Bridgewater Associates LP Sells 13,905 Shares of Netflix, Inc. (NASDAQ:NFLX)

Bridgewater Associates LP lessened its stake in Netflix, Inc. (NASDAQ:NFLX) by 39.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,396 shares of the Internet television network’s stock after selling 13,905 shares during the period. Bridgewater Associates LP’s holdings in Netflix were worth $15,176,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. New World Advisors LLC increased its holdings in Netflix by 2.0% during the third quarter. New World Advisors LLC now owns 724 shares of the Internet television network’s stock valued at $514,000 after buying an additional 14 shares during the last quarter. Heartland Bank & Trust Co lifted its position in Netflix by 0.9% during the second quarter. Heartland Bank & Trust Co now owns 1,770 shares of the Internet television network’s stock valued at $1,195,000 after purchasing an additional 15 shares in the last quarter. Cedrus LLC increased its position in Netflix by 0.8% in the third quarter. Cedrus LLC now owns 1,781 shares of the Internet television network’s stock worth $1,263,000 after buying an additional 15 shares in the last quarter. Capstone Triton Financial Group LLC lifted its position in shares of Netflix by 0.6% during the 3rd quarter. Capstone Triton Financial Group LLC now owns 2,421 shares of the Internet television network’s stock valued at $1,717,000 after buying an additional 15 shares in the last quarter. Finally, Meritas Wealth Management LLC grew its stake in shares of Netflix by 2.9% during the 3rd quarter. Meritas Wealth Management LLC now owns 573 shares of the Internet television network’s stock valued at $406,000 after acquiring an additional 16 shares during the period. Institutional investors own 80.93% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Gregory K. Peters sold 4,392 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $725.00, for a total transaction of $3,184,200.00. Following the completion of the transaction, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at $9,490,250. This represents a 25.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Reed Hastings sold 45,290 shares of the business’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 completion of the sale, the chairman now directly owns 85 shares of the company’s stock, valued at approximately $60,023.60. The trade was a 99.81 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 185,866 shares of company stock worth $133,393,921. Company insiders own 1.76% of the company’s stock.

Netflix Stock Up 0.5 %

Shares of NFLX stock opened at $877.34 on Thursday. Netflix, Inc. has a twelve month low of $445.73 and a twelve month high of $908.00. The stock has a market cap of $375.03 billion, a P/E ratio of 49.65, a P/E/G ratio of 1.67 and a beta of 1.25. The stock has a 50 day moving average of $765.83 and a 200 day moving average of $696.40. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 EPS 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 business had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.77 billion. As a group, sell-side analysts expect that Netflix, Inc. will post 19.78 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. increased their price objective on shares of Netflix from $750.00 to $850.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. UBS Group increased their price target on Netflix from $750.00 to $825.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Piper Sandler restated an “overweight” rating and issued a $840.00 price objective (up from $800.00) on shares of Netflix in a research report on Friday, October 18th. Wedbush reaffirmed an “outperform” rating and issued a $950.00 price objective (up previously from $800.00) on shares of Netflix in a research note on Monday, November 18th. Finally, KeyCorp raised their target price on shares of Netflix from $760.00 to $785.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $764.82.

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.