Davidson Investment Advisors Sells 421 Shares of Netflix, Inc. (NASDAQ:NFLX)

Davidson Investment Advisors trimmed its stake in Netflix, Inc. (NASDAQ:NFLX) by 0.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 47,028 shares of the Internet television network’s stock after selling 421 shares during the period. Netflix accounts for 1.3% of Davidson Investment Advisors’ portfolio, making the stock its 17th largest position. Davidson Investment Advisors’ holdings in Netflix were worth $20,715,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in the stock. MetLife Investment Management LLC grew its stake in Netflix by 6.8% during the 2nd quarter. MetLife Investment Management LLC now owns 130,991 shares of the Internet television network’s stock worth $57,700,000 after buying an additional 8,328 shares during the last quarter. Osaic Holdings Inc. grew its stake in Netflix by 196.5% during the 2nd quarter. Osaic Holdings Inc. now owns 486,354 shares of the Internet television network’s stock worth $73,958,000 after buying an additional 322,301 shares during the last quarter. Bessemer Group Inc. grew its stake in Netflix by 2.9% during the 2nd quarter. Bessemer Group Inc. now owns 247,073 shares of the Internet television network’s stock worth $108,834,000 after buying an additional 6,848 shares during the last quarter. RWQ Financial Management Services Inc. grew its stake in Netflix by 102.4% during the 2nd quarter. RWQ Financial Management Services Inc. now owns 12,450 shares of the Internet television network’s stock worth $5,484,000 after buying an additional 6,300 shares during the last quarter. Finally, King Luther Capital Management Corp grew its stake in Netflix by 6.0% during the 2nd quarter. King Luther Capital Management Corp now owns 2,950 shares of the Internet television network’s stock worth $1,299,000 after buying an additional 166 shares during the last quarter. 79.95% of the stock is owned by institutional investors.

Netflix Stock Performance

NFLX traded up $9.87 during trading on Monday, reaching $475.78. The company’s stock had a trading volume of 1,862,901 shares, compared to its average volume of 6,715,546. Netflix, Inc. has a 52-week low of $273.41 and a 52-week high of $485.00. The company’s fifty day moving average price is $402.61 and its 200-day moving average price is $409.41. The company has a market capitalization of $208.24 billion, a price-to-earnings ratio of 47.04, a price-to-earnings-growth ratio of 1.81 and a beta of 1.24. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.29 and a current ratio of 1.29.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Wednesday, October 18th. The Internet television network reported $3.73 earnings per share for the quarter, beating analysts’ consensus estimates of $3.49 by $0.24. Netflix had a return on equity of 20.68% and a net margin of 13.82%. The company had revenue of $8.54 billion for the quarter, compared to analyst estimates of $8.54 billion. During the same quarter in the previous year, the company earned $3.10 EPS. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, equities analysts forecast that Netflix, Inc. will post 12.09 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Richard N. Barton sold 500 shares of Netflix stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $443.07, for a total transaction of $221,535.00. Following the completion of the sale, the director now directly owns 152 shares in the company, valued at approximately $67,346.64. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Richard N. Barton sold 500 shares of Netflix stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $443.07, for a total transaction of $221,535.00. Following the completion of the sale, the director now directly owns 152 shares in the company, valued at approximately $67,346.64. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Reed Hastings sold 17,717 shares of Netflix stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $380.20, for a total value of $6,736,003.40. The disclosure for this sale can be found here. In the last three months, insiders sold 134,563 shares of company stock worth $57,388,283. Company insiders own 2.45% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. KeyCorp upgraded Netflix from a “sector weight” rating to an “overweight” rating and set a $510.00 target price on the stock in a research note on Thursday, October 19th. Guggenheim reiterated a “buy” rating and set a $460.00 price target on shares of Netflix in a research note on Thursday, October 19th. TD Cowen dropped their price target on Netflix from $515.00 to $500.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 11th. Loop Capital upgraded Netflix from a “hold” rating to a “buy” rating and boosted their price target for the company from $425.00 to $500.00 in a research note on Friday, August 25th. Finally, Wedbush reiterated an “outperform” rating and set a $525.00 price target on shares of Netflix in a research note on Thursday, October 19th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat, Netflix has an average rating of “Moderate Buy” and a consensus target price of $441.20.

Netflix Profile

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.