Legacy Capital Group California Inc. Reduces Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Legacy Capital Group California Inc. trimmed its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 1.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,391 shares of the Internet television network’s stock after selling 15 shares during the period. Legacy Capital Group California Inc.’s holdings in Netflix were worth $987,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Spirit of America Management Corp NY increased its position in Netflix by 10.0% during the third quarter. Spirit of America Management Corp NY now owns 1,100 shares of the Internet television network’s stock valued at $780,000 after acquiring an additional 100 shares during the last quarter. Dakota Wealth Management increased its position in shares of Netflix by 15.6% during the 3rd quarter. Dakota Wealth Management now owns 43,357 shares of the Internet television network’s stock valued at $30,752,000 after purchasing an additional 5,852 shares during the last quarter. Investment Research & Advisory Group Inc. bought a new position in shares of Netflix in the 3rd quarter worth approximately $2,391,000. DT Investment Partners LLC boosted its holdings in shares of Netflix by 15.4% in the third quarter. DT Investment Partners LLC now owns 389 shares of the Internet television network’s stock worth $276,000 after buying an additional 52 shares during the last quarter. Finally, Valicenti Advisory Services Inc. increased its holdings in Netflix by 9.1% during the third quarter. Valicenti Advisory Services Inc. now owns 3,182 shares of the Internet television network’s stock valued at $2,257,000 after buying an additional 266 shares during the last quarter. Institutional investors own 80.93% of the company’s stock.

Netflix Stock Up 0.7 %

Shares of NASDAQ NFLX opened at $754.55 on Friday. Netflix, Inc. has a 12-month low of $395.62 and a 12-month high of $773.00. The stock’s fifty day simple moving average is $703.23 and its two-hundred day simple moving average is $657.75. The stock has a market capitalization of $322.54 billion, a PE ratio of 42.70, a price-to-earnings-growth ratio of 1.48 and a beta of 1.26. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62.

Insider Activity at Netflix

In other Netflix news, Director Leslie J. Kilgore sold 358 shares of the stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $765.00, for a total transaction of $273,870.00. Following the completion of the sale, the director now directly owns 35,262 shares of the company’s stock, valued at approximately $26,975,430. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider David A. Hyman sold 20,656 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $19,128,159.30. This represents 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 accessible through the SEC website. Also, Director Leslie J. Kilgore sold 358 shares of the firm’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $765.00, for a total value of $273,870.00. Following the completion of the transaction, the director now owns 35,262 shares of the company’s stock, valued at approximately $26,975,430. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 229,711 shares of company stock valued at $153,905,830 over the last quarter. 1.76% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Piper Sandler reissued an “overweight” rating and set a $840.00 price objective (up previously from $800.00) on shares of Netflix in a research report on Friday, October 18th. Macquarie reissued an “outperform” rating and issued a $795.00 target price on shares of Netflix in a report on Friday, October 18th. China Renaissance initiated coverage on shares of Netflix in a research note on Thursday, September 5th. They issued a “hold” rating and a $680.00 price objective for the company. Jefferies Financial Group lifted their target price on shares of Netflix from $780.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $825.00 price target (up previously from $770.00) on shares of Netflix in a research note on Friday, October 18th. Two 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 stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $747.70.

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.