Netflix, Inc. $NFLX Shares Sold by Lockheed Martin Investment Management Co.

Lockheed Martin Investment Management Co. cut its stake in Netflix, Inc. (NASDAQ:NFLX) by 31.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,160 shares of the Internet television network’s stock after selling 17,800 shares during the quarter. Lockheed Martin Investment Management Co.’s holdings in Netflix were worth $2,725,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in shares of Netflix in the second quarter valued at about $24,902,221,000. Bank of New York Mellon Corp purchased a new stake in shares of Netflix during the 2nd quarter valued at about $1,906,482,000. Legal & General Group Plc acquired a new position in Netflix during the 2nd quarter worth approximately $1,886,526,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Netflix during the 2nd quarter worth approximately $1,481,303,000. Finally, Assenagon Asset Management S.A. lifted its position in Netflix by 194.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 16,111,438 shares of the Internet television network’s stock worth $1,121,034,000 after acquiring an additional 10,647,803 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Analyst Ratings Changes

NFLX has been the subject of a number of analyst reports. President Capital decreased their price target on Netflix from $134.00 to $83.00 and set a “buy” rating for the company in a report on Monday, July 20th. Rosenblatt Securities set a $71.00 price objective on shares of Netflix and gave the company a “neutral” rating in a research note on Wednesday, October 21st. Argus set a $95.00 target price on shares of Netflix and gave the stock a “buy” rating in a research report on Thursday, October 22nd. Wells Fargo & Company downgraded shares of Netflix from a “neutral” rating to an “underweight” rating and decreased their target price for the company from $80.00 to $57.00 in a research note on Friday, September 18th. Finally, Citigroup reaffirmed a “buy” rating and set a $85.00 price target (down from $100.00) on shares of Netflix in a report on Wednesday, October 21st. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, seventeen have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $89.14.

Insider Activity

In other Netflix news, CFO Spencer Neumann sold 9,253 shares of the stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $66.15, for a total transaction of $612,085.95. Following the sale, the chief financial officer directly owned 73,787 shares of the company’s stock, valued at approximately $4,881,010.05. This represents a 11.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Richard N. Barton sold 720 shares of the stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $75.27, for a total transaction of $54,194.40. Following the sale, the director directly owned 2,460 shares in the company, valued at $185,164.20. This trade represents a 22.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 61,712 shares of company stock valued at $4,051,144 over the last three months. 1.24% of the stock is currently owned by company insiders.

Netflix Trading Up 0.9%

NASDAQ:NFLX opened at $63.95 on Tuesday. The company has a market cap of $262.60 billion, a PE ratio of 18.48, a P/E/G ratio of 0.97 and a beta of 1.62. The business’s 50 day moving average is $70.68 and its two-hundred day moving average is $80.86. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.43. Netflix, Inc. has a 52 week low of $61.39 and a 52 week high of $116.73.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Tuesday, October 20th. The Internet television network reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.05. The business had revenue of $12.87 billion during the quarter, compared to the consensus estimate of $12.87 billion. Netflix had a return on equity of 42.69% and a net margin of 29.69%. The business’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.59 EPS. On average, analysts predict that Netflix, Inc. will post 3.59 EPS for the current year.

About Netflix

Netflix, Inc is an entertainment company that offers subscription-based streaming of television series, films, documentaries and other programming. Its service also includes mobile games and, in some markets, advertising-supported viewing plans. Netflix produces and licenses content, including titles made under its Netflix brand.

Founded in 1997 by Reed Hastings and Marc Randolph as a DVD-by-mail rental business, the company launched its streaming service in 2007 and later expanded into original programming.