GFG Capital LLC Lowers Position in Netflix, Inc. (NASDAQ:NFLX)

GFG Capital LLC lessened its stake in Netflix, Inc. (NASDAQ:NFLX) by 6.5% in the third quarter, HoldingsChannel reports. The firm owned 18,198 shares of the Internet television network’s stock after selling 1,265 shares during the period. Netflix makes up approximately 3.3% of GFG Capital LLC’s holdings, making the stock its 7th largest holding. GFG Capital LLC’s holdings in Netflix were worth $12,907,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in NFLX. GQG Partners LLC purchased a new position in Netflix during the first quarter valued at approximately $1,450,476,000. Jennison Associates LLC boosted its holdings 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 worth $3,875,655,000 after buying an additional 929,193 shares during the period. Jericho Capital Asset Management L.P. bought a new position in Netflix in the 1st quarter worth $372,293,000. Swedbank AB purchased a new stake in Netflix in the 1st quarter worth $216,538,000. Finally, Renaissance Technologies LLC bought a new stake in Netflix during the second quarter valued at about $183,365,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Netflix

In other Netflix news, insider David A. Hyman sold 20,656 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total value of $12,499,565.28. Following the completion of the sale, the insider now owns 31,610 shares of the company’s stock, valued at approximately $19,128,159.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Netflix news, Chairman Reed Hastings sold 25,599 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $631.43, for a total value of $16,163,976.57. Following the completion of the transaction, the chairman now owns 57 shares of the company’s stock, valued at approximately $35,991.51. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider David A. Hyman sold 20,656 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the sale, the insider now directly owns 31,610 shares in the company, valued at $19,128,159.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 229,711 shares of company stock valued at $153,905,830 in the last ninety days. Corporate insiders own 1.76% of the company’s stock.

Netflix Stock Performance

Shares of NFLX stock opened at $772.07 on Tuesday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. The company has a market cap of $332.76 billion, a PE ratio of 53.58, a PEG ratio of 1.49 and a beta of 1.26. Netflix, Inc. has a 12-month low of $395.62 and a 12-month high of $773.00. The business’s fifty day simple moving average is $699.16 and its 200-day simple moving average is $656.21.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their target price on Netflix from $750.00 to $850.00 and gave the company an “overweight” rating in a research note on Friday. Macquarie reiterated an “outperform” rating and set a $795.00 price objective on shares of Netflix in a research report on Friday. UBS Group upped their target price on shares of Netflix from $750.00 to $825.00 and gave the stock a “buy” rating in a research report on Friday. Barclays reiterated an “underweight” rating and issued a $550.00 price target on shares of Netflix in a report on Friday. Finally, Rosenblatt Securities raised their price objective on Netflix from $635.00 to $680.00 and gave the company a “neutral” rating in a research report on Friday. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $747.70.

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.