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

Swiss National Bank lessened its holdings in Netflix, Inc. (NASDAQ:NFLX) by 0.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,279,000 shares of the Internet television network’s stock after selling 2,900 shares during the period. Netflix comprises about 0.6% of Swiss National Bank’s portfolio, making the stock its 22nd largest holding. Swiss National Bank’s holdings in Netflix were worth $907,156,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Denver PWM LLC purchased a new position in shares of Netflix in the 2nd quarter valued at about $25,000. Proffitt & Goodson Inc. increased its stake in Netflix by 380.0% during the 2nd quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock worth $32,000 after buying an additional 38 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. increased its stake in Netflix by 700.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after buying an additional 42 shares in the last quarter. AlphaMark Advisors LLC increased its stake in Netflix by 642.9% during the 2nd quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock worth $35,000 after buying an additional 45 shares in the last quarter. Finally, Triad Wealth Partners LLC purchased a new stake in Netflix during the 2nd quarter worth approximately $38,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Bank of America boosted their price objective on Netflix from $740.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. StockNews.com upgraded Netflix from a “hold” rating to a “buy” rating in a research note on Tuesday, September 24th. JPMorgan Chase & Co. boosted their price objective on Netflix from $750.00 to $850.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Wedbush boosted their target price on Netflix from $725.00 to $775.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Finally, Wells Fargo & Company boosted their target price on Netflix from $758.00 to $797.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $748.15.

Netflix Stock Down 1.6 %

Netflix stock opened at $823.96 on Friday. Netflix, Inc. has a twelve month low of $445.73 and a twelve month high of $841.00. The stock’s fifty day simple moving average is $735.77 and its 200-day simple moving average is $680.46. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $352.21 billion, a P/E ratio of 46.63, a P/E/G ratio of 1.59 and a beta of 1.25.

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 business had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.77 billion. As a group, equities analysts expect that Netflix, Inc. will post 19.78 earnings per share for the current fiscal year.

Insider Transactions at Netflix

In other news, Chairman Reed Hastings sold 45,290 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $706.16, for a total transaction of $31,981,986.40. Following the sale, the chairman now owns 85 shares of the company’s stock, valued at approximately $60,023.60. This represents a 99.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jay C. Hoag sold 43,750 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $687.07, for a total value of $30,059,312.50. Following the sale, the director now directly owns 95,040 shares in the company, valued at $65,299,132.80. This represents a 31.52 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, 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.

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.