Envestnet Asset Management Inc. Has $19.37 Million Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Envestnet Asset Management Inc. reduced its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 6.4% in the third quarter, Holdings Channel reports. The institutional investor owned 72,379 shares of the Internet television network’s stock after selling 4,929 shares during the period. Envestnet Asset Management Inc.’s holdings in Netflix were worth $19,370,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Marshall Wace LLP lifted its holdings in shares of Netflix by 5,692.5% during the first quarter. Marshall Wace LLP now owns 5,387 shares of the Internet television network’s stock worth $1,921,000 after purchasing an additional 5,294 shares during the period. Bath Savings Trust Co bought a new position in Netflix during the second quarter worth $204,000. Fulton Bank N.A. raised its stake in Netflix by 16.8% during the second quarter. Fulton Bank N.A. now owns 6,243 shares of the Internet television network’s stock worth $2,293,000 after buying an additional 899 shares during the last quarter. Douglas Lane & Associates LLC raised its stake in Netflix by 20.2% during the second quarter. Douglas Lane & Associates LLC now owns 998 shares of the Internet television network’s stock worth $367,000 after buying an additional 168 shares during the last quarter. Finally, Crossmark Global Holdings Inc. raised its stake in Netflix by 1.2% during the second quarter. Crossmark Global Holdings Inc. now owns 22,422 shares of the Internet television network’s stock worth $8,236,000 after buying an additional 256 shares during the last quarter. Hedge funds and other institutional investors own 78.93% of the company’s stock.

In related news, Director Bradford L. Smith purchased 6,499 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were bought at an average price of $308.49 per share, with a total value of $2,004,876.51. Following the acquisition, the director now owns 799 shares of the company’s stock, valued at approximately $246,483.51. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Reed Hastings sold 40,061 shares of Netflix stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $275.64, for a total transaction of $11,042,414.04. Following the completion of the sale, the chief executive officer now directly owns 40,061 shares in the company, valued at approximately $11,042,414.04. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 135,702 shares of company stock worth $38,290,015. 3.72% of the stock is owned by corporate insiders.

A number of equities analysts recently weighed in on the stock. Sanford C. Bernstein lowered their target price on shares of Netflix from $450.00 to $422.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Wells Fargo & Co lifted their target price on shares of Netflix from $288.00 to $308.00 and gave the stock a “market perform” rating in a research note on Thursday, October 17th. Imperial Capital set a $451.00 target price on shares of Netflix and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Monness Crespi & Hardt lowered their target price on shares of Netflix from $440.00 to $340.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Finally, KeyCorp reissued a “hold” rating on shares of Netflix in a research note on Tuesday, September 24th. Six analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $363.11.

Netflix stock opened at $266.69 on Wednesday. Netflix, Inc. has a fifty-two week low of $231.23 and a fifty-two week high of $385.99. The stock has a market cap of $121.74 billion, a PE ratio of 99.51, a price-to-earnings-growth ratio of 2.78 and a beta of 1.20. The firm’s 50-day simple moving average is $278.94 and its 200 day simple moving average is $329.48. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.85 and a current ratio of 0.73.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Wednesday, October 16th. The Internet television network reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.42. Netflix had a net margin of 7.49% and a return on equity of 23.65%. The business had revenue of $5.25 billion for the quarter, compared to analysts’ expectations of $5.25 billion. During the same period in the previous year, the company earned $0.89 earnings per share. The firm’s revenue for the quarter was up 31.2% compared to the same quarter last year. As a group, analysts predict that Netflix, Inc. will post 3.32 EPS for the current fiscal year.

Netflix Profile

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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