British Columbia Investment Management Corp Reduces Stake in Netflix, Inc.

British Columbia Investment Management Corp has reduced its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 13.3% during the third quarter, as disclosed in their recent filing with the Securities and Exchange Commission (SEC). After this reduction, the fund now holds 71,898 shares of the popular Internet television provider, having sold 11,033 shares in the quarter. As of the latest SEC filing, the value of British Columbia Investment Management Corp's holdings in Netflix amounts to approximately $50,995,000.

Changes in Institutional Holdings

Several other hedge funds and institutional investors have also adjusted their positions in Netflix recently. For instance, Denver PWM LLC took a new position in Netflix during the second quarter valued at about $25,000. Similarly, RPg Family Wealth Advisory LLC acquired shares worth $25,000 in the third quarter. Notably, Proffitt & Goodson Inc. increased its holdings by an impressive 380.0% in the second quarter, now owning 48 shares worth $32,000 after acquiring an additional 38 shares. E Fund Management Hong Kong Co. Ltd. also significantly boosted its stake by 700.0% in the third quarter, currently holding 48 shares valued at $34,000. Additionally, AlphaMark Advisors LLC expanded its holdings by 642.9% during the second quarter, ultimately owning 52 shares worth $35,000 after purchasing 45 more shares. Overall, institutional investors and hedge funds now own approximately 80.93% of Netflix's stock.

Insider Transactions

In other notable Netflix news, Chairman Reed Hastings sold 25,074 shares of his stake on September 3rd for an average price of $680.92 per share, totaling about $17,073,388.08. Following the sale, he holds only 85 shares in the company, which are valued at $57,878.20—representing a significant 99.66% decrease in his ownership. This transaction was reported to the SEC. Another insider, David A. Hyman, sold 267 shares on November 5th for an average price of $765.67, amounting to approximately $204,433.89. Post-transaction, Hyman now owns 31,610 shares valued around $24,202,828.70, reflecting a slight 0.84% decrease. Over the past 90 days, insiders have sold 185,866 shares of Netflix, valued at $133,393,921, with current insider ownership of about 1.76%.

Netflix Stock Performance

The shares of Netflix opened at $886.81 recently, showcasing a market cap of $379.07 billion, a price-to-earnings ratio of 50.19, and a PEG ratio of 1.69, with a beta of 1.25. The stock has seen a low of $445.73 and a high of $908.00 over the past year. Presently, it has a current ratio of 1.13 and a quick ratio of 1.13, alongside a debt-to-equity ratio of 0.62. The stock’s 50-day moving average stands at $773.01, while its 200-day moving average is $699.54.

Analysts' Forecasts

Recent research updates highlight positive sentiments towards Netflix stocks. Needham & Company LLC raised their price target from $700.00 to $800.00, maintaining a 'buy' rating. Pivotal Research increased their price target from $925.00 to $1,100.00, also endorsing a 'buy' rating. Macquarie has reiterated an 'outperform' rating at a price objective of $795.00. Bank of America adjusted their target from $800.00 to $1,000.00. Moreover, Evercore ISI upped its target from $750.00 to $775.00, issuing an 'outperform' rating. Research indicates that while two analysts have rated the stock as a sell, nine suggest holding it, and twenty-five recommend buying it. The overall average rating is a 'Moderate Buy' with an average price target of $764.82.

About Netflix, Inc.

Netflix, Inc. offers a wide range of entertainment services, including TV series, documentaries, and feature films, across various genres and languages. Members can stream content via numerous internet-connected devices such as TVs, digital video players, and mobile devices.

Netflix, Investment, Stock