Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Forum Financial Management LP

Forum Financial Management LP reduced its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 1.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,446 shares of the Internet television network’s stock after selling 48 shares during the period. Forum Financial Management LP’s holdings in Netflix were worth $2,444,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. New World Advisors LLC lifted its holdings in Netflix by 2.0% in the 3rd quarter. New World Advisors LLC now owns 724 shares of the Internet television network’s stock worth $514,000 after purchasing an additional 14 shares during the last quarter. Heartland Bank & Trust Co increased its position in Netflix by 0.9% during the second quarter. Heartland Bank & Trust Co now owns 1,770 shares of the Internet television network’s stock worth $1,195,000 after acquiring an additional 15 shares during the period. Cedrus LLC raised its stake in Netflix by 0.8% during the 3rd quarter. Cedrus LLC now owns 1,781 shares of the Internet television network’s stock valued at $1,263,000 after purchasing an additional 15 shares during the last quarter. Capstone Triton Financial Group LLC grew its position in Netflix by 0.6% in the 3rd quarter. Capstone Triton Financial Group LLC now owns 2,421 shares of the Internet television network’s stock worth $1,717,000 after purchasing an additional 15 shares during the last quarter. Finally, Meritas Wealth Management LLC increased its holdings in shares of Netflix by 2.9% during the 3rd quarter. Meritas Wealth Management LLC now owns 573 shares of the Internet television network’s stock worth $406,000 after purchasing an additional 16 shares during the period. 80.93% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Chairman Reed Hastings sold 45,290 shares of Netflix stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $706.16, for a total value of $31,981,986.40. Following the completion of the sale, the chairman now owns 85 shares of the company’s stock, valued at approximately $60,023.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Gregory K. Peters sold 1,278 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $614.44, for a total value of $785,254.32. Following the completion of the sale, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at approximately $8,043,019.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Reed Hastings sold 45,290 shares of Netflix stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $706.16, for a total transaction of $31,981,986.40. Following the transaction, the chairman now directly owns 85 shares in the company, valued at $60,023.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 209,810 shares of company stock worth $142,049,542 over the last quarter. 1.76% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on NFLX. StockNews.com upgraded Netflix from a “hold” rating to a “buy” rating in a research note on Tuesday, September 24th. Redburn Atlantic boosted their target price on shares of Netflix from $740.00 to $760.00 and gave the company a “buy” rating in a research note on Friday, July 19th. JPMorgan Chase & Co. lifted their price target on Netflix from $750.00 to $850.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Jefferies Financial Group raised their price target on Netflix from $780.00 to $800.00 and gave the company a “buy” rating in a report on Friday, October 18th. Finally, Oppenheimer lifted their target price on shares of Netflix from $775.00 to $825.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $748.15.

Netflix Stock Performance

Shares of Netflix stock opened at $756.10 on Monday. The business has a 50-day simple moving average of $712.96 and a 200 day simple moving average of $664.70. Netflix, Inc. has a one year low of $417.10 and a one year high of $773.00. 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 capitalization of $323.20 billion, a price-to-earnings ratio of 42.79, a PEG ratio of 1.46 and a beta of 1.25.

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.