Baker Tilly Wealth Management LLC Reduces Stake in Netflix, Inc. (NASDAQ:NFLX)

Baker Tilly Wealth Management LLC cut its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 1.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,215 shares of the Internet television network’s stock after selling 55 shares during the period. Netflix accounts for about 1.0% of Baker Tilly Wealth Management LLC’s portfolio, making the stock its 19th biggest position. Baker Tilly Wealth Management LLC’s holdings in Netflix were worth $2,280,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of NFLX. New World Advisors LLC grew its holdings in Netflix by 2.0% in the third quarter. New World Advisors LLC now owns 724 shares of the Internet television network’s stock valued at $514,000 after purchasing an additional 14 shares during the period. Heartland Bank & Trust Co increased its holdings in Netflix by 0.9% in the 2nd quarter. Heartland Bank & Trust Co now owns 1,770 shares of the Internet television network’s stock worth $1,195,000 after acquiring an additional 15 shares in the last quarter. Cedrus LLC raised its position in Netflix by 0.8% during the third quarter. Cedrus LLC now owns 1,781 shares of the Internet television network’s stock worth $1,263,000 after acquiring an additional 15 shares during the period. Meritas Wealth Management LLC lifted its holdings in Netflix by 2.9% during the third quarter. Meritas Wealth Management LLC now owns 573 shares of the Internet television network’s stock valued at $406,000 after purchasing an additional 16 shares in the last quarter. Finally, Stage Harbor Financial LLC grew its position in shares of Netflix by 4.8% in the third quarter. Stage Harbor Financial LLC now owns 346 shares of the Internet television network’s stock valued at $250,000 after purchasing an additional 16 shares during the period. 80.93% of the stock is owned by institutional investors.

Netflix Trading Up 0.6 %

Shares of Netflix stock opened at $759.29 on Monday. The firm has a market cap of $327.25 billion, a price-to-earnings ratio of 52.37, a price-to-earnings-growth ratio of 1.48 and a beta of 1.26. Netflix, Inc. has a 52-week low of $399.41 and a 52-week high of $773.00. The company’s 50-day simple moving average is $706.67 and its 200-day simple moving average is $659.88. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 0.62.

Insider Buying and Selling at Netflix

In other news, Director Leslie J. Kilgore sold 358 shares of the stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $765.00, for a total transaction of $273,870.00. Following the completion of the transaction, 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 position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider David A. Hyman sold 20,656 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now owns 31,610 shares in the company, valued at $19,128,159.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Leslie J. Kilgore sold 358 shares of the business’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $765.00, for a total value of $273,870.00. Following the sale, the director now owns 35,262 shares in the company, 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. In the last 90 days, insiders have sold 229,711 shares of company stock valued at $153,905,830. 1.76% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on NFLX. Macquarie reaffirmed an “outperform” rating and issued a $795.00 price target on shares of Netflix in a research note on Friday, October 18th. Redburn Atlantic raised their target price on Netflix from $740.00 to $760.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Barclays reissued an “underweight” rating and issued a $550.00 price objective on shares of Netflix in a research note on Friday, October 18th. Wedbush raised their price objective on Netflix from $725.00 to $775.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Finally, Guggenheim upped their target price on shares of Netflix from $735.00 to $810.00 and gave the stock a “buy” rating in a report on Friday, October 11th. 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, Netflix currently has an average rating of “Moderate Buy” and an average target price of $747.70.

Netflix 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.