Adell Harriman & Carpenter Inc. Trims Position in Netflix, Inc. (NASDAQ:NFLX)

Adell Harriman & Carpenter Inc. cut its holdings in Netflix, Inc. (NASDAQ:NFLX) by 2.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,481 shares of the Internet television network’s stock after selling 45 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in Netflix were worth $1,050,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. DigitalBridge Group Inc. raised its position in shares of Netflix by 35.5% in the 2nd quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock worth $24,338,000 after buying an additional 9,451 shares during the period. M&G Plc purchased a new stake in shares of Netflix during the first quarter valued at approximately $9,682,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of Netflix by 58.2% in 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 purchasing an additional 30,511 shares during the period. Forsta AP Fonden grew its holdings in Netflix by 7.7% during the 3rd quarter. Forsta AP Fonden now owns 121,400 shares of the Internet television network’s stock valued at $86,105,000 after purchasing an additional 8,700 shares in the last quarter. Finally, First Trust Direct Indexing L.P. grew its holdings in Netflix by 14.9% during the 1st quarter. First Trust Direct Indexing L.P. now owns 10,330 shares of the Internet television network’s stock valued at $6,274,000 after purchasing an additional 1,342 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Insiders Place Their Bets

In other news, Chairman Reed Hastings sold 25,599 shares of Netflix stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $631.43, for a total value of $16,163,976.57. Following the transaction, the chairman now owns 57 shares of the company’s stock, valued at $35,991.51. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Chairman Reed Hastings sold 25,599 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $631.43, for a total value of $16,163,976.57. Following the transaction, the chairman now directly owns 57 shares in the company, valued at approximately $35,991.51. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Richard N. Barton sold 5,698 shares of the business’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $756.00, for a total transaction of $4,307,688.00. Following the transaction, the director now directly owns 246 shares of the company’s stock, valued at approximately $185,976. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 235,409 shares of company stock valued at $158,213,518 over the last 90 days. 1.76% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

NFLX has been the subject of a number of analyst reports. Barclays reissued an “underweight” rating and issued a $550.00 price objective on shares of Netflix in a research report on Friday, October 18th. The Goldman Sachs Group set a $750.00 price objective on Netflix in a research note on Friday, October 18th. KeyCorp increased their target price on Netflix from $760.00 to $785.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Guggenheim upped their price target on shares of Netflix from $810.00 to $825.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Argus boosted their target price on shares of Netflix from $660.00 to $767.00 and gave the stock a “buy” rating in a research report on Tuesday, July 2nd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $748.15.

Netflix Price Performance

NASDAQ NFLX opened at $759.44 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a market cap of $324.63 billion, a P/E ratio of 42.98, a price-to-earnings-growth ratio of 1.45 and a beta of 1.26. The stock’s 50-day moving average is $709.10 and its two-hundred day moving average is $661.69. Netflix, Inc. has a fifty-two week low of $399.41 and a fifty-two week high of $773.00.

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.