Nicholas Hoffman & Company LLC. Trims Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Nicholas Hoffman & Company LLC. reduced its stake in Netflix, Inc. (NASDAQ:NFLX) by 16.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 675 shares of the Internet television network’s stock after selling 137 shares during the quarter. Nicholas Hoffman & Company LLC.’s holdings in Netflix were worth $479,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hennion & Walsh Asset Management Inc. acquired a new position in Netflix in the first quarter valued at $230,000. Kovack Advisors Inc. increased its stake in Netflix by 13.9% in the first quarter. Kovack Advisors Inc. now owns 1,891 shares of the Internet television network’s stock valued at $1,148,000 after purchasing an additional 231 shares during the last quarter. Veracity Capital LLC increased its stake in Netflix by 44.8% in the first quarter. Veracity Capital LLC now owns 640 shares of the Internet television network’s stock valued at $389,000 after purchasing an additional 198 shares during the last quarter. FORVIS Wealth Advisors LLC increased its stake in Netflix by 119.4% in the first quarter. FORVIS Wealth Advisors LLC now owns 974 shares of the Internet television network’s stock valued at $592,000 after purchasing an additional 530 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC increased its stake in Netflix by 6.5% in the first quarter. Ashton Thomas Private Wealth LLC now owns 7,459 shares of the Internet television network’s stock valued at $4,530,000 after purchasing an additional 457 shares during the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider David A. Hyman sold 20,656 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total value of $12,499,565.28. Following the sale, the insider now owns 31,610 shares of the company’s stock, valued at approximately $19,128,159.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider David A. Hyman sold 20,656 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total value of $12,499,565.28. Following the sale, the insider now directly owns 31,610 shares in the company, valued at $19,128,159.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider David A. Hyman sold 13,791 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $700.00, for a total value of $9,653,700.00. Following the completion of the sale, the insider now owns 31,610 shares in the company, valued at approximately $22,127,000. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 209,810 shares of company stock valued at $142,049,542. Insiders own 1.76% of the company’s stock.

Netflix Trading Down 0.8 %

NASDAQ:NFLX opened at $753.74 on Thursday. The company has a market cap of $322.19 billion, a PE ratio of 42.66, a P/E/G ratio of 1.45 and a beta of 1.26. Netflix, Inc. has a 52 week low of $404.63 and a 52 week high of $773.00. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. The business’s 50 day moving average is $710.23 and its two-hundred day moving average is $662.33.

Analyst Upgrades and Downgrades

NFLX has been the subject of several analyst reports. Citigroup upped their target price on Netflix from $660.00 to $675.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Benchmark restated a “sell” rating and set a $545.00 price target on shares of Netflix in a research note on Tuesday, October 15th. Wells Fargo & Company upped their price target on Netflix from $758.00 to $797.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Canaccord Genuity Group upped their price target on Netflix from $750.00 to $760.00 and gave the stock a “hold” rating in a research note on Friday, October 18th. Finally, Wolfe Research restated an “outperform” rating on shares of Netflix in a research note on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $748.15.

Netflix 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.