Commonwealth Equity Services LLC Reduces Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Commonwealth Equity Services LLC trimmed its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 2.7% in the third quarter, Holdings Channel reports. The institutional investor owned 143,345 shares of the Internet television network’s stock after selling 3,988 shares during the period. Commonwealth Equity Services LLC’s holdings in Netflix were worth $101,670,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in NFLX. Heartland Bank & Trust Co increased its stake in Netflix by 0.9% in the second quarter. Heartland Bank & Trust Co now owns 1,770 shares of the Internet television network’s stock valued at $1,195,000 after purchasing an additional 15 shares during the last quarter. Meritas Wealth Management LLC grew its position in shares of Netflix by 2.9% in the 3rd quarter. Meritas Wealth Management LLC now owns 573 shares of the Internet television network’s stock valued at $406,000 after buying an additional 16 shares during the last quarter. Stage Harbor Financial LLC raised its stake in Netflix by 4.8% during the 3rd quarter. Stage Harbor Financial LLC now owns 346 shares of the Internet television network’s stock worth $250,000 after acquiring an additional 16 shares in the last quarter. Obermeyer Wood Investment Counsel Lllp boosted its stake in Netflix by 2.8% in the first quarter. Obermeyer Wood Investment Counsel Lllp now owns 623 shares of the Internet television network’s stock valued at $378,000 after acquiring an additional 17 shares in the last quarter. Finally, Private Portfolio Partners LLC grew its holdings in shares of Netflix by 1.7% during the first quarter. Private Portfolio Partners LLC now owns 1,042 shares of the Internet television network’s stock worth $633,000 after purchasing an additional 17 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Price Performance

NASDAQ:NFLX traded up $76.24 during trading hours on Friday, reaching $763.89. 15,974,119 shares of the company traded hands, compared to its average volume of 3,723,201. 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 firm’s 50-day moving average is $696.38 and its 200-day moving average is $654.66. The stock has a market cap of $329.24 billion, a P/E ratio of 53.01, a P/E/G ratio of 1.49 and a beta of 1.26. Netflix, Inc. has a 1-year low of $392.26 and a 1-year high of $766.28.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, beating analysts’ consensus estimates of $4.74 by $0.14. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The business had revenue of $9.56 billion for the quarter, compared to analyst estimates of $9.53 billion. During the same quarter last year, the company earned $3.29 earnings per share. The business’s revenue for the quarter was up 16.8% compared to the same quarter last year. Equities research analysts expect that Netflix, Inc. will post 19.08 earnings per share for the current fiscal year.

Analyst Ratings Changes

NFLX has been the subject of a number of research analyst reports. Canaccord Genuity Group upped their target price on Netflix from $750.00 to $760.00 and gave the company a “hold” rating in a research report on Friday. Wells Fargo & Company lifted their target price on shares of Netflix from $758.00 to $797.00 and gave the company an “overweight” rating in a report on Friday. Macquarie reiterated an “outperform” rating and set a $795.00 price target on shares of Netflix in a research note on Friday. Jefferies Financial Group upped their target price on shares of Netflix from $780.00 to $800.00 and gave the company a “buy” rating in a report on Friday. Finally, Wolfe Research reissued an “outperform” rating on shares of Netflix in a report on Friday. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-six have issued a buy rating to the stock. According to MarketBeat.com, Netflix currently has a consensus rating of “Moderate Buy” and an average target price of $739.38.

Insider Buying and Selling at Netflix

In other news, Director Leslie J. Kilgore sold 383 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $730.00, for a total value of $279,590.00. Following the completion of the transaction, the director now owns 35,262 shares of the company’s stock, valued at $25,741,260. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Leslie J. Kilgore sold 383 shares of Netflix stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $730.00, for a total value of $279,590.00. Following the completion of the sale, the director now owns 35,262 shares of the company’s stock, valued at $25,741,260. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Reed Hastings sold 45,290 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $706.16, for a total value of $31,981,986.40. Following the transaction, the chairman now owns 85 shares in the company, valued at $60,023.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 225,167 shares of company stock worth $150,492,460. Corporate 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.