Logan Capital Management Inc. Sells 1,576 Shares of Netflix, Inc. (NASDAQ:NFLX)

Logan Capital Management Inc. lowered its position in Netflix, Inc. (NASDAQ:NFLX) by 2.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,908 shares of the Internet television network’s stock after selling 1,576 shares during the quarter. Netflix makes up approximately 1.8% of Logan Capital Management Inc.’s holdings, making the stock its 9th biggest position. Logan Capital Management Inc.’s holdings in Netflix were worth $43,909,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. International Assets Investment Management LLC boosted its position in shares of Netflix by 116,620.0% in the third quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock valued at $4,080,522,000 after acquiring an additional 5,748,200 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of Netflix by 154.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,058,431 shares of the Internet television network’s stock worth $750,713,000 after buying an additional 642,920 shares during the period. State Street Corp grew its position in Netflix by 2.6% in the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock valued at $12,023,082,000 after acquiring an additional 426,740 shares during the period. Jennison Associates LLC raised its stake in Netflix by 4.7% during the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after acquiring an additional 316,594 shares in the last quarter. Finally, Westfield Capital Management Co. LP bought a new position in shares of Netflix during the third quarter valued at $222,871,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

NFLX has been the subject of several research analyst reports. TD Cowen boosted their price objective on shares of Netflix from $820.00 to $835.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Evercore ISI lifted their price target on shares of Netflix from $775.00 to $950.00 and gave the stock an “outperform” rating in a research report on Monday, December 2nd. Oppenheimer raised their price objective on shares of Netflix from $775.00 to $825.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. Piper Sandler reiterated an “overweight” rating and set a $840.00 target price (up previously from $800.00) on shares of Netflix in a research report on Friday, October 18th. Finally, JPMorgan Chase & Co. lifted their price objective on Netflix from $850.00 to $1,010.00 and gave the stock an “overweight” rating in a research note on Wednesday. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $787.85.

Insider Buying and Selling

In related news, CEO Gregory K. Peters sold 4,392 shares of Netflix stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $725.00, for a total value of $3,184,200.00. Following the completion of the sale, the chief executive officer now owns 13,090 shares of the company’s stock, valued at approximately $9,490,250. This trade represents a 25.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Reed Hastings sold 48,363 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the sale, the chairman now directly owns 114 shares in the company, valued at approximately $102,212.40. This trade represents a 99.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 165,405 shares of company stock worth $129,623,487. 1.76% of the stock is owned by insiders.

Netflix Trading Down 0.4 %

Shares of NASDAQ:NFLX traded down $4.16 during mid-day trading on Friday, hitting $921.39. The company had a trading volume of 160,178 shares, compared to its average volume of 3,613,754. The company has a market capitalization of $393.86 billion, a PE ratio of 52.38, a price-to-earnings-growth ratio of 1.80 and a beta of 1.27. Netflix, Inc. has a one year low of $461.86 and a one year high of $941.75. The firm has a fifty day moving average price of $810.04 and a 200 day moving average price of $717.45. 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 (NASDAQ:NFLX) last issued its earnings results 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 company had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.77 billion. As a group, research analysts forecast that Netflix, Inc. will post 19.78 EPS for the current year.

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.