Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Gradient Capital Advisors LLC
Gradient Capital Advisors LLC decreased its position in Netflix, Inc. (NASDAQ:NFLX) by 15.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 839 shares of the Internet television network’s stock after selling 150 shares during the quarter. Gradient Capital Advisors LLC’s holdings in Netflix were worth $271,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of NFLX. Commonwealth Bank of Australia increased its position in Netflix by 4.8% in the 2nd quarter. Commonwealth Bank of Australia now owns 789 shares of the Internet television network’s stock worth $287,000 after purchasing an additional 36 shares during the last quarter. Pictet Asset Management Ltd. increased its position in Netflix by 3.2% in the 2nd quarter. Pictet Asset Management Ltd. now owns 491,547 shares of the Internet television network’s stock worth $180,555,000 after purchasing an additional 15,222 shares during the last quarter. RMB Capital Management LLC increased its position in Netflix by 9.2% in the 2nd quarter. RMB Capital Management LLC now owns 1,073 shares of the Internet television network’s stock worth $394,000 after purchasing an additional 90 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in Netflix in the 2nd quarter worth about $5,699,000. Finally, Johnson Investment Counsel Inc. increased its position in Netflix by 6.6% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 1,005 shares of the Internet television network’s stock worth $369,000 after purchasing an additional 62 shares during the last quarter. 80.80% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ NFLX opened at $339.07 on Thursday. The stock has a fifty day moving average of $320.71 and a 200-day moving average of $308.14. The stock has a market capitalization of $148.46 billion, a P/E ratio of 126.52, a price-to-earnings-growth ratio of 2.07 and a beta of 1.28. Netflix, Inc. has a 52 week low of $252.28 and a 52 week high of $385.99. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.73 and a current ratio of 0.73.
In other news, CEO Reed Hastings sold 54,516 shares of Netflix stock in a transaction on Monday, November 25th. The stock was sold at an average price of $312.04, for a total value of $17,011,172.64. Following the completion of the sale, the chief executive officer now directly owns 54,516 shares of the company’s stock, valued at approximately $17,011,172.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 4.29% of the stock is currently owned by company insiders.
Several research analysts have weighed in on NFLX shares. Monness Crespi & Hardt dropped their target price on Netflix from $440.00 to $340.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Huber Research lowered Netflix from an “overweight” rating to an “underweight” rating in a research report on Thursday, October 17th. Macquarie lowered Netflix from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $375.00 to $325.00 in a research report on Thursday, October 17th. Evercore ISI lowered their price objective on Netflix from $380.00 to $300.00 and set an “in-line” rating on the stock in a report on Monday, October 7th. Finally, JPMorgan Chase & Co. reissued a “buy” rating and set a $425.00 price objective on shares of Netflix in a report on Tuesday, January 7th. Five research analysts have rated the stock with a sell rating, twelve have issued a hold rating and twenty-four have given a buy rating to the company. Netflix presently has an average rating of “Hold” and an average price target of $373.29.
Netflix, Inc provides Internet entertainment services. The company operates in three segments: Domestic streaming, International streaming, and Domestic DVD. It offers TV series, documentaries, and feature films across various genres and languages. The company provides members the ability to receive streaming content through a host of Internet-connected screens, including TVs, digital video players, television set-top boxes, and mobile devices.
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