Gateway Investment Advisers LLC Decreases Holdings in Netflix, Inc. (NFLX)
Gateway Investment Advisers LLC cut its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 4.2% in the first quarter, HoldingsChannel.com reports. The fund owned 229,228 shares of the Internet television network’s stock after selling 10,112 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Netflix were worth $81,734,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in NFLX. Bank of New York Mellon Corp boosted its position in Netflix by 2.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,910,792 shares of the Internet television network’s stock worth $1,463,144,000 after acquiring an additional 111,054 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of Netflix during the 3rd quarter valued at about $685,000. Fifth Third Bancorp lifted its holdings in shares of Netflix by 41.1% during the 3rd quarter. Fifth Third Bancorp now owns 26,659 shares of the Internet television network’s stock valued at $9,974,000 after buying an additional 7,772 shares during the last quarter. Paloma Partners Management Co lifted its holdings in shares of Netflix by 494.5% during the 3rd quarter. Paloma Partners Management Co now owns 6,539 shares of the Internet television network’s stock valued at $2,447,000 after buying an additional 5,439 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its holdings in shares of Netflix by 32.8% during the 3rd quarter. Pacer Advisors Inc. now owns 45,807 shares of the Internet television network’s stock valued at $17,138,000 after buying an additional 11,319 shares during the last quarter. Hedge funds and other institutional investors own 76.10% of the company’s stock.
Shares of Netflix stock traded down $0.96 on Wednesday, hitting $363.75. 117,839 shares of the company’s stock were exchanged, compared to its average volume of 9,350,922. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.49 and a quick ratio of 1.49. Netflix, Inc. has a 1 year low of $231.23 and a 1 year high of $423.21. The stock has a market capitalization of $159.57 billion, a PE ratio of 135.64, a P/E/G ratio of 3.06 and a beta of 1.36.
Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. reduced their price target on Netflix from $425.00 to $425.00 and set an “overweight” rating for the company in a report on Monday, January 14th. Nomura reiterated a “neutral” rating and set a $320.00 price target (up from $300.00) on shares of Netflix in a report on Friday, January 18th. Argus reiterated a “hold” rating on shares of Netflix in a report on Tuesday, January 22nd. UBS Group upgraded Netflix from a “neutral” rating to a “buy” rating in a report on Thursday, January 10th. Finally, Wedbush lifted their price target on Netflix from $150.00 to $165.00 and gave the company an “underperform” rating in a report on Friday, January 18th. Seven equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $375.71.
In other news, Director Anne M. Sweeney sold 7,607 shares of the firm’s stock in a transaction dated Tuesday, February 12th. The shares were sold at an average price of $360.00, for a total value of $2,738,520.00. Following the transaction, the director now directly owns 444 shares of the company’s stock, valued at $159,840. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Reed Hastings sold 52,458 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $367.25, for a total transaction of $19,265,200.50. Following the completion of the transaction, the chief executive officer now directly owns 52,458 shares in the company, valued at $19,265,200.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 186,950 shares of company stock worth $65,620,477. Insiders own 4.29% of the company’s stock.
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Netflix Company Profile
Netflix, Inc provides Internet entertainment services. The company operates in three segments: Domestic streaming, International streaming, and Domestic DVD. It offers TV series, documentaries, and feature films across various genres and languages. The company provides members the ability to receive streaming content through a host of Internet-connected screens, including TVs, digital video players, television set-top boxes, and mobile devices.
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