Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Wittenberg Investment Management Inc.

Wittenberg Investment Management Inc. cut its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 9.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 2,378 shares of the Internet television network’s stock after selling 235 shares during the quarter. Netflix comprises about 0.6% of Wittenberg Investment Management Inc.’s investment portfolio, making the stock its 27th biggest holding. Wittenberg Investment Management Inc.’s holdings in Netflix were worth $1,687,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Jennison Associates LLC increased its stake in Netflix by 4.7% during the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after buying an additional 316,594 shares during the period. International Assets Investment Management LLC lifted its stake in Netflix by 116,620.0% in the third 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 during the last quarter. Baillie Gifford & Co. raised its holdings in shares of Netflix by 2.3% during the second quarter. Baillie Gifford & Co. now owns 4,762,069 shares of the Internet television network’s stock valued at $3,213,825,000 after buying an additional 106,756 shares during the last quarter. Fisher Asset Management LLC grew its stake in shares of Netflix by 2.8% in the third quarter. Fisher Asset Management LLC now owns 4,481,939 shares of the Internet television network’s stock worth $3,178,905,000 after purchasing an additional 123,987 shares in the last quarter. Finally, Legal & General Group Plc raised its position 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 buying an additional 104,332 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. JPMorgan Chase & Co. upped their price target on Netflix from $750.00 to $850.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Jefferies Financial Group boosted their target price on shares of Netflix from $780.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Wells Fargo & Company raised their price objective on shares of Netflix from $758.00 to $797.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Needham & Company LLC raised their price objective on Netflix from $700.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Finally, Canaccord Genuity Group raised their price target on shares of Netflix from $750.00 to $760.00 and gave the stock a “hold” rating in a research note on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat.com, Netflix currently has a consensus rating of “Moderate Buy” and an average target price of $764.82.

Insider Buying and Selling at Netflix

In other Netflix news, insider David A. Hyman sold 267 shares of the firm’s stock in a transaction 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 owns 31,610 shares of the company’s stock, valued at approximately $24,202,828.70. This trade represents a 0.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Timothy M. Haley sold 11,090 shares of Netflix stock in a transaction dated Tuesday, November 5th. The stock was 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 185,866 shares of company stock worth $133,393,921 over the last 90 days. Corporate insiders own 1.76% of the company’s stock.

Netflix Stock Up 0.0 %

NFLX stock opened at $897.79 on Monday. The stock has a 50-day simple moving average of $755.40 and a two-hundred day simple moving average of $691.50. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. Netflix, Inc. has a twelve month low of $445.73 and a twelve month high of $908.00. The firm has a market capitalization of $383.77 billion, a PE ratio of 50.81, a PEG ratio of 1.73 and a beta of 1.25.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $9.77 billion. On average, equities analysts predict that Netflix, Inc. will post 19.78 EPS for the current fiscal year.

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.