Wrapmanager Inc. Lowers Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Wrapmanager Inc. lessened its holdings in Netflix, Inc. (NASDAQ:NFLX) by 6.3% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 2,779 shares of the Internet television network’s stock after selling 187 shares during the period. Wrapmanager Inc.’s holdings in Netflix were worth $1,971,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Denver PWM LLC bought a new position in shares of Netflix during the 2nd quarter worth approximately $25,000. Proffitt & Goodson Inc. raised its stake in shares of Netflix by 380.0% during the 2nd quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock worth $32,000 after acquiring an additional 38 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. raised its stake in shares of Netflix by 700.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after acquiring an additional 42 shares in the last quarter. AlphaMark Advisors LLC raised its stake in shares of Netflix by 642.9% during the 2nd quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock worth $35,000 after acquiring an additional 45 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. bought a new position in shares of Netflix during the 3rd quarter worth approximately $37,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Insider Activity

In other Netflix news, CEO Theodore A. Sarandos sold 1,278 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $767.05, for a total transaction of $980,289.90. Following the completion of the transaction, the chief executive officer now owns 2,556 shares in the company, valued at $1,960,579.80. The trade was a 33.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Timothy M. Haley sold 11,090 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $757.96, for a total transaction of $8,405,776.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 185,277 shares of company stock valued at $132,875,601. Company insiders own 1.76% of the company’s stock.

Netflix Price Performance

Shares of NFLX stock opened at $847.05 on Tuesday. 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’s 50-day moving average is $739.20 and its two-hundred day moving average is $683.35. Netflix, Inc. has a 12 month low of $445.73 and a 12 month high of $848.45. The company has a market capitalization of $362.08 billion, a PE ratio of 47.94, a price-to-earnings-growth ratio of 1.59 and a beta of 1.25.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.09 by $0.31. The business had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. Analysts predict that Netflix, Inc. will post 19.78 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. BMO Capital Markets reiterated an “outperform” rating and set a $825.00 price objective (up previously from $770.00) on shares of Netflix in a research note on Friday, October 18th. Morgan Stanley upped their price target on shares of Netflix from $820.00 to $830.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Benchmark restated a “sell” rating and set a $545.00 price target on shares of Netflix in a research note on Tuesday, October 15th. StockNews.com upgraded shares of Netflix from a “hold” rating to a “buy” rating in a research note on Tuesday, September 24th. Finally, KeyCorp upped their price target on shares of Netflix from $760.00 to $785.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Two investment 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $753.45.

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.