Lazari Capital Management Inc. Trims Holdings in Netflix, Inc. (NASDAQ:NFLX)

Lazari Capital Management Inc. lowered its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 1.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,891 shares of the Internet television network’s stock after selling 40 shares during the period. Netflix accounts for 1.2% of Lazari Capital Management Inc.’s investment portfolio, making the stock its 18th largest position. Lazari Capital Management Inc.’s holdings in Netflix were worth $2,760,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Netflix by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 36,587,911 shares of the Internet television network’s stock worth $22,220,936,000 after buying an additional 149,341 shares during the last quarter. Jennison Associates LLC lifted its holdings in Netflix by 17.0% in the first quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock valued at $3,875,655,000 after acquiring an additional 929,193 shares during the last quarter. Baillie Gifford & Co. increased its stake in Netflix by 2.3% during the second quarter. Baillie Gifford & Co. now owns 4,762,069 shares of the Internet television network’s stock worth $3,213,825,000 after acquiring an additional 106,756 shares during the last quarter. Legal & General Group Plc raised its position in Netflix by 3.1% in the second quarter. Legal & General Group Plc now owns 3,449,114 shares of the Internet television network’s stock valued at $2,327,738,000 after purchasing an additional 104,332 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Netflix by 2.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,281,306 shares of the Internet television network’s stock valued at $2,214,488,000 after purchasing an additional 83,762 shares during the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Netflix Stock Performance

Shares of Netflix stock opened at $764.24 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.55. Netflix, Inc. has a 52 week low of $395.62 and a 52 week high of $773.00. The firm’s 50 day moving average is $701.48 and its two-hundred day moving average is $657.11. The firm has a market capitalization of $329.39 billion, a P/E ratio of 53.04, a P/E/G ratio of 1.49 and a beta of 1.26.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. StockNews.com raised Netflix from a “hold” rating to a “buy” rating in a research report on Tuesday, September 24th. Sanford C. Bernstein lifted their price target on shares of Netflix from $625.00 to $780.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. Jefferies Financial Group upped their price objective on shares of Netflix from $780.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Pivotal Research lifted their target price on shares of Netflix from $900.00 to $925.00 and gave the company a “buy” rating in a report on Friday, October 18th. Finally, Macquarie reissued an “outperform” rating and issued a $795.00 target price on shares of Netflix in a research report on Friday, October 18th. Two 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’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $747.70.

Insider Activity

In related news, insider David A. Hyman sold 20,656 shares of Netflix 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider David A. Hyman sold 13,791 shares of the company’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $700.00, for a total value of $9,653,700.00. Following the completion of the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at $22,127,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David A. Hyman sold 20,656 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now owns 31,610 shares in the company, valued at $19,128,159.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 229,711 shares of company stock worth $153,905,830. Corporate insiders own 1.76% of the company’s stock.

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.