Harris Associates L P Sells 1,131,554 Shares of Netflix, Inc. (NASDAQ:NFLX)

Harris Associates L P lowered its stake in Netflix, Inc. (NASDAQ:NFLX) by 45.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,357,758 shares of the Internet television network’s stock after selling 1,131,554 shares during the period. Harris Associates L P owned approximately 0.31% of Netflix worth $469,079,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Fairfield Bush & CO. lifted its position in Netflix by 26.5% in the first quarter. Fairfield Bush & CO. now owns 2,446 shares of the Internet television network’s stock valued at $916,000 after purchasing an additional 512 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Netflix by 21.3% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 480,044 shares of the Internet television network’s stock valued at $179,820,000 after buying an additional 84,179 shares during the last quarter. Sequoia Financial Advisors LLC boosted its position in Netflix by 14.2% during the 1st quarter. Sequoia Financial Advisors LLC now owns 2,922 shares of the Internet television network’s stock valued at $1,094,000 after buying an additional 363 shares during the period. Candriam Luxembourg S.C.A. grew its holdings in Netflix by 6.9% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 36,336 shares of the Internet television network’s stock worth $13,610,000 after acquiring an additional 2,358 shares during the last quarter. Finally, Brown Brothers Harriman & Co. increased its position in shares of Netflix by 13.1% in the first quarter. Brown Brothers Harriman & Co. now owns 3,808 shares of the Internet television network’s stock valued at $1,426,000 after acquiring an additional 441 shares during the period. Institutional investors own 79.95% of the company’s stock.

Insider Activity at Netflix

In other Netflix news, CEO Theodore A. Sarandos sold 55,386 shares of Netflix stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $431.10, for a total value of $23,876,904.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Netflix news, CEO Theodore A. Sarandos sold 55,386 shares of the stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $431.10, for a total value of $23,876,904.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Timothy M. Haley sold 1,022 shares of the firm’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $450.19, for a total value of $460,094.18. The disclosure for this sale can be found here. Insiders have sold a total of 124,877 shares of company stock worth $54,326,139 over the last quarter. Company insiders own 2.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Wells Fargo & Company reiterated an “overweight” rating and set a $500.00 target price on shares of Netflix in a report on Thursday, July 20th. Needham & Company LLC reiterated a “hold” rating on shares of Netflix in a research report on Wednesday, July 26th. Barclays upped their target price on Netflix from $250.00 to $375.00 in a report on Wednesday, June 14th. Bank of America lifted their price target on shares of Netflix from $490.00 to $525.00 and gave the company a “buy” rating in a report on Thursday, July 20th. Finally, Truist Financial upped their price objective on shares of Netflix from $339.00 to $485.00 and gave the stock a “hold” rating in a report on Tuesday, August 29th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $432.91.

Netflix Stock Up 0.6 %

NFLX stock opened at $445.36 on Tuesday. The stock has a market capitalization of $197.36 billion, a P/E ratio of 47.43, a P/E/G ratio of 1.47 and a beta of 1.29. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.33 and a quick ratio of 1.33. Netflix, Inc. has a 1-year low of $211.73 and a 1-year high of $485.00. The business has a fifty day moving average price of $433.31 and a 200-day moving average price of $382.01.

Netflix (NASDAQ:NFLX) last issued its earnings results on Wednesday, July 19th. The Internet television network reported $3.29 earnings per share for the quarter, topping analysts’ consensus estimates of $2.85 by $0.44. The business had revenue of $8.19 billion during the quarter, compared to analyst estimates of $8.29 billion. Netflix had a return on equity of 19.76% and a net margin of 13.22%. Netflix’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.20 EPS. Equities analysts forecast that Netflix, Inc. will post 11.92 earnings per share for the current fiscal year.

About Netflix

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and mobile games across various genres and languages. The company provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, television set-top boxes, and mobile devices.