Mosaic Financial Group LLC Cuts Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Mosaic Financial Group LLC trimmed its holdings in Netflix, Inc. (NASDAQ:NFLX) by 5.4% during the 3rd quarter, Holdings Channel.com reports. The fund owned 348 shares of the Internet television network’s stock after selling 20 shares during the period. Mosaic Financial Group LLC’s holdings in Netflix were worth $247,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. RPg Family Wealth Advisory LLC bought a new stake in shares of Netflix during the third quarter valued at approximately $25,000. Denver PWM LLC purchased a new stake in Netflix in the 2nd quarter worth $25,000. Proffitt & Goodson Inc. grew its position in shares of Netflix by 380.0% during the second quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock valued at $32,000 after purchasing an additional 38 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. grew its position in shares of Netflix by 700.0% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock valued at $34,000 after purchasing an additional 42 shares in the last quarter. Finally, AlphaMark Advisors LLC increased its holdings in shares of Netflix by 642.9% in the second quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock worth $35,000 after purchasing an additional 45 shares during the last quarter. Institutional investors own 80.93% of the company’s stock.

Insiders Place Their Bets

In other Netflix news, Chairman Reed Hastings sold 48,363 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the sale, the chairman now owns 114 shares of the company’s stock, valued at approximately $102,212.40. The trade was a 99.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jay C. Hoag sold 43,750 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $687.07, for a total value of $30,059,312.50. Following the completion of the transaction, the director now directly owns 95,040 shares in the company, valued at approximately $65,299,132.80. The trade was a 31.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 209,155 shares of company stock valued at $159,682,799. 1.76% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Pivotal Research raised their price target on Netflix from $925.00 to $1,100.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. The Goldman Sachs Group set a $750.00 price target on shares of Netflix in a research note on Friday, October 18th. KeyCorp increased their price objective on shares of Netflix from $760.00 to $785.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Needham & Company LLC increased their price target on shares of Netflix from $700.00 to $800.00 and gave the company a “buy” rating in a report on Friday, October 18th. Finally, Sanford C. Bernstein upped their price objective on Netflix from $625.00 to $780.00 and gave the company a “market perform” 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 assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $783.00.

Netflix Stock Up 1.8 %

Shares of NASDAQ NFLX opened at $934.74 on Friday. Netflix, Inc. has a 12-month low of $448.32 and a 12-month high of $935.27. The stock’s fifty day simple moving average is $792.92 and its two-hundred day simple moving average is $710.12. The stock has a market capitalization of $399.56 billion, a PE ratio of 52.90, a price-to-earnings-growth ratio of 1.76 and a beta of 1.27. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62.

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

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.