Maverick Capital Ltd. Reduces Position in Netflix, Inc. (NASDAQ:NFLX)

Maverick Capital Ltd. lowered its position in Netflix, Inc. (NASDAQ:NFLX) by 85.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 569 shares of the Internet television network’s stock after selling 3,394 shares during the quarter. Maverick Capital Ltd.’s holdings in Netflix were worth $384,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of NFLX. MBB Public Markets I LLC boosted its stake in Netflix by 4,627.3% during the 2nd quarter. MBB Public Markets I LLC now owns 30,822 shares of the Internet television network’s stock worth $20,801,000 after purchasing an additional 30,170 shares during the period. Daymark Wealth Partners LLC boosted its stake in shares of Netflix by 16.0% during the second quarter. Daymark Wealth Partners LLC now owns 2,156 shares of the Internet television network’s stock worth $1,455,000 after buying an additional 298 shares during the period. DE Burlo Group Inc. acquired a new stake in shares of Netflix during the second quarter worth about $220,000. Decatur Capital Management Inc. grew its holdings in shares of Netflix by 2.5% during the second quarter. Decatur Capital Management Inc. now owns 4,895 shares of the Internet television network’s stock worth $3,304,000 after buying an additional 120 shares during the last quarter. Finally, DigitalBridge Group Inc. increased its position in Netflix by 35.5% in the 2nd quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock valued at $24,338,000 after acquiring an additional 9,451 shares during the period. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Stock Down 0.6 %

NFLX opened at $707.35 on Friday. Netflix, Inc. has a 12 month low of $344.73 and a 12 month high of $725.26. The business has a 50-day moving average of $669.62 and a two-hundred day moving average of $644.66. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market capitalization of $304.87 billion, a price-to-earnings ratio of 49.09, a price-to-earnings-growth ratio of 1.44 and a beta of 1.26.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.74 by $0.14. The firm had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $9.53 billion. Netflix had a net margin of 19.54% and a return on equity of 32.93%. Netflix’s revenue was up 16.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.29 earnings per share. On average, research analysts expect that Netflix, Inc. will post 19.08 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on NFLX. TD Cowen lifted their target price on Netflix from $725.00 to $775.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Argus boosted their price objective on shares of Netflix from $660.00 to $767.00 and gave the company a “buy” rating in a research note on Tuesday, July 2nd. UBS Group upped their price objective on shares of Netflix from $685.00 to $750.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Rosenblatt Securities reiterated a “neutral” rating and set a $635.00 price target on shares of Netflix in a research note on Friday, September 20th. Finally, Citigroup increased their price target on shares of Netflix from $660.00 to $675.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $685.29.

Insider Transactions at Netflix

In related news, Director Jay C. Hoag sold 43,750 shares of Netflix stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $687.07, for a total value of $30,059,312.50. Following the transaction, the director now owns 95,040 shares in the company, valued at $65,299,132.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Jay C. Hoag sold 43,750 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $687.07, for a total value of $30,059,312.50. Following the transaction, the director now directly owns 95,040 shares in the company, valued at approximately $65,299,132.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Leslie J. Kilgore sold 402 shares of the business’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $725.00, for a total value of $291,450.00. Following the sale, the director now owns 35,262 shares of the company’s stock, valued at approximately $25,564,950. The disclosure for this sale can be found here. Insiders sold a total of 202,020 shares of company stock worth $133,334,342 in the last ninety days. Insiders own 1.76% of the company’s stock.

Netflix Company Profile

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and games across various genres and languages. The company also provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, TV set-top boxes, and mobile devices.