Montag & Caldwell LLC Sells 19,775 Shares of Netflix, Inc. (NASDAQ:NFLX)

Montag & Caldwell LLC reduced its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 50.6% in the second quarter, Holdings Channel.com reports. The fund owned 19,326 shares of the Internet television network’s stock after selling 19,775 shares during the quarter. Netflix comprises about 2.6% of Montag & Caldwell LLC’s portfolio, making the stock its 16th largest holding. Montag & Caldwell LLC’s holdings in Netflix were worth $13,043,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the business. Wellington Management Group LLP boosted its stake in shares of Netflix by 540.9% during the fourth quarter. Wellington Management Group LLP now owns 3,878,785 shares of the Internet television network’s stock valued at $1,888,503,000 after purchasing an additional 3,273,592 shares during the period. GQG Partners LLC bought a new stake in Netflix during the 1st quarter valued at about $1,450,476,000. Jennison Associates LLC boosted its position in Netflix by 17.0% in the 1st quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock valued at $3,875,655,000 after buying an additional 929,193 shares during the period. Global Assets Advisory LLC bought a new position in Netflix in the 1st quarter worth about $436,514,000. Finally, Jericho Capital Asset Management L.P. purchased a new position in shares of Netflix during the first quarter worth approximately $372,293,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Insider Activity

In related news, Director Leslie J. Kilgore sold 1,372 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $704.81, for a total value of $966,999.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Leslie J. Kilgore sold 1,372 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $704.81, for a total transaction of $966,999.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Spencer Adam Neumann sold 433 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $626.19, for a total transaction of $271,140.27. The disclosure for this sale can be found here. Insiders have sold a total of 196,798 shares of company stock worth $129,552,672 over the last quarter. 1.76% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on NFLX shares. Citigroup increased their price objective on Netflix from $660.00 to $675.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. JPMorgan Chase & Co. raised their price target on Netflix from $650.00 to $750.00 and gave the company an “overweight” rating in a research note on Friday, July 12th. Needham & Company LLC reaffirmed a “buy” rating and issued a $700.00 price objective on shares of Netflix in a research note on Friday, July 19th. Pivotal Research raised their target price on shares of Netflix from $800.00 to $900.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Finally, Morgan Stanley upped their price target on shares of Netflix from $700.00 to $780.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $685.29.

Netflix Price Performance

Shares of NASDAQ NFLX opened at $697.06 on Monday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market cap of $299.16 billion, a PE ratio of 48.37, a PEG ratio of 1.40 and a beta of 1.26. Netflix, Inc. has a one year low of $344.73 and a one year high of $711.33. The firm has a fifty day moving average of $660.00 and a 200 day moving average of $637.88.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, topping the consensus estimate of $4.74 by $0.14. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The firm had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $9.53 billion. During the same quarter in the prior year, the firm earned $3.29 EPS. The company’s revenue for the quarter was up 16.8% on a year-over-year basis. As a group, research analysts predict that Netflix, Inc. will post 19.08 EPS for the current fiscal year.

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.