Evolution Wealth Advisors LLC Sells 85 Shares of Netflix, Inc. (NASDAQ:NFLX)

Evolution Wealth Advisors LLC lowered its position in Netflix, Inc. (NASDAQ:NFLX) by 14.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 515 shares of the Internet television network’s stock after selling 85 shares during the quarter. Evolution Wealth Advisors LLC’s holdings in Netflix were worth $365,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC lifted its stake 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 purchasing an additional 5,748,200 shares during the last quarter. Baillie Gifford & Co. lifted its position in shares of Netflix by 2.3% in 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. Legal & General Group Plc boosted its stake 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. Bank of New York Mellon Corp increased its holdings 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 worth $2,214,488,000 after acquiring an additional 83,762 shares during the last quarter. Finally, GQG Partners LLC bought a new stake in Netflix in the 1st quarter valued at $1,450,476,000. Institutional investors own 80.93% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on NFLX. Piper Sandler reaffirmed an “overweight” rating and set a $840.00 price objective (up from $800.00) on shares of Netflix in a research report on Friday, October 18th. Guggenheim raised their target price on shares of Netflix from $810.00 to $825.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Morgan Stanley upped their price target on shares of Netflix from $820.00 to $830.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. The Goldman Sachs Group set a $750.00 price target on shares of Netflix in a report on Friday, October 18th. Finally, Evercore ISI boosted their price objective on Netflix from $750.00 to $775.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $748.15.

Insider Transactions at Netflix

In other Netflix news, insider David A. Hyman sold 267 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total value of $204,433.89. Following the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $24,202,828.70. The trade was a 0.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Reed Hastings sold 45,290 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $706.16, for a total transaction of $31,981,986.40. Following the sale, the chairman now directly owns 85 shares of the company’s stock, valued at approximately $60,023.60. This trade represents a 99.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 205,084 shares of company stock worth $146,747,101 over the last three months. 1.76% of the stock is owned by company insiders.

Netflix Stock Performance

Shares of Netflix stock opened at $823.96 on Friday. The company’s 50 day moving average price is $735.77 and its two-hundred day moving average price is $679.56. The firm has a market capitalization of $352.21 billion, a P/E ratio of 46.63, a P/E/G ratio of 1.60 and a beta of 1.25. Netflix, Inc. has a fifty-two week low of $445.73 and a fifty-two week high of $841.00. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data 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 net margin of 20.70% and a return on equity of 35.86%. The business had revenue of $9.82 billion during the quarter, compared to analyst estimates of $9.77 billion. On average, equities analysts forecast that Netflix, Inc. will post 19.78 earnings per share for the current fiscal 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.