Tremblant Capital Group Decreases Stake in Netflix, Inc. (NFLX)

Tremblant Capital Group lessened its position in Netflix, Inc. (NASDAQ:NFLX) by 47.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 212,489 shares of the Internet television network’s stock after selling 195,195 shares during the quarter. Netflix comprises 1.7% of Tremblant Capital Group’s holdings, making the stock its 17th largest position. Tremblant Capital Group’s holdings in Netflix were worth $38,535,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NFLX. Almanack Investment Partners LLC. purchased a new stake in Netflix in the second quarter valued at $101,000. Aviance Capital Management LLC purchased a new stake in Netflix in the second quarter valued at $137,000. Captrust Financial Advisors purchased a new stake in Netflix in the second quarter valued at $139,000. Grove Bank & Trust raised its position in Netflix by 249.6% in the third quarter. Grove Bank & Trust now owns 958 shares of the Internet television network’s stock valued at $174,000 after purchasing an additional 684 shares during the period. Finally, Harfst & Associates Inc. raised its position in Netflix by 36.8% in the second quarter. Harfst & Associates Inc. now owns 1,015 shares of the Internet television network’s stock valued at $151,000 after purchasing an additional 273 shares during the period. Institutional investors and hedge funds own 83.38% of the company’s stock.

Netflix, Inc. (NFLX) opened at $185.20 on Friday. The stock has a market capitalization of $80,185.08, a PE ratio of 187.17, a PEG ratio of 5.51 and a beta of 1.33. Netflix, Inc. has a 1 year low of $121.73 and a 1 year high of $204.38. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.47.

Netflix (NASDAQ:NFLX) last posted its earnings results on Monday, October 16th. The Internet television network reported $0.29 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.03). Netflix had a net margin of 4.04% and a return on equity of 14.56%. The firm had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.97 billion. During the same period in the previous year, the firm posted $0.12 earnings per share. The firm’s revenue for the quarter was up 30.3% on a year-over-year basis. equities research analysts predict that Netflix, Inc. will post 1.26 earnings per share for the current year.

A number of equities research analysts have commented on the company. Stifel Nicolaus lifted their target price on Netflix from $200.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, October 12th. J P Morgan Chase & Co restated an “overweight” rating and issued a $225.00 target price (up previously from $210.00) on shares of Netflix in a research report on Friday, October 13th. Vetr upgraded Netflix from a “hold” rating to a “buy” rating and set a $210.19 target price on the stock in a research report on Thursday, October 19th. BidaskClub downgraded Netflix from a “buy” rating to a “hold” rating in a research report on Saturday, December 2nd. Finally, CIBC restated an “outperform” rating and issued a $215.00 target price (up previously from $200.00) on shares of Netflix in a research report on Friday, October 6th. One investment analyst has rated the stock with a sell rating, eighteen have issued a hold rating, thirty-two have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $209.65.

In other news, Director Richard N. Barton sold 350 shares of the business’s stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $185.71, for a total value of $64,998.50. Following the completion of the sale, the director now directly owns 7,171 shares of the company’s stock, valued at approximately $1,331,726.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard N. Barton sold 700 shares of the business’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $197.38, for a total value of $138,166.00. Following the completion of the sale, the director now directly owns 7,362 shares of the company’s stock, valued at $1,453,111.56. The disclosure for this sale can be found here. Insiders sold a total of 324,285 shares of company stock valued at $62,630,811 over the last three months. Company insiders own 4.90% of the company’s stock.

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Netflix Profile

Netflix, Inc is a provider an Internet television network. The Company operates through three segments: Domestic streaming, International streaming and Domestic DVD. The Domestic streaming segment includes services that streams content to its members in the United States. The International streaming segment includes services that streams content to its members outside the United States.

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Institutional Ownership by Quarter for Netflix (NASDAQ:NFLX)

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