Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Balboa Wealth Partners

Balboa Wealth Partners reduced its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 14.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,197 shares of the Internet television network’s stock after selling 369 shares during the quarter. Balboa Wealth Partners’ holdings in Netflix were worth $1,558,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Denver PWM LLC acquired a new position in Netflix in the second quarter valued at $25,000. Proffitt & Goodson Inc. increased its stake in Netflix by 380.0% in the second quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock valued at $32,000 after purchasing an additional 38 shares during the period. E Fund Management Hong Kong Co. Ltd. increased its stake in Netflix by 700.0% in the third 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 period. AlphaMark Advisors LLC boosted its holdings in shares of Netflix by 642.9% in the second quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock valued at $35,000 after acquiring an additional 45 shares in the last quarter. Finally, Triad Wealth Partners LLC purchased a new stake in shares of Netflix in the second quarter valued at about $38,000. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NFLX. Bank of America lifted their target price on shares of Netflix from $740.00 to $800.00 and gave the company a “buy” rating in a report on Friday, October 18th. Loop Capital boosted their price objective on shares of Netflix from $750.00 to $800.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. StockNews.com raised shares of Netflix from a “hold” rating to a “buy” rating in a report on Tuesday, September 24th. Sanford C. Bernstein boosted their price objective on shares of Netflix from $625.00 to $780.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Netflix from $590.00 to $650.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $748.15.

Insider Transactions at Netflix

In other Netflix news, Director Timothy M. Haley sold 647 shares of Netflix stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $800.19, for a total transaction of $517,722.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David A. Hyman sold 267 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total value of $204,433.89. Following the completion of the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $24,202,828.70. This represents a 0.84 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 205,084 shares of company stock valued at $146,747,101. 1.76% of the stock is currently owned by insiders.

Netflix Trading Up 0.8 %

Shares of NFLX stock opened at $837.26 on Friday. Netflix, Inc. has a 12-month low of $445.73 and a 12-month high of $841.00. The company has a market capitalization of $357.90 billion, a P/E ratio of 47.38, a P/E/G ratio of 1.60 and a beta of 1.25. The firm has a 50-day moving average price of $729.53 and a 200 day moving average price of $676.61. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62.

Netflix (NASDAQ:NFLX) last released 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. The company had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. Research analysts forecast that Netflix, Inc. will post 19.78 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.