Concentric Wealth Management LLC Cuts Position in Netflix, Inc. (NASDAQ:NFLX)

Concentric Wealth Management LLC trimmed its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 35.8% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 538 shares of the Internet television network’s stock after selling 300 shares during the period. Concentric Wealth Management LLC’s holdings in Netflix were worth $382,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of NFLX. Jennison Associates LLC boosted its holdings in Netflix by 4.7% during the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after acquiring an additional 316,594 shares during the period. International Assets Investment Management LLC lifted its holdings in Netflix by 116,620.0% during the 3rd quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock worth $4,080,522,000 after buying an additional 5,748,200 shares in the last quarter. Baillie Gifford & Co. boosted its position in Netflix by 2.3% in the 2nd quarter. Baillie Gifford & Co. now owns 4,762,069 shares of the Internet television network’s stock valued at $3,213,825,000 after buying an additional 106,756 shares during the period. Fisher Asset Management LLC grew its stake in shares of Netflix by 2.8% in the third quarter. Fisher Asset Management LLC now owns 4,481,939 shares of the Internet television network’s stock worth $3,178,905,000 after acquiring an additional 123,987 shares in the last quarter. Finally, Legal & General Group Plc increased its position in shares of Netflix by 3.1% during the second quarter. Legal & General Group Plc now owns 3,449,114 shares of the Internet television network’s stock worth $2,327,738,000 after acquiring an additional 104,332 shares during the period. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Evercore ISI lifted their target price on Netflix from $750.00 to $775.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Pivotal Research increased their price target on Netflix from $925.00 to $1,100.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. JPMorgan Chase & Co. upped their target price on shares of Netflix from $750.00 to $850.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. StockNews.com upgraded shares of Netflix from a “hold” rating to a “buy” rating in a research note on Tuesday, September 24th. Finally, Canaccord Genuity Group increased their price objective on shares of Netflix from $750.00 to $760.00 and gave the company a “hold” rating in a research report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have given a buy rating to the company’s stock. Based on data from MarketBeat, Netflix currently has a consensus rating of “Moderate Buy” and an average price target of $764.82.

Netflix Stock Up 0.0 %

Shares of NASDAQ:NFLX opened at $897.79 on Monday. 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 company has a market capitalization of $383.77 billion, a P/E ratio of 50.81, a P/E/G ratio of 1.73 and a beta of 1.25. Netflix, Inc. has a 52-week low of $445.73 and a 52-week high of $908.00. The stock’s fifty day simple moving average is $755.40 and its 200-day simple moving average is $691.50.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.09 by $0.31. The company had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. As a group, equities research analysts forecast that Netflix, Inc. will post 19.78 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Netflix news, Chairman Reed Hastings sold 25,074 shares of Netflix stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $680.92, for a total value of $17,073,388.08. Following the transaction, the chairman now owns 85 shares in the company, valued at $57,878.20. This trade represents a 99.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Anne M. Sweeney sold 589 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $880.00, for a total value of $518,320.00. The disclosure for this sale can be found here. In the last three months, insiders sold 185,866 shares of company stock valued at $133,393,921. Company insiders own 1.76% of the company’s stock.

About Netflix

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.