Lake Street Private Wealth LLC Has $912,000 Holdings in Netflix, Inc. (NASDAQ:NFLX)

Lake Street Private Wealth LLC cut its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 57.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,286 shares of the Internet television network’s stock after selling 1,751 shares during the period. Lake Street Private Wealth LLC’s holdings in Netflix were worth $912,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NFLX. DigitalBridge Group Inc. lifted its holdings in shares of Netflix by 35.5% in the second quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock valued at $24,338,000 after purchasing an additional 9,451 shares in the last quarter. M&G Plc acquired a new position in Netflix during the first quarter worth approximately $9,682,000. BSN CAPITAL PARTNERS Ltd increased its position in Netflix by 24.4% during the first quarter. BSN CAPITAL PARTNERS Ltd now owns 250,000 shares of the Internet television network’s stock worth $155,185,000 after buying an additional 49,000 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in Netflix by 58.2% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 82,931 shares of the Internet television network’s stock worth $55,968,000 after buying an additional 30,511 shares during the last quarter. Finally, First Trust Direct Indexing L.P. increased its position in Netflix by 14.9% during the first quarter. First Trust Direct Indexing L.P. now owns 10,330 shares of the Internet television network’s stock worth $6,274,000 after buying an additional 1,342 shares during the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. TD Cowen upped 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. Sanford C. Bernstein increased their price target on Netflix from $625.00 to $780.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. Oppenheimer increased their price target on Netflix from $775.00 to $825.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Wedbush increased their price target on Netflix from $725.00 to $775.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Finally, Benchmark restated a “sell” rating and set a $545.00 target price on shares of Netflix in a research note on Tuesday, October 15th. 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 company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $747.70.

Insider Transactions at Netflix

In other Netflix news, CEO Gregory K. Peters sold 4,186 shares of the business’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $750.00, for a total value of $3,139,500.00. Following the completion of the sale, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at $9,817,500. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Gregory K. Peters sold 4,186 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $750.00, for a total transaction of $3,139,500.00. Following the completion of the transaction, the chief executive officer now owns 13,090 shares in the company, valued at $9,817,500. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Reed Hastings sold 45,290 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $706.16, for a total transaction of $31,981,986.40. Following the transaction, the chairman now owns 85 shares in the company, valued at $60,023.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 229,711 shares of company stock worth $153,905,830 in the last three months. Insiders own 1.76% of the company’s stock.

Netflix Price Performance

Shares of NFLX traded down $6.40 during trading hours on Wednesday, reaching $757.84. 837,244 shares of the stock traded hands, compared to its average volume of 3,717,132. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. Netflix, Inc. has a 52-week low of $395.62 and a 52-week high of $773.00. The company’s 50-day moving average price is $701.48 and its two-hundred day moving average price is $657.11. The company has a market cap of $326.63 billion, a P/E ratio of 52.73, a price-to-earnings-growth ratio of 1.49 and a beta of 1.26.

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.