Bedell Frazier Investment Counselling LLC Cuts Position in Netflix, Inc. (NASDAQ:NFLX)

Bedell Frazier Investment Counselling LLC lessened its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 3.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 452 shares of the Internet television network’s stock after selling 16 shares during the quarter. Bedell Frazier Investment Counselling LLC’s holdings in Netflix were worth $321,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Denver PWM LLC purchased a new position in shares of Netflix in the 2nd quarter worth approximately $25,000. Proffitt & Goodson Inc. boosted its holdings in shares of 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 purchasing an additional 38 shares during the period. E Fund Management Hong Kong Co. Ltd. boosted its holdings in shares of Netflix by 700.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after purchasing an additional 42 shares during the period. AlphaMark Advisors LLC boosted its holdings in shares of Netflix by 642.9% in the 2nd quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock worth $35,000 after purchasing an additional 45 shares during the period. Finally, MidAtlantic Capital Management Inc. purchased a new position in shares of Netflix in the 3rd quarter worth approximately $37,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on NFLX shares. Morgan Stanley raised their price target on Netflix from $820.00 to $830.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. TD Cowen lifted their target price on Netflix from $820.00 to $835.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Deutsche Bank Aktiengesellschaft lifted their target price on Netflix from $590.00 to $650.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Loop Capital lifted their target price on Netflix from $750.00 to $800.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, UBS Group lifted their target price on Netflix from $750.00 to $825.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Two 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 stock. According to MarketBeat.com, Netflix currently has a consensus rating of “Moderate Buy” and a consensus price target of $764.82.

Insider Transactions at Netflix

In other news, Director Anne M. Sweeney sold 589 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $880.00, for a total value of $518,320.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Reed Hastings sold 25,074 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $680.92, for a total value of $17,073,388.08. Following the completion of the transaction, the chairman now directly owns 85 shares of the company’s stock, valued at $57,878.20. The trade was a 99.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 185,866 shares of company stock worth $133,393,921 over the last quarter. 1.76% of the stock is currently owned by insiders.

Netflix Stock Up 0.0 %

Netflix stock opened at $897.79 on Monday. Netflix, Inc. has a fifty-two week low of $445.73 and a fifty-two week high of $908.00. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13. The company has a market cap of $383.77 billion, a PE ratio of 50.81, a PEG ratio of 1.73 and a beta of 1.25. The business’s 50-day simple moving average is $755.40 and its two-hundred day simple moving average is $691.50.

Netflix (NASDAQ:NFLX) last issued its earnings results 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 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 the consensus estimate of $9.77 billion. Equities analysts anticipate that Netflix, Inc. will post 19.78 EPS for the current year.

About Netflix

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.