DMC Group LLC Decreases Position in Netflix, Inc. (NASDAQ:NFLX)

DMC Group LLC cut its stake in Netflix, Inc. (NASDAQ:NFLX) by 6.8% in the third quarter, Holdings Channel reports. The institutional investor owned 1,986 shares of the Internet television network’s stock after selling 146 shares during the period. Netflix makes up about 1.1% of DMC Group LLC’s investment portfolio, making the stock its 23rd biggest holding. DMC Group LLC’s holdings in Netflix were worth $1,409,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Denver PWM LLC purchased a new stake in shares of Netflix in the second quarter worth approximately $25,000. Valued Wealth Advisors LLC boosted its stake in shares of Netflix by 80.0% during the first 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 period. Indiana Trust & Investment Management CO grew its holdings in shares of Netflix by 112.0% in the first quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock worth $32,000 after purchasing an additional 28 shares during the last quarter. Proffitt & Goodson Inc. grew its stake in Netflix by 380.0% in the 2nd quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock worth $32,000 after acquiring an additional 38 shares in the last quarter. Finally, AlphaMark Advisors LLC increased its position in shares of Netflix by 642.9% during the second quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock worth $35,000 after acquiring an additional 45 shares during the period. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Price Performance

Shares of NFLX stock opened at $763.89 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market capitalization of $329.24 billion, a PE ratio of 53.01, a price-to-earnings-growth ratio of 1.49 and a beta of 1.26. The firm’s 50-day moving average is $696.38 and its two-hundred day moving average is $654.94. Netflix, Inc. has a 12 month low of $392.26 and a 12 month high of $766.28.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, topping the consensus estimate of $4.74 by $0.14. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The company had revenue of $9.56 billion during the quarter, compared to analyst estimates of $9.53 billion. During the same period in the prior year, the business posted $3.29 earnings per share. The firm’s revenue for the quarter was up 16.8% compared to the same quarter last year. Analysts predict that Netflix, Inc. will post 19.08 earnings per share for the current year.

Analyst Upgrades and Downgrades

NFLX has been the subject of a number of research reports. 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 report on Friday. JPMorgan Chase & Co. increased their price target on Netflix from $750.00 to $850.00 and gave the stock an “overweight” rating in a research report on Friday. Morgan Stanley lifted their price objective on Netflix from $820.00 to $830.00 and gave the company an “overweight” rating in a report on Friday. Macquarie reaffirmed an “outperform” rating and issued a $795.00 price target on shares of Netflix in a research report on Friday. Finally, UBS Group boosted their price objective on shares of Netflix from $750.00 to $825.00 and gave the stock a “buy” rating in a research note on Friday. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $747.70.

Insider Activity

In related news, Chairman Reed Hastings sold 25,599 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $631.43, for a total transaction of $16,163,976.57. Following the completion of the sale, the chairman now directly owns 57 shares of the company’s stock, valued at approximately $35,991.51. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Gregory K. Peters sold 1,278 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $614.44, for a total transaction of $785,254.32. Following the completion of the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at $8,043,019.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Reed Hastings sold 25,599 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $631.43, for a total value of $16,163,976.57. Following the completion of the sale, the chairman now owns 57 shares in the company, valued at $35,991.51. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 225,167 shares of company stock valued at $150,492,460 in the last quarter. Insiders own 1.76% of the company’s stock.

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.