Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Able Wealth Management LLC

Able Wealth Management LLC lowered its stake in Netflix, Inc. (NASDAQ:NFLX) by 2.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 750 shares of the Internet television network’s stock after selling 17 shares during the period. Able Wealth Management LLC’s holdings in Netflix were worth $532,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. CWA Asset Management Group LLC acquired a new position in Netflix during the third quarter valued at $1,787,000. Leavell Investment Management Inc. raised its stake in shares of Netflix by 11.3% during the 3rd quarter. Leavell Investment Management Inc. now owns 622 shares of the Internet television network’s stock valued at $441,000 after buying an additional 63 shares during the last quarter. Capital Performance Advisors LLP lifted its holdings in shares of Netflix by 30.6% in the 3rd quarter. Capital Performance Advisors LLP now owns 534 shares of the Internet television network’s stock valued at $379,000 after buying an additional 125 shares during the period. Stiles Financial Services Inc boosted its stake in shares of Netflix by 82.5% in the third quarter. Stiles Financial Services Inc now owns 593 shares of the Internet television network’s stock worth $421,000 after buying an additional 268 shares during the last quarter. Finally, AIA Group Ltd grew its holdings in Netflix by 7.8% during the third quarter. AIA Group Ltd now owns 22,826 shares of the Internet television network’s stock worth $16,190,000 after acquiring an additional 1,660 shares during the period. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on NFLX. Jefferies Financial Group raised their price target on shares of Netflix from $780.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Barclays restated an “underweight” rating and issued a $550.00 price target on shares of Netflix in a research note on Friday, October 18th. StockNews.com raised Netflix from a “hold” rating to a “buy” rating in a report on Tuesday, September 24th. Wedbush boosted their price objective on Netflix from $725.00 to $775.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Finally, Evercore ISI increased their target price on Netflix from $750.00 to $775.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Netflix has an average rating of “Moderate Buy” and an average target price of $748.15.

Netflix Price Performance

NFLX stock opened at $795.04 on Friday. The stock has a market cap of $339.85 billion, a price-to-earnings ratio of 44.99, a PEG ratio of 1.50 and a beta of 1.25. Netflix, Inc. has a fifty-two week low of $434.35 and a fifty-two week high of $799.06. 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 has a 50 day moving average price of $721.55 and a 200 day moving average price of $670.54.

Insiders Place Their Bets

In other news, CFO Spencer Adam Neumann sold 433 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $772.10, for a total value of $334,319.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Spencer Adam Neumann sold 433 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $772.10, for a total transaction of $334,319.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jay C. Hoag sold 37,675 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $629.73, for a total transaction of $23,725,077.75. The disclosure for this sale can be found here. Insiders have sold a total of 242,112 shares of company stock valued at $169,954,456 over the last quarter. Company insiders own 1.76% of the company’s stock.

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.