Axxcess Wealth Management LLC Cuts Position in Netflix, Inc. (NASDAQ:NFLX)

Axxcess Wealth Management LLC lowered its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 0.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,675 shares of the Internet television network’s stock after selling 25 shares during the period. Axxcess Wealth Management LLC’s holdings in Netflix were worth $18,211,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NFLX. KCM Investment Advisors LLC grew its holdings in Netflix by 14.6% in the first quarter. KCM Investment Advisors LLC now owns 620 shares of the Internet television network’s stock valued at $377,000 after purchasing an additional 79 shares during the last quarter. Reynders McVeigh Capital Management LLC acquired a new position in Netflix during the first quarter worth about $246,000. Concurrent Investment Advisors LLC lifted its holdings in shares of Netflix by 25.4% in the first quarter. Concurrent Investment Advisors LLC now owns 6,040 shares of the Internet television network’s stock valued at $3,668,000 after purchasing an additional 1,223 shares in the last quarter. NorthRock Partners LLC grew its position in shares of Netflix by 15.0% in the first quarter. NorthRock Partners LLC now owns 4,970 shares of the Internet television network’s stock valued at $3,019,000 after purchasing an additional 648 shares during the last quarter. Finally, Meeder Asset Management Inc. increased its stake in shares of Netflix by 40.9% during the 1st quarter. Meeder Asset Management Inc. now owns 6,351 shares of the Internet television network’s stock worth $3,857,000 after purchasing an additional 1,845 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on NFLX shares. Jefferies Financial Group upped their target price on Netflix from $780.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Citigroup upped their price objective on Netflix from $660.00 to $675.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Canaccord Genuity Group lifted their price objective on Netflix from $750.00 to $760.00 and gave the stock a “hold” rating in a research report on Friday, October 18th. Piper Sandler restated an “overweight” rating and issued a $840.00 target price (up from $800.00) on shares of Netflix in a report on Friday, October 18th. Finally, China Renaissance started coverage on shares of Netflix in a research note on Thursday, September 5th. They set a “hold” rating and a $680.00 price target on the stock. Two investment 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. Based on data from MarketBeat, Netflix has a consensus rating of “Moderate Buy” and a consensus target price of $748.15.

Netflix Trading Down 0.2 %

Shares of NFLX opened at $795.04 on Friday. Netflix, Inc. has a 12 month low of $434.35 and a 12 month high of $799.06. The stock’s 50-day moving average is $721.55 and its two-hundred day moving average is $670.54. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. The stock has a market cap of $339.85 billion, a PE ratio of 44.99, a P/E/G ratio of 1.50 and a beta of 1.25.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, topping the consensus estimate of $5.09 by $0.31. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The firm had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.77 billion. Equities analysts forecast that Netflix, Inc. will post 19.78 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Jay C. Hoag sold 37,675 shares of Netflix stock in a transaction on Monday, August 12th. The shares were sold at an average price of $629.73, for a total transaction of $23,725,077.75. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider David A. Hyman sold 267 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total transaction of $204,433.89. Following the completion of the transaction, the insider now directly owns 31,610 shares in the company, valued at approximately $24,202,828.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Jay C. Hoag sold 37,675 shares of Netflix stock in a transaction on Monday, August 12th. The stock was sold at an average price of $629.73, for a total transaction of $23,725,077.75. The disclosure for this sale can be found here. Over the last three months, insiders sold 242,112 shares of company stock worth $169,954,456. 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.