Drive Wealth Management LLC Reduces Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Drive Wealth Management LLC reduced its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 1.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,503 shares of the Internet television network’s stock after selling 25 shares during the quarter. Drive Wealth Management LLC’s holdings in Netflix were worth $1,066,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the business. Denver PWM LLC acquired a new stake in Netflix during the second quarter worth approximately $25,000. Proffitt & Goodson Inc. increased 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 valued at $32,000 after acquiring an additional 38 shares during the period. E Fund Management Hong Kong Co. Ltd. raised its position in 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 valued at $34,000 after purchasing an additional 42 shares during the last quarter. AlphaMark Advisors LLC boosted its stake in Netflix by 642.9% during 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, Triad Wealth Partners LLC purchased a new stake in shares of Netflix in the second quarter valued at about $38,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Price Performance

NFLX stock opened at $823.96 on Monday. The company has a market cap of $352.21 billion, a PE ratio of 46.63, a price-to-earnings-growth ratio of 1.59 and a beta of 1.25. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. The stock has a 50-day moving average price of $735.77 and a two-hundred day moving average price of $681.37. Netflix, Inc. has a 12-month low of $445.73 and a 12-month high of $841.00.

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. Netflix had a net margin of 20.70% and a return on equity of 35.86%. The business had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.77 billion. As a group, research analysts predict that Netflix, Inc. will post 19.78 EPS for the current year.

Wall Street Analyst Weigh In

NFLX has been the topic of several recent research reports. Pivotal Research boosted their price target on Netflix from $900.00 to $925.00 and gave the company a “buy” rating in a research report on Friday, October 18th. China Renaissance began coverage on shares of Netflix in a report on Thursday, September 5th. They set a “hold” rating and a $680.00 target price for the company. StockNews.com raised shares of Netflix from a “hold” rating to a “buy” rating in a report on Tuesday, September 24th. TD Cowen increased their price target on shares of Netflix from $820.00 to $835.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Finally, Benchmark restated a “sell” rating and set a $545.00 price objective on shares of Netflix in a research report on Tuesday, October 15th. Two 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 company. According to MarketBeat.com, Netflix currently has a consensus rating of “Moderate Buy” and an average target price of $748.15.

Insiders Place Their Bets

In related news, Director Timothy M. Haley sold 647 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $800.19, for a total value of $517,722.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Gregory K. Peters sold 4,644 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 13,090 shares of the company’s stock, valued at approximately $9,163,000. This trade represents a 26.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 205,084 shares of company stock worth $146,747,101 over the last quarter. 1.76% of the stock is owned by corporate insiders.

Netflix 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.