Strengthening Families & Communities LLC Cuts Position in Netflix, Inc. (NASDAQ:NFLX)

Strengthening Families & Communities LLC lessened its holdings in Netflix, Inc. (NASDAQ:NFLX) by 18.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,306 shares of the Internet television network’s stock after selling 290 shares during the quarter. Strengthening Families & Communities LLC’s holdings in Netflix were worth $926,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. International Assets Investment Management LLC grew its holdings 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 worth $4,080,522,000 after purchasing an additional 5,748,200 shares during the period. Baillie Gifford & Co. lifted its stake 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 worth $3,213,825,000 after buying an additional 106,756 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of Netflix by 3.1% in the second 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. Bank of New York Mellon Corp lifted its stake in shares of Netflix by 2.6% in the second 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 buying an additional 83,762 shares in the last quarter. Finally, GQG Partners LLC bought a new position in shares of Netflix in the first quarter worth approximately $1,450,476,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Insider Activity at Netflix

In other Netflix news, CEO Gregory K. Peters sold 4,644 shares of Netflix stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $700.00, for a total value of $3,250,800.00. Following the completion of the transaction, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at $9,163,000. This trade represents a 26.19 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Timothy M. Haley sold 647 shares of Netflix stock in a transaction on Monday, November 11th. The stock was sold at an average price of $800.19, for a total transaction of $517,722.93. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 205,084 shares of company stock valued at $146,747,101. Corporate insiders own 1.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NFLX. Canaccord Genuity Group upped their target price 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. Piper Sandler reiterated an “overweight” rating and issued a $840.00 target price (up previously from $800.00) on shares of Netflix in a research note on Friday, October 18th. Bank of America upped their target price on shares of Netflix from $740.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Oppenheimer upped their target price on shares of Netflix from $775.00 to $825.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. Finally, Needham & Company LLC increased their price objective on shares of Netflix from $700.00 to $800.00 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 given a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat.com, Netflix has an average rating of “Moderate Buy” and an average target price of $748.15.

Netflix Stock Performance

NFLX opened at $823.96 on Monday. The stock has a market capitalization of $352.21 billion, a price-to-earnings ratio of 46.63, a PEG ratio of 1.59 and a beta of 1.25. The company has a fifty day moving average of $735.77 and a 200 day moving average of $681.37. 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 quick ratio of 1.13 and a current ratio of 1.13.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, beating the consensus estimate of $5.09 by $0.31. The company had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. As a group, sell-side analysts forecast that Netflix, Inc. will post 19.78 earnings per share 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.