Hartford Financial Management Inc. Decreases Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

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Hartford Financial Management Inc. reduced its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 34.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 666 shares of the Internet television network’s stock after selling 354 shares during the period. Hartford Financial Management Inc.’s holdings in Netflix were worth $333,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in NFLX. Capital International Investors lifted its position in shares of Netflix by 27.3% during the 1st quarter. Capital International Investors now owns 13,695,433 shares of the Internet television network’s stock worth $5,142,631,000 after purchasing an additional 2,936,451 shares during the last quarter. Advisor Group Holdings Inc. acquired a new stake in Netflix during the 1st quarter worth $42,595,000. BlackRock Inc. raised its stake in Netflix by 2.8% during the 2nd quarter. BlackRock Inc. now owns 29,171,135 shares of the Internet television network’s stock worth $13,274,032,000 after acquiring an additional 797,481 shares in the last quarter. Morgan Stanley raised its stake in Netflix by 39.7% during the 1st quarter. Morgan Stanley now owns 2,685,577 shares of the Internet television network’s stock worth $1,008,435,000 after acquiring an additional 763,798 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Netflix by 24.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,873,203 shares of the Internet television network’s stock worth $1,762,464,000 after acquiring an additional 759,686 shares in the last quarter. 80.63% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ NFLX traded down $11.15 on Friday, hitting $530.79. The company’s stock had a trading volume of 6,347,363 shares, compared to its average volume of 7,479,434. Netflix, Inc. has a 12-month low of $265.80 and a 12-month high of $575.37. The company has a market capitalization of $234.09 billion, a price-to-earnings ratio of 89.51, a price-to-earnings-growth ratio of 2.87 and a beta of 0.95. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a 50 day moving average of $507.55 and a 200-day moving average of $463.66.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, July 16th. The Internet television network reported $1.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.81 by ($0.22). Netflix had a net margin of 11.85% and a return on equity of 33.32%. The business had revenue of $6.15 billion during the quarter, compared to analysts’ expectations of $6.08 billion. During the same period last year, the company earned $0.60 EPS. Sell-side analysts expect that Netflix, Inc. will post 6.27 EPS for the current fiscal year.

Several equities research analysts recently commented on the stock. Sanford C. Bernstein reiterated a “buy” rating and set a $573.00 price target on shares of Netflix in a research note on Wednesday, August 19th. Canaccord Genuity lifted their price target on shares of Netflix from $550.00 to $630.00 and gave the stock a “buy” rating in a research note on Thursday. Goldman Sachs Group lifted their price objective on shares of Netflix from $600.00 to $670.00 and gave the company a “buy” rating in a research note on Wednesday. BidaskClub lowered shares of Netflix from a “buy” rating to a “hold” rating in a research note on Wednesday, August 12th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Netflix from $500.00 to $525.00 and gave the company a “buy” rating in a research note on Friday, July 17th. Five investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty-seven have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $514.80.

In other news, General Counsel David A. Hyman sold 26,754 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $505.77, for a total value of $13,531,370.58. Following the completion of the transaction, the general counsel now owns 38,008 shares of the company’s stock, valued at $19,223,306.16. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Leslie J. Kilgore sold 1,481 shares of the business’s stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $485.57, for a total transaction of $719,129.17. Following the completion of the transaction, the director now directly owns 35,643 shares of the company’s stock, valued at approximately $17,307,171.51. The disclosure for this sale can be found here. Insiders sold 198,544 shares of company stock worth $97,503,985 in the last ninety days. Insiders own 3.40% of the company’s stock.

About Netflix

Netflix, Inc provides subscription streaming entertainment service. 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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Institutional Ownership by Quarter for Netflix (NASDAQ:NFLX)

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