Hollencrest Capital Management Sells 150 Shares of Netflix, Inc. (NASDAQ:NFLX)

Hollencrest Capital Management lowered its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 8.3% during the third quarter, HoldingsChannel reports. The institutional investor owned 1,659 shares of the Internet television network’s stock after selling 150 shares during the quarter. Hollencrest Capital Management’s holdings in Netflix were worth $1,177,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Denver PWM LLC bought a new stake in Netflix during the 2nd quarter worth approximately $25,000. Proffitt & Goodson Inc. raised its position in shares of Netflix by 380.0% in the second quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock worth $32,000 after buying an additional 38 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. increased its stake 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 acquiring an additional 42 shares during the last quarter. AlphaMark Advisors LLC increased its stake 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 acquiring an additional 45 shares during the last quarter. Finally, Triad Wealth Partners LLC bought a new stake in shares of Netflix in the second quarter worth about $38,000. Institutional investors own 80.93% of the company’s stock.

Analysts Set New Price Targets

NFLX has been the subject of several research analyst reports. Barclays restated an “underweight” rating and issued a $550.00 price objective on shares of Netflix in a report on Friday, October 18th. Guggenheim upped their target price on shares of Netflix from $810.00 to $825.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. Loop Capital increased their price objective on shares of Netflix from $750.00 to $800.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Macquarie reissued an “outperform” rating and set a $795.00 target price on shares of Netflix in a research report on Friday, October 18th. Finally, TD Cowen increased their price objective on shares of Netflix from $820.00 to $835.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Two research 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $748.15.

Netflix Stock Performance

Netflix stock traded down $4.56 during trading on Friday, reaching $791.98. The company had a trading volume of 450,545 shares, compared to its average volume of 3,669,237. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. The firm’s 50-day simple moving average is $717.59 and its 200 day simple moving average is $667.98. The firm has a market capitalization of $338.54 billion, a price-to-earnings ratio of 44.79, a price-to-earnings-growth ratio of 1.46 and a beta of 1.25. Netflix, Inc. has a 52 week low of $434.35 and a 52 week high of $799.06.

Insider Buying and Selling at Netflix

In other Netflix news, Director Timothy M. Haley sold 11,090 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $757.96, for a total transaction of $8,405,776.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Spencer Adam Neumann sold 433 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $772.10, for a total value of $334,319.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Timothy M. Haley sold 11,090 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $757.96, for a total value of $8,405,776.40. The disclosure for this sale can be found here. Insiders have sold a total of 242,112 shares of company stock valued at $169,954,456 over the last ninety days. 1.76% of the stock is currently owned by company insiders.

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.