Vident Advisory LLC Sells 1,222 Shares of Netflix, Inc. (NASDAQ:NFLX)

Vident Advisory LLC lowered its stake in Netflix, Inc. (NASDAQ:NFLX) by 2.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 56,631 shares of the Internet television network’s stock after selling 1,222 shares during the period. Netflix accounts for approximately 0.9% of Vident Advisory LLC’s holdings, making the stock its 17th biggest holding. Vident Advisory LLC’s holdings in Netflix were worth $50,477,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of NFLX. Norges Bank purchased a new position in shares of Netflix in the 4th quarter worth about $5,019,087,000. Proficio Capital Partners LLC raised its position in Netflix by 123,836.7% in the 4th quarter. Proficio Capital Partners LLC now owns 1,925,977 shares of the Internet television network’s stock worth $1,716,662,000 after buying an additional 1,924,423 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Netflix by 59.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,301,098 shares of the Internet television network’s stock valued at $2,051,016,000 after purchasing an additional 856,307 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of Netflix by 318.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 976,924 shares of the Internet television network’s stock valued at $870,752,000 after purchasing an additional 743,724 shares during the period. Finally, Northern Trust Corp grew its stake in shares of Netflix by 14.3% during the 4th quarter. Northern Trust Corp now owns 4,574,006 shares of the Internet television network’s stock valued at $4,076,903,000 after purchasing an additional 570,674 shares during the period. Institutional investors own 80.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on NFLX shares. Bank of America upped their price target on Netflix from $1,000.00 to $1,175.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. KeyCorp increased their target price on Netflix from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a research note on Monday, April 21st. Citigroup restated a “neutral” rating on shares of Netflix in a research note on Monday, May 5th. UBS Group dropped their price objective on Netflix from $1,150.00 to $1,140.00 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. Finally, The Goldman Sachs Group raised their price objective on Netflix from $850.00 to $960.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,100.67.

Insider Activity

In other Netflix news, CFO Spencer Adam Neumann sold 2,601 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $982.05, for a total transaction of $2,554,312.05. Following the sale, the chief financial officer now owns 3,691 shares in the company, valued at $3,624,746.55. This represents a 41.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Jeffrey William Karbowski sold 160 shares of the company’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $1,000.00, for a total value of $160,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 132,868 shares of company stock valued at $138,483,256 in the last quarter. Insiders own 1.76% of the company’s stock.

Netflix Stock Performance

Shares of NASDAQ:NFLX opened at $1,191.53 on Monday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. The business’s 50 day moving average price is $1,009.34 and its 200-day moving average price is $948.26. The firm has a market capitalization of $507.08 billion, a PE ratio of 60.09, a P/E/G ratio of 2.12 and a beta of 1.58. Netflix, Inc. has a 1 year low of $587.04 and a 1 year high of $1,196.50.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, topping analysts’ consensus estimates of $5.74 by $0.87. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The company had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.51 billion. During the same quarter in the previous year, the company posted $8.28 earnings per share. As a group, equities research analysts expect that Netflix, Inc. will post 24.58 earnings per share 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.