Icon Wealth Advisors LLC Cuts Stake in Netflix, Inc. (NASDAQ:NFLX)

Icon Wealth Advisors LLC cut its stake in Netflix, Inc. (NASDAQ:NFLX) by 33.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,959 shares of the Internet television network’s stock after selling 2,526 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Netflix were worth $3,517,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Jennison Associates LLC increased its position in shares of Netflix by 4.7% during the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after purchasing an additional 316,594 shares in the last quarter. International Assets Investment Management LLC grew its holdings in Netflix by 116,620.0% in the 3rd quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock valued at $4,080,522,000 after buying an additional 5,748,200 shares in the last quarter. Baillie Gifford & Co. increased its stake in shares of Netflix by 2.3% in the 2nd quarter. Baillie Gifford & Co. now owns 4,762,069 shares of the Internet television network’s stock worth $3,213,825,000 after acquiring an additional 106,756 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Netflix by 3.1% during the 2nd quarter. Legal & General Group Plc now owns 3,449,114 shares of the Internet television network’s stock worth $2,327,738,000 after acquiring an additional 104,332 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of Netflix by 2.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,281,306 shares of the Internet television network’s stock valued at $2,214,488,000 after acquiring an additional 83,762 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Netflix Stock Performance

Shares of NFLX stock opened at $896.05 on Friday. Netflix, Inc. has a 52-week low of $445.73 and a 52-week high of $908.00. The stock’s 50-day moving average price is $751.39 and its 200 day moving average price is $688.25. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $383.03 billion, a PE ratio of 50.71, a price-to-earnings-growth ratio of 1.68 and a beta of 1.25.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, topping analysts’ consensus estimates of $5.09 by $0.31. Netflix had a net margin of 20.70% and a return on equity of 35.86%. The company had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.77 billion. As a group, equities research analysts forecast that Netflix, Inc. will post 19.78 EPS for the current year.

Insider Buying and Selling

In other Netflix news, Director Anne M. Sweeney sold 589 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $880.00, for a total value of $518,320.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Reed Hastings sold 25,074 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $680.92, for a total transaction of $17,073,388.08. Following the completion of the transaction, the chairman now owns 85 shares of the company’s stock, valued at $57,878.20. This represents a 99.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 185,866 shares of company stock valued at $133,393,921 over the last ninety days. Corporate insiders own 1.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on NFLX shares. Guggenheim raised their price objective on shares of Netflix from $810.00 to $825.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Needham & Company LLC raised their price target on shares of Netflix from $700.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Bank of America upped their price objective on Netflix from $800.00 to $1,000.00 and gave the company a “buy” rating in a report on Thursday. Sanford C. Bernstein raised their target price on Netflix from $625.00 to $780.00 and gave the stock a “market perform” rating in a research note on Friday, October 18th. Finally, Rosenblatt Securities boosted their price target on shares of Netflix from $635.00 to $680.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $764.82.

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.