Concorde Asset Management LLC Has $518,000 Holdings in Netflix, Inc. (NASDAQ:NFLX)

Concorde Asset Management LLC cut its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 4.6% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 730 shares of the Internet television network’s stock after selling 35 shares during the quarter. Concorde Asset Management LLC’s holdings in Netflix were worth $518,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Denver PWM LLC acquired a new stake in Netflix in the second quarter valued at $25,000. Proffitt & Goodson Inc. increased its holdings in Netflix by 380.0% in 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 during the period. E Fund Management Hong Kong Co. Ltd. increased its holdings in Netflix by 700.0% in 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 during the period. AlphaMark Advisors LLC increased its holdings in Netflix by 642.9% in the second quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock valued at $35,000 after purchasing an additional 45 shares during the period. Finally, MidAtlantic Capital Management Inc. acquired a new stake in Netflix in the third quarter valued at $37,000. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Netflix

In other news, Director Jay C. Hoag sold 43,750 shares of Netflix stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $687.07, for a total transaction of $30,059,312.50. Following the completion of the sale, the director now directly owns 95,040 shares of the company’s stock, valued at approximately $65,299,132.80. The trade was a 31.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Reed Hastings sold 25,074 shares of Netflix stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $680.92, for a total transaction of $17,073,388.08. Following the sale, the chairman now directly owns 85 shares of the company’s stock, valued at $57,878.20. This represents a 99.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 185,866 shares of company stock valued at $133,393,921 in the last three months. Company insiders own 1.76% of the company’s stock.

Netflix Stock Up 1.4 %

NFLX opened at $896.05 on Friday. The company has a 50 day moving average of $751.39 and a 200 day moving average of $688.25. The company has a market cap of $383.03 billion, a PE ratio of 50.71, a price-to-earnings-growth ratio of 1.68 and a beta of 1.25. Netflix, Inc. has a 12 month low of $445.73 and a 12 month high of $908.00. 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 announced its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, beating the consensus estimate of $5.09 by $0.31. Netflix had a net margin of 20.70% and a return on equity of 35.86%. The firm had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.77 billion. On average, sell-side analysts expect that Netflix, Inc. will post 19.78 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on NFLX. Wedbush reaffirmed an “outperform” rating and set a $950.00 price target (up previously from $800.00) on shares of Netflix in a research report on Monday. KeyCorp upped their price target 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. China Renaissance began coverage on shares of Netflix in a research report on Thursday, September 5th. They set a “hold” rating and a $680.00 price target on the stock. JPMorgan Chase & Co. upped their price target on shares of Netflix from $750.00 to $850.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Finally, Barclays reaffirmed an “underweight” rating and set a $550.00 price target on shares of Netflix 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 given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $764.82.

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.