Netflix, Inc. (NASDAQ:NFLX) Position Trimmed by Livingston Group Asset Management CO operating as Southport Capital Management

Livingston Group Asset Management CO operating as Southport Capital Management trimmed its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 17.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,682 shares of the Internet television network’s stock after selling 362 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management’s holdings in Netflix were worth $1,027,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Netflix by 0.3% during the second quarter. Vanguard Group Inc. now owns 33,372,371 shares of the Internet television network’s stock worth $17,627,620,000 after buying an additional 113,836 shares in the last quarter. Capital International Investors lifted its position in shares of Netflix by 13.7% in the 2nd quarter. Capital International Investors now owns 19,206,004 shares of the Internet television network’s stock valued at $10,144,956,000 after acquiring an additional 2,319,459 shares in the last quarter. State Street Corp lifted its position in shares of Netflix by 1.7% in the 2nd quarter. State Street Corp now owns 16,112,594 shares of the Internet television network’s stock valued at $8,510,833,000 after acquiring an additional 269,856 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Netflix by 1.8% in the 2nd quarter. Geode Capital Management LLC now owns 6,874,069 shares of the Internet television network’s stock valued at $3,619,475,000 after acquiring an additional 121,850 shares in the last quarter. Finally, Magellan Asset Management Ltd lifted its position in shares of Netflix by 16.5% in the 2nd quarter. Magellan Asset Management Ltd now owns 6,008,063 shares of the Internet television network’s stock valued at $3,173,519,000 after acquiring an additional 850,245 shares in the last quarter. Hedge funds and other institutional investors own 79.47% of the company’s stock.

In other news, CEO Theodore A. Sarandos sold 69,707 shares of the firm’s stock in a transaction dated Monday, October 4th. The shares were sold at an average price of $625.00, for a total transaction of $43,566,875.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ann Mather sold 809 shares of the firm’s stock in a transaction dated Tuesday, September 7th. The stock was sold at an average price of $600.00, for a total transaction of $485,400.00. The disclosure for this sale can be found here. Insiders sold a total of 132,820 shares of company stock worth $84,175,491 over the last 90 days. Company insiders own 3.40% of the company’s stock.

Several equities research analysts recently commented on the stock. The Goldman Sachs Group set a $595.00 price target on shares of Netflix in a research report on Wednesday, November 17th. Loop Capital upped their price target on shares of Netflix from $650.00 to $700.00 and gave the company a “buy” rating in a research report on Monday, October 18th. Morgan Stanley upped their price target on shares of Netflix from $650.00 to $675.00 and gave the company an “overweight” rating in a research report on Friday, October 15th. Barclays upped their price target on shares of Netflix from $625.00 to $675.00 and gave the company an “overweight” rating in a research report on Wednesday, October 20th. Finally, KeyCorp increased their target price on shares of Netflix from $690.00 to $725.00 and gave the stock an “overweight” rating in a research report on Monday, November 15th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and thirty have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $667.70.

NASDAQ:NFLX traded up $4.23 during midday trading on Thursday, reaching $658.29. The stock had a trading volume of 1,866,081 shares, compared to its average volume of 4,033,469. Netflix, Inc. has a 1-year low of $478.54 and a 1-year high of $700.99. The firm’s fifty day simple moving average is $640.39 and its 200-day simple moving average is $565.57. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.17 and a quick ratio of 1.17. The stock has a market capitalization of $291.59 billion, a P/E ratio of 59.31, a PEG ratio of 2.02 and a beta of 0.81.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Monday, October 18th. The Internet television network reported $3.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.56 by $0.63. The company had revenue of $7.48 billion for the quarter, compared to analyst estimates of $7.48 billion. Netflix had a net margin of 17.64% and a return on equity of 38.03%. The business’s quarterly revenue was up 16.3% on a year-over-year basis. During the same period last year, the business posted $1.74 EPS. On average, equities research analysts anticipate that Netflix, Inc. will post 10.62 earnings per share for the current fiscal year.

Netflix Profile

Netflix, Inc operates as a streaming entertainment service company. The firm provides subscription service streaming movies and television episodes over the Internet and sending DVDs by mail. It operates through the following segments: Domestic Streaming, International Streaming and Domestic DVD. The Domestic Streaming segment derives revenues from monthly membership fees for services consisting of streaming content to its members in the United States.

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Institutional Ownership by Quarter for Netflix (NASDAQ:NFLX)

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