KMG Fiduciary Partners LLC Trims Holdings in Netflix, Inc. (NASDAQ:NFLX)

KMG Fiduciary Partners LLC trimmed its stake in Netflix, Inc. (NASDAQ:NFLX) by 1.0% during the third quarter, Holdings Channel.com reports. The fund owned 4,897 shares of the Internet television network’s stock after selling 48 shares during the period. KMG Fiduciary Partners LLC’s holdings in Netflix were worth $3,473,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Netflix by 0.4% in the first quarter. Vanguard Group Inc. now owns 36,587,911 shares of the Internet television network’s stock valued at $22,220,936,000 after purchasing an additional 149,341 shares in the last quarter. Jennison Associates LLC grew its holdings in shares of Netflix by 17.0% in the first quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock valued at $3,875,655,000 after purchasing an additional 929,193 shares in the last quarter. Baillie Gifford & Co. grew its holdings 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 purchasing an additional 106,756 shares in the last quarter. Legal & General Group Plc grew its holdings 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 valued at $2,327,738,000 after purchasing an additional 104,332 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings 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 valued at $2,214,488,000 after purchasing an additional 83,762 shares in the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NFLX has been the subject of a number of research reports. Guggenheim lifted their price objective on shares of Netflix from $735.00 to $810.00 and gave the company a “buy” rating in a report on Friday, October 11th. Argus lifted their price objective on shares of Netflix from $660.00 to $767.00 and gave the company a “buy” rating in a report on Tuesday, July 2nd. JPMorgan Chase & Co. boosted their price target on shares of Netflix from $750.00 to $850.00 and gave the stock an “overweight” rating in a report on Friday. Pivotal Research boosted their price target on shares of Netflix from $900.00 to $925.00 and gave the stock a “buy” rating in a report on Friday. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $825.00 price target (up previously from $770.00) on shares of Netflix in a report on Friday. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $739.38.

Insiders Place Their Bets

In other Netflix news, CFO Spencer Adam Neumann sold 433 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $626.19, for a total transaction of $271,140.27. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider David A. Hyman sold 20,656 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 31,610 shares in the company, valued at $19,128,159.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Spencer Adam Neumann sold 433 shares of the stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $626.19, for a total transaction of $271,140.27. The disclosure for this sale can be found here. Insiders have sold 225,167 shares of company stock valued at $150,492,460 in the last ninety days. Insiders own 1.76% of the company’s stock.

Netflix Price Performance

Shares of NASDAQ NFLX opened at $763.89 on Friday. The stock has a market cap of $329.24 billion, a price-to-earnings ratio of 53.01, a PEG ratio of 1.49 and a beta of 1.26. Netflix, Inc. has a 52 week low of $392.26 and a 52 week high of $766.28. The company’s 50-day moving average price is $696.38 and its 200 day moving average price is $654.66. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, beating 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 firm had revenue of $9.56 billion for the quarter, compared to analysts’ expectations of $9.53 billion. During the same period in the prior year, the company earned $3.29 EPS. The firm’s revenue was up 16.8% on a year-over-year basis. As a group, research analysts forecast that Netflix, Inc. will post 19.08 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.