36,000. SRS Capital Advisors Inc. bought a new stake in shares of Netflix during the 2nd quarter valued at about $39,000. SevenBridge Financial Group LLC boosted its position in shares of Netflix by 66.7% during the 2nd quarter. SevenBridge Financial Group LLC now owns 125 shares of the Internet television network’s stock valued at $46,000 after purchasing an additional 50 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC boosted its position in shares of Netflix by 182.0% during the 1st quarter. Thompson Siegel & Walmsley LLC now owns 141 shares of the Internet television network’s stock valued at $50,000 after purchasing an additional 91 shares in the last quarter. Institutional investors own 78.96% of the company’s stock.

Shares of Netflix stock traded down $11.33 on Tuesday, hitting $254.59. The company had a trading volume of 9,755,785 shares, compared to its average volume of 6,815,171. The stock has a market capitalization of $111.47 billion, a price-to-earnings ratio of 95.00, a P/E/G ratio of 2.78 and a beta of 1.24. Netflix, Inc. has a 1 year low of $231.23 and a 1 year high of $386.80. The stock has a 50 day moving average of $295.31 and a 200-day moving average of $342.11. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.85 and a current ratio of 0.85.



Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Wednesday, July 17th. The Internet television network reported $0.60 EPS for the quarter, topping the consensus estimate of $0.56 by $0.04. The firm had revenue of $4.92 billion during the quarter, compared to the consensus estimate of $4.93 billion. Netflix had a return on equity of 20.88% and a net margin of 6.53%. The company’s quarterly revenue was up 26.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.85 earnings per share. Equities analysts anticipate that Netflix, Inc. will post 3.25 earnings per share for the current year.

Several equities research analysts recently commented on NFLX shares. Citigroup cut their target price on Netflix from $420.00 to $410.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Rosenblatt Securities restated a “neutral” rating and set a $370.00 target price (up previously from $350.00) on shares of Netflix in a research report on Wednesday, July 10th. Wedbush upped their target price on Netflix from $183.00 to $188.00 and gave the company an “underperform” rating in a research report on Thursday, July 18th. ValuEngine lowered Netflix from a “buy” rating to a “hold” rating in a research report on Saturday, June 1st. Finally, Needham & Company LLC restated a “hold” rating on shares of Netflix in a research report on Friday, July 19th. Four analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $383.35.

In related news, Director Ann Mather sold 1,208 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $375.00, for a total transaction of $453,000.00. Following the completion of the sale, the director now directly owns 357 shares of the company’s stock, valued at $133,875. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Reed Hastings sold 55,342 shares of the stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $309.54, for a total value of $17,130,562.68. Following the sale, the chief executive officer now directly owns 55,342 shares of the company’s stock, valued at $17,130,562.68. The disclosure for this sale can be found here. Over the last three months, insiders sold 108,819 shares of company stock valued at $33,269,490. Company insiders own 3.72% of the company’s stock.

About Netflix

Netflix, Inc provides Internet entertainment services. The company operates in three segments: Domestic streaming, International streaming, and Domestic DVD. It offers TV series, documentaries, and feature films across various genres and languages. The company provides members the ability to receive streaming content through a host of Internet-connected screens, including TVs, digital video players, television set-top boxes, and mobile devices.

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Institutional Ownership by Quarter for Netflix (NASDAQ:NFLX)

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