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

Conway Capital Management Inc. trimmed its position in Netflix, Inc. (NASDAQ:NFLX) by 0.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,796 shares of the Internet television network’s stock after selling 95 shares during the quarter. Netflix comprises about 7.8% of Conway Capital Management Inc.’s investment portfolio, making the stock its 5th biggest position. Conway Capital Management Inc.’s holdings in Netflix were worth $17,645,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in NFLX. International Assets Investment Management LLC boosted its position in shares of Netflix by 116,620.0% during the 3rd 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 last quarter. Assenagon Asset Management S.A. raised its stake in Netflix by 154.7% during the third quarter. Assenagon Asset Management S.A. now owns 1,058,431 shares of the Internet television network’s stock valued at $750,713,000 after purchasing an additional 642,920 shares in the last quarter. State Street Corp raised its stake in Netflix by 2.6% during 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 purchasing an additional 426,740 shares in the last quarter. Jennison Associates LLC lifted its position 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 valued at $4,958,417,000 after purchasing an additional 316,594 shares during the last quarter. Finally, Westfield Capital Management Co. LP purchased a new position in shares of Netflix in the 3rd quarter worth $222,871,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Richard N. Barton sold 6,364 shares of the company’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $879.38, for a total value of $5,596,374.32. Following the transaction, the director now directly owns 246 shares of the company’s stock, valued at $216,327.48. This represents a 96.28 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Theodore A. Sarandos sold 1,278 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $767.05, for a total value of $980,289.90. Following the completion of the transaction, the chief executive officer now owns 2,556 shares of the company’s stock, valued at $1,960,579.80. This trade represents a 33.33 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 146,500 shares of company stock valued at $123,309,210. Insiders own 1.76% of the company’s stock.

Netflix Trading Up 3.2 %

NASDAQ NFLX opened at $984.86 on Friday. The company has a 50 day moving average price of $889.11 and a 200 day moving average price of $763.41. The firm has a market cap of $420.99 billion, a PE ratio of 49.67, a price-to-earnings-growth ratio of 1.53 and a beta of 1.27. The company has a quick ratio of 1.13, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. Netflix, Inc. has a 52 week low of $537.07 and a 52 week high of $999.00.

Netflix (NASDAQ:NFLX) last announced its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.20 by $0.07. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The company had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10,141,900 billion. During the same period in the prior year, the company posted $2.11 EPS. The firm’s quarterly revenue was up 16.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Netflix, Inc. will post 23.72 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Pivotal Research increased their price target on shares of Netflix from $1,100.00 to $1,250.00 and gave the company a “buy” rating in a report on Wednesday. Morgan Stanley upped their price objective on Netflix from $1,050.00 to $1,150.00 and gave the company an “overweight” rating in a research report on Wednesday. Evercore ISI lifted their target price on Netflix from $950.00 to $1,100.00 and gave the stock an “outperform” rating in a report on Wednesday. Seaport Res Ptn raised Netflix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 15th. Finally, Rosenblatt Securities upgraded Netflix from a “neutral” rating to a “buy” rating and raised their price target for the stock from $680.00 to $1,494.00 in a research report on Wednesday. Ten research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $996.94.

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.