Netflix, Inc. (NASDAQ:NFLX) Stake Reduced by Brown Financial Advisors

Brown Financial Advisors reduced its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 25.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,334 shares of the Internet television network’s stock after selling 446 shares during the quarter. Brown Financial Advisors’ holdings in Netflix were worth $946,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. New World Advisors LLC grew its stake in Netflix by 2.0% during the 3rd quarter. New World Advisors LLC now owns 724 shares of the Internet television network’s stock worth $514,000 after buying an additional 14 shares during the last quarter. Heartland Bank & Trust Co grew its stake in Netflix by 0.9% during the 2nd quarter. Heartland Bank & Trust Co now owns 1,770 shares of the Internet television network’s stock worth $1,195,000 after buying an additional 15 shares during the last quarter. Cedrus LLC boosted its position in Netflix by 0.8% during the 3rd quarter. Cedrus LLC now owns 1,781 shares of the Internet television network’s stock worth $1,263,000 after acquiring an additional 15 shares during the period. Capstone Triton Financial Group LLC boosted its position in Netflix by 0.6% during the 3rd quarter. Capstone Triton Financial Group LLC now owns 2,421 shares of the Internet television network’s stock worth $1,717,000 after acquiring an additional 15 shares during the period. Finally, Meritas Wealth Management LLC boosted its position in Netflix by 2.9% during the 3rd quarter. Meritas Wealth Management LLC now owns 573 shares of the Internet television network’s stock worth $406,000 after acquiring an additional 16 shares during the period. 80.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on NFLX shares. Wells Fargo & Company boosted their price target on Netflix from $758.00 to $797.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. StockNews.com upgraded Netflix from a “hold” rating to a “buy” rating in a research report on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft boosted their price target on Netflix from $590.00 to $650.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. TD Cowen boosted their price target on Netflix from $820.00 to $835.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Finally, JPMorgan Chase & Co. boosted their price target on Netflix from $750.00 to $850.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $783.00.

Insiders Place Their Bets

In other Netflix news, Director Jay C. Hoag sold 43,750 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $687.07, for a total value of $30,059,312.50. Following the transaction, the director now directly owns 95,040 shares of the company’s stock, valued at $65,299,132.80. This represents a 31.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Gregory K. Peters sold 4,392 shares of the company’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $725.00, for a total value of $3,184,200.00. Following the completion of the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at approximately $9,490,250. The trade was a 25.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 209,155 shares of company stock valued at $159,682,799 in the last three months. Insiders own 1.76% of the company’s stock.

Netflix Stock Down 0.0 %

NASDAQ:NFLX opened at $913.35 on Wednesday. The firm has a market capitalization of $390.42 billion, a price-to-earnings ratio of 51.69, a PEG ratio of 1.80 and a beta of 1.27. Netflix, Inc. has a 1-year low of $457.21 and a 1-year high of $935.27. 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 business’s fifty day moving average price is $797.01 and its 200 day moving average price is $712.57.

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

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.