Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Profit Investment Management LLC

Profit Investment Management LLC reduced its position in Netflix, Inc. (NASDAQ:NFLXFree Report) by 16.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,673 shares of the Internet television network’s stock after selling 533 shares during the period. Profit Investment Management LLC’s holdings in Netflix were worth $1,896,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in NFLX. Denver PWM LLC purchased a new stake in Netflix during the 2nd quarter worth approximately $25,000. Valued Wealth Advisors LLC raised its stake in Netflix by 80.0% in the 1st quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock valued at $27,000 after purchasing an additional 20 shares during the last quarter. Beaird Harris Wealth Management LLC lifted its holdings in Netflix by 1,550.0% in the 4th quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock valued at $32,000 after purchasing an additional 62 shares in the last quarter. Scarborough Advisors LLC acquired a new stake in Netflix during the 4th quarter worth $32,000. Finally, Indiana Trust & Investment Management CO grew its holdings in shares of Netflix by 112.0% during the first quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock worth $32,000 after buying an additional 28 shares in the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Netflix

In other news, insider David A. Hyman sold 20,656 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the completion of the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at $19,128,159.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider David A. Hyman sold 20,656 shares of Netflix stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the completion of the sale, the insider now owns 31,610 shares in the company, valued at approximately $19,128,159.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider David A. Hyman sold 13,791 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $700.00, for a total transaction of $9,653,700.00. Following the completion of the transaction, the insider now owns 31,610 shares in the company, valued at approximately $22,127,000. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 224,784 shares of company stock valued at $150,212,870 over the last quarter. Corporate insiders own 1.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on NFLX. Citigroup boosted their target price on Netflix from $660.00 to $675.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Jefferies Financial Group upped their price objective on shares of Netflix from $655.00 to $780.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Benchmark lifted their target price on shares of Netflix from $450.00 to $545.00 and gave the stock a “sell” rating in a research note on Tuesday, July 16th. Macquarie reissued an “outperform” rating and issued a $685.00 price target on shares of Netflix in a research note on Tuesday, July 16th. Finally, The Goldman Sachs Group lifted their price target on shares of Netflix from $650.00 to $659.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $699.56.

View Our Latest Stock Report on NFLX

Netflix Price Performance

Shares of NFLX traded up $1.29 on Friday, reaching $731.58. The stock had a trading volume of 479,584 shares, compared to its average volume of 3,640,552. Netflix, Inc. has a twelve month low of $344.73 and a twelve month high of $735.56. The firm has a market capitalization of $313.97 billion, a PE ratio of 45.72, a PEG ratio of 1.49 and a beta of 1.26. The firm has a 50-day moving average of $684.42 and a 200 day moving average of $650.52. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.55.

Netflix (NASDAQ:NFLXGet Free Report) last announced its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, beating analysts’ consensus estimates of $4.74 by $0.14. The business had revenue of $9.56 billion during the quarter, compared to analysts’ expectations of $9.53 billion. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The business’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same quarter last year, the business posted $3.29 earnings per share. Sell-side analysts expect that Netflix, Inc. will post 19.08 EPS for the current year.

About Netflix

(Free Report)

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.

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Institutional Ownership by Quarter for Netflix (NASDAQ:NFLX)

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