Brown Brothers Harriman & Co. Trims Position in Netflix, Inc. (NASDAQ:NFLX)

Brown Brothers Harriman & Co. cut its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 10.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,947 shares of the Internet television network’s stock after selling 345 shares during the period. Brown Brothers Harriman & Co.’s holdings in Netflix were worth $1,557,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in NFLX. Schmidt P J Investment Management Inc. increased its stake in Netflix by 3.1% during the 2nd quarter. Schmidt P J Investment Management Inc. now owns 656 shares of the Internet television network’s stock valued at $338,000 after purchasing an additional 20 shares in the last quarter. Parcion Private Wealth LLC grew its holdings in shares of Netflix by 1.3% during the second quarter. Parcion Private Wealth LLC now owns 1,609 shares of the Internet television network’s stock valued at $850,000 after buying an additional 20 shares during the last quarter. LexAurum Advisors LLC increased its position in shares of Netflix by 2.8% in the 2nd quarter. LexAurum Advisors LLC now owns 732 shares of the Internet television network’s stock valued at $387,000 after acquiring an additional 20 shares during the period. Purus Wealth Management LLC raised its stake in Netflix by 2.8% in the 2nd quarter. Purus Wealth Management LLC now owns 724 shares of the Internet television network’s stock worth $382,000 after acquiring an additional 20 shares during the last quarter. Finally, Investors Research Corp lifted its position in Netflix by 3.4% during the 2nd quarter. Investors Research Corp now owns 638 shares of the Internet television network’s stock worth $337,000 after acquiring an additional 21 shares during the period. Hedge funds and other institutional investors own 79.51% of the company’s stock.

A number of research analysts have recently weighed in on the company. Atlantic Securities increased their price objective on Netflix from $690.00 to $780.00 and gave the company an “overweight” rating in a report on Tuesday, September 7th. Barclays set a $625.00 price target on shares of Netflix in a research report on Wednesday, September 8th. Credit Suisse Group lifted their price objective on shares of Netflix from $643.00 to $740.00 and gave the company an “outperform” rating in a research note on Monday. Robert W. Baird increased their price objective on shares of Netflix from $650.00 to $680.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, KeyCorp raised their target price on shares of Netflix from $645.00 to $670.00 and gave the stock an “overweight” rating in a report on Monday. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirty have issued a buy rating to the company. According to MarketBeat, Netflix presently has a consensus rating of “Buy” and an average price target of $637.32.

In other news, CEO Theodore A. Sarandos sold 69,707 shares of Netflix stock in a transaction that occurred on 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 document filed with the SEC, which is accessible through this hyperlink. Also, Director Jay C. Hoag sold 939 shares of the firm’s stock in a transaction on Tuesday, August 3rd. The stock was sold at an average price of $510.16, for a total value of $479,040.24. The disclosure for this sale can be found here. In the last quarter, insiders have sold 111,927 shares of company stock worth $68,562,364. Insiders own 3.40% of the company’s stock.

NFLX stock opened at $629.76 on Thursday. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.08. The firm has a 50-day moving average of $576.04 and a two-hundred day moving average of $536.89. Netflix, Inc. has a 12 month low of $463.41 and a 12 month high of $646.84. The company has a market cap of $278.73 billion, a price-to-earnings ratio of 65.26, a PEG ratio of 1.88 and a beta of 0.76.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Monday, July 19th. The Internet television network reported $2.97 EPS for the quarter, missing the consensus estimate of $3.16 by ($0.19). The company had revenue of $7.34 billion during the quarter, compared to analyst estimates of $7.32 billion. Netflix had a net margin of 15.92% and a return on equity of 36.49%. Netflix’s revenue for the quarter was up 19.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.59 EPS. As a group, equities analysts forecast that Netflix, Inc. will post 10.38 earnings per share for the current 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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