Rise Advisors LLC Reduces Position in Netflix, Inc. (NASDAQ:NFLX)

Rise Advisors LLC lowered its position in Netflix, Inc. (NASDAQ:NFLX) by 5.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 347 shares of the Internet television network’s stock after selling 20 shares during the period. Rise Advisors LLC’s holdings in Netflix were worth $246,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the business. DigitalBridge Group Inc. lifted its holdings in 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 acquiring an additional 9,451 shares during the period. M&G Plc acquired a new position in shares of Netflix in the 1st quarter valued at $9,682,000. BSN CAPITAL PARTNERS Ltd boosted its holdings 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 in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew 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 valued at $55,968,000 after buying an additional 30,511 shares during the period. Finally, Los Angeles Capital Management LLC increased its holdings in Netflix by 67.1% in the first quarter. Los Angeles Capital Management LLC now owns 549,987 shares of the Internet television network’s stock valued at $334,024,000 after buying an additional 220,854 shares in the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Price Performance

NASDAQ:NFLX opened at $722.79 on Monday. Netflix, Inc. has a 52 week low of $344.73 and a 52 week high of $736.00. The stock’s fifty day moving average is $686.60 and its two-hundred day moving average is $651.60. The company has a market capitalization of $311.52 billion, a P/E ratio of 50.16, a P/E/G ratio of 1.49 and a beta of 1.26. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.55.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.74 by $0.14. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The company had revenue of $9.56 billion for the quarter, compared to analyst estimates of $9.53 billion. During the same period in the prior year, the firm earned $3.29 earnings per share. The business’s revenue for the quarter was up 16.8% compared to the same quarter last year. Equities analysts expect that Netflix, Inc. will post 19.08 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently issued reports on NFLX. Needham & Company LLC reissued a “buy” rating and set a $700.00 target price on shares of Netflix in a research note on Friday, July 19th. Loop Capital raised their price objective on Netflix from $700.00 to $750.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. UBS Group upped their target price on Netflix from $685.00 to $750.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Evercore ISI increased their target price on Netflix from $710.00 to $750.00 and gave the company an “outperform” rating in a research report on Tuesday, August 27th. Finally, Morgan Stanley boosted their price target on shares of Netflix from $780.00 to $820.00 and gave the stock an “overweight” rating in a report on Thursday. 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 data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $702.79.

Insider Buying and Selling

In related news, Director Leslie J. Kilgore sold 383 shares of Netflix stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $730.00, for a total value of $279,590.00. Following the completion of the transaction, the director now owns 35,262 shares in the company, valued at $25,741,260. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Netflix news, Director Leslie J. Kilgore sold 383 shares of the stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $730.00, for a total value of $279,590.00. Following the transaction, the director now directly owns 35,262 shares in the company, valued at $25,741,260. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider David A. Hyman sold 20,656 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the completion of the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $19,128,159.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 225,167 shares of company stock valued at $150,492,460 in the last three months. 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.