Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P cut its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 2.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,269,533 shares of the Internet television network’s stock after selling 115,553 shares during the period. Netflix accounts for approximately 4.0% of Loomis Sayles & Co. L P’s investment portfolio, making the stock its 7th biggest holding. Loomis Sayles & Co. L P’s holdings in Netflix were worth $3,028,252,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Jennison Associates LLC raised its stake in Netflix by 4.7% in the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after buying an additional 316,594 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of Netflix by 116,620.0% during 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 in the last quarter. Baillie Gifford & Co. raised its position in shares of Netflix by 2.3% in the 2nd quarter. Baillie Gifford & Co. now owns 4,762,069 shares of the Internet television network’s stock valued at $3,213,825,000 after purchasing an additional 106,756 shares during the last quarter. Fisher Asset Management LLC boosted its stake in Netflix by 2.8% in the 3rd quarter. Fisher Asset Management LLC now owns 4,481,939 shares of the Internet television network’s stock worth $3,178,905,000 after purchasing an additional 123,987 shares in the last quarter. Finally, Legal & General Group Plc grew its position in Netflix by 3.1% during the 2nd quarter. Legal & General Group Plc now owns 3,449,114 shares of the Internet television network’s stock worth $2,327,738,000 after purchasing an additional 104,332 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on NFLX shares. Sanford C. Bernstein lifted their price objective on shares of Netflix from $625.00 to $780.00 and gave the stock a “market perform” rating in a research note on Friday, October 18th. Pivotal Research raised their price objective on Netflix from $925.00 to $1,100.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. JPMorgan Chase & Co. increased their price target on shares of Netflix from $750.00 to $850.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. China Renaissance started coverage on Netflix in a report on Thursday, September 5th. They issued a “hold” rating and a $680.00 price objective for the company. Finally, Wedbush reaffirmed an “outperform” rating and set a $950.00 target price (up from $800.00) on shares of Netflix in a report on Monday, November 18th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat, Netflix currently has a consensus rating of “Moderate Buy” and a consensus price target of $764.82.

Netflix Stock Performance

NASDAQ NFLX opened at $897.79 on Monday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13. The stock’s fifty day moving average is $755.40 and its two-hundred day moving average is $691.50. The firm has a market capitalization of $383.77 billion, a P/E ratio of 50.81, a price-to-earnings-growth ratio of 1.73 and a beta of 1.25. Netflix, Inc. has a fifty-two week low of $445.73 and a fifty-two week high of $908.00.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, beating the consensus estimate of $5.09 by $0.31. Netflix had a net margin of 20.70% and a return on equity of 35.86%. The firm had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.77 billion. On average, research analysts anticipate that Netflix, Inc. will post 19.78 earnings per share for the current year.

Insider Activity

In other Netflix news, insider David A. Hyman sold 267 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total transaction of $204,433.89. Following the completion of the transaction, the insider now owns 31,610 shares of the company’s stock, valued at $24,202,828.70. This trade represents a 0.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Timothy M. Haley sold 11,090 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $757.96, for a total transaction of $8,405,776.40. The disclosure for this sale can be found here. Insiders sold a total of 185,866 shares of company stock valued at $133,393,921 in the last 90 days. Company insiders own 1.76% of the company’s stock.

About Netflix

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.