Netflix, Inc. (NASDAQ:NFLX) Stock Holdings Trimmed by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA reduced its stake in Netflix, Inc. (NASDAQ:NFLX) by 9.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 594,611 shares of the Internet television network’s stock after selling 60,167 shares during the period. Pictet Asset Management Holding SA’s holdings in Netflix were worth $529,989,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its holdings in Netflix by 13.3% during the third quarter. Principal Financial Group Inc. now owns 1,692,563 shares of the Internet television network’s stock worth $1,200,485,000 after buying an additional 198,148 shares in the last quarter. Qsemble Capital Management LP acquired a new stake in shares of Netflix during the 3rd quarter valued at $209,000. Blueshift Asset Management LLC bought a new stake in shares of Netflix during the 3rd quarter worth $339,000. CreativeOne Wealth LLC grew its holdings in shares of Netflix by 41.2% in the 3rd quarter. CreativeOne Wealth LLC now owns 3,470 shares of the Internet television network’s stock worth $2,461,000 after acquiring an additional 1,013 shares during the last quarter. Finally, RPg Family Wealth Advisory LLC acquired a new stake in shares of Netflix during the third quarter worth $25,000. 80.93% of the stock is owned by institutional investors.

Netflix Price Performance

NFLX opened at $976.72 on Friday. The company has a fifty day moving average price of $970.22 and a two-hundred day moving average price of $864.96. The firm has a market capitalization of $417.80 billion, a PE ratio of 49.25, a P/E/G ratio of 2.12 and a beta of 1.38. Netflix, Inc. has a 52 week low of $542.01 and a 52 week high of $1,064.50. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, topping analysts’ consensus estimates of $4.20 by $0.07. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The business had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $10.14 billion. During the same period in the previous year, the firm earned $2.11 earnings per share. The firm’s quarterly revenue was up 16.0% compared to the same quarter last year. As a group, analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current year.

Analysts Set New Price Targets

NFLX has been the subject of a number of recent analyst reports. Argus raised their price objective on shares of Netflix from $840.00 to $1,040.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Moffett Nathanson upgraded Netflix from a “neutral” rating to a “buy” rating and increased their target price for the company from $850.00 to $1,100.00 in a report on Monday, March 17th. Morgan Stanley lifted their price target on Netflix from $1,050.00 to $1,150.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Seaport Res Ptn raised Netflix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 15th. Finally, Bank of America lifted their target price on Netflix from $1,000.00 to $1,175.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Ten analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,021.02.

Insider Activity

In related news, Director Ann Mather sold 2,682 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $973.00, for a total value of $2,609,586.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Jeffrey William Karbowski sold 480 shares of Netflix stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $978.18, for a total value of $469,526.40. The disclosure for this sale can be found here. Insiders sold a total of 288,583 shares of company stock valued at $279,611,567 in the last ninety days. 1.76% of the stock is owned by insiders.

Netflix Company 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.