Investor Market Move: Coatue Management LLC Decreased Stake in Netflix INC (NFLX) by $21.13 Million

Investor Market Move: Coatue Management LLC Decreased Stake in Netflix INC (NFLX) by $21.13 Million

Philippe Laffont decreased its stake in Netflix Inc (NFLX) by 4.35% based on its latest 2016Q3 regulatory filing with the SEC. Coatue Management Llc sold 215,645 shares as the company’s stock rose 1.94% with the market. The hedge fund run by Philippe Laffont held 4.75M shares of the consumer services company at the end of 2016Q3, valued at $467.64 million, down from 4.96 million at the end of the previous reported quarter. Coatue Management Llc who had been investing in Netflix Inc for a number of months, seems to be less bullish one the $55.40 billion market cap company. The stock is up 0.19% or $0.25 hitting $130.14, despite the negative news. About 3.93 million shares traded hands. Netflix, Inc. (NASDAQ:NFLX) has risen 30.03% since June 7, 2016 and is uptrending. It has outperformed by 22.61% the S&P500.

Coatue Management Llc, which manages about $14.38B and $8.15B US Long portfolio, upped its stake in Alphabet Inc by 58,474 shares to 585,709 shares, valued at $455.27 million in 2016Q3, according to the filing. It also increased its holding in Hain Celestial Group Inc (NASDAQ:HAIN) by 1.11M shares in the quarter, for a total of 2.15 million shares, and has risen its stake in Liberty Global Plc (NASDAQ:LBTYK).

Philippe Laffont graduated with his M.S. in Computer Science from MIT in 1989. Laffont worked with Julian Robertson’s Tiger Management before founding Coatue Management in 1999. Coatue is a tech-focused hedge fund specializing in long/short equity. Coatue Management Llc is a New York-based hedge fund that was founded by Philippe Laffont. It had more than $14.38 billion assets under management in June, 2014. Taken from Coatue Management latest Adv, the fund reported to have 73 full and part-time employees. Among which 27 performing investment advisory and research functions. The hedge fund had between 11-25 clients.

Insitutional Activity: The institutional sentiment decreased to 0.95 in Q3 2016. Its down 0.18, from 1.13 in 2016Q2. The ratio dropped, as 73 funds sold all NFLX shares owned while 221 reduced positions. 90 funds bought stakes while 188 increased positions. They now own 337.19 million shares or 1.19% more from 333.23 million shares in 2016Q2. Glenmede Trust Na last reported 0.02% of its portfolio in the stock. Rampart Inv Communications Llc holds 0.23% of its portfolio in Netflix, Inc. (NASDAQ:NFLX) for 6,176 shares. Wellington Gru Inc Ltd Liability Partnership has invested 0.29% of its portfolio in Netflix, Inc. (NASDAQ:NFLX). Credit Agricole S A accumulated 121,146 shares or 0.04% of the stock. Espalier Glob Mgmt Ltd has invested 3.19% of its portfolio in Netflix, Inc. (NASDAQ:NFLX). Commercial Bank Of Hawaii holds 0.02% of its portfolio in Netflix, Inc. (NASDAQ:NFLX) for 2,278 shares. Allianz Asset Mgmt Ag has invested 0.01% of its portfolio in Netflix, Inc. (NASDAQ:NFLX). Hartford Investment owns 102,913 shares or 0.2% of their US portfolio. Toronto Dominion Commercial Bank has invested 0.01% of its portfolio in Netflix, Inc. (NASDAQ:NFLX). First Republic Invest has 0.03% invested in the company for 33,375 shares. Sunbelt Securities owns 3,046 shares or 0.36% of their US portfolio. Dragoneer Invest Limited Liability Corp, a California-based fund reported 268,324 shares. American Insurance Com Tx accumulated 0.16% or 27,405 shares. Moreover, Private Advisor Group Inc Ltd Co has 0.21% invested in Netflix, Inc. (NASDAQ:NFLX) for 49,711 shares. Oakbrook Investments Ltd Liability Corp last reported 0.21% of its portfolio in the stock.

Insider Transactions: Since July 21, 2016, the stock had 2 buys, and 25 sales for $2.77 million net activity. 600,000 shares were bought by HOAG JAY C, worth $51.86 million. BARTON RICHARD N sold $140,000 worth of Netflix, Inc. (NASDAQ:NFLX) on Monday, October 3. HASTINGS REED sold 74,564 shares worth $8.80 million. BATTLE A GEORGE also sold $2.40 million worth of Netflix, Inc. (NASDAQ:NFLX) shares. HALEY TIMOTHY M also sold $2.99M worth of Netflix, Inc. (NASDAQ:NFLX) on Monday, October 31. 500 shares were sold by WELLS DAVID B, worth $60,000 on Wednesday, November 30. 91,966 shares were sold by SARANDOS THEODORE A, worth $10.73 million.

Analysts await Netflix, Inc. (NASDAQ:NFLX) to report earnings on January, 17. They expect $0.13 earnings per share, up 85.71% or $0.06 from last year’s $0.07 per share. NFLX’s profit will be $55.34M for 250.27 P/E if the $0.13 EPS becomes a reality. After $0.12 actual earnings per share reported by Netflix, Inc. for the previous quarter, Wall Street now forecasts 8.33% EPS growth.

More notable recent Netflix, Inc. (NASDAQ:NFLX) news were published by: Profitconfidential.com which released: “Netflix, Inc.: Why Netflix Stock (NFLX) Is Trading Near Record Highs” on January 11, 2017, also Fool.com with their article: “What to Watch When Netflix Inc. Reports Earnings” published on January 06, 2017, Valuewalk.com published: “Bulls, Bears Face Off On Netflix, Inc. Stock As Disney Buyout Rumor Rebooted” on January 11, 2017. More interesting news about Netflix, Inc. (NASDAQ:NFLX) were released by: Investorplace.com and their article: “Why Walt Disney Co (DIS) Should Buy Netflix, Inc. (NFLX) (And Why It Shouldn’t)” published on January 09, 2017 as well as Prnewswire.com‘s news article titled: “Love Alarm Set To Become Netflix First Korean Original Series” with publication date: January 05, 2017.

According to Zacks Investment Research, “Netflix is the world’s leading Internet television network with millions of subscribers in nearly 50 countries who have access to an ever-expanding library of TV shows and movies, including original programming, documentaries and feature films. The company offers the ability to watch as subscribers want, anytime, anywhere, on nearly any Internet-connected screen.”

Netflix, Inc. (NASDAQ:NFLX) Ratings Coverage

Out of 45 analysts covering Netflix (NASDAQ:NFLX), 26 rate it a “Buy”, 6 “Sell”, while 13 “Hold”. This means 58% are positive. Netflix has been the topic of 111 analyst reports since August 4, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating by Topeka Capital Markets given on Monday, August 10. The stock of Netflix, Inc. (NASDAQ:NFLX) has “Neutral” rating given on Thursday, October 15 by Credit Suisse. The company was maintained on Friday, August 14 by Raymond James. On Monday, November 21 the stock rating was initiated by Brean Capital with “Buy”. Pacific Crest maintained Netflix, Inc. (NASDAQ:NFLX) rating on Tuesday, July 19. Pacific Crest has “Overweight” rating and $125 price target. The firm has “Buy” rating by Canaccord Genuity given on Tuesday, October 18. The rating was maintained by Citigroup on Tuesday, April 19 with “Neutral”. The firm has “Sell” rating by Deutsche Bank given on Tuesday, October 18. On Tuesday, October 18 the stock rating was maintained by FBR Capital with “Mkt Perform”. The stock of Netflix, Inc. (NASDAQ:NFLX) has “Neutral” rating given on Monday, January 4 by Robert W. Baird.

NFLX Company Profile

Netflix, Inc. (Netflix), incorporated on August 29, 1997, is an Internet television network with over 86 million members in over 190 countries enjoying more than 125 million hours of television (TV) shows and movies per day, including original series, documentaries and feature films. Members can watch as much as they want, anytime, anywhere, on nearly any Internet-connected screen. Members can play, pause and resume watching, all without commercials or commitments.

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