NorthRock Partners LLC Trims Stock Position in Netflix, Inc. (NASDAQ:NFLX)

NorthRock Partners LLC decreased its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 31.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 3,237 shares of the Internet television network’s stock after selling 1,501 shares during the quarter. NorthRock Partners LLC’s holdings in Netflix were worth $2,296,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in NFLX. New World Advisors LLC increased its holdings in Netflix by 2.0% in the third quarter. New World Advisors LLC now owns 724 shares of the Internet television network’s stock valued at $514,000 after buying an additional 14 shares during the last quarter. Heartland Bank & Trust Co grew its position in shares of Netflix by 0.9% in the 2nd 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 in the last quarter. Cedrus LLC increased its holdings in shares of Netflix by 0.8% in the 3rd quarter. Cedrus LLC now owns 1,781 shares of the Internet television network’s stock valued at $1,263,000 after acquiring an additional 15 shares during the last quarter. Capstone Triton Financial Group LLC raised its position in shares of Netflix by 0.6% during the 3rd quarter. Capstone Triton Financial Group LLC now owns 2,421 shares of the Internet television network’s stock valued at $1,717,000 after acquiring an additional 15 shares in the last quarter. Finally, Meritas Wealth Management LLC lifted its stake in Netflix by 2.9% during the third 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 last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Insider Activity at Netflix

In other news, Director Leslie J. Kilgore sold 358 shares of the stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $765.00, for a total value of $273,870.00. Following the completion of the sale, the director now directly owns 35,262 shares of the company’s stock, valued at approximately $26,975,430. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Leslie J. Kilgore sold 358 shares of the company’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $765.00, for a total value of $273,870.00. Following the completion of the transaction, the director now directly owns 35,262 shares in the company, valued at approximately $26,975,430. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Reed Hastings sold 41,601 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $758.06, for a total value of $31,536,054.06. Following the completion of the transaction, the chairman now directly owns 85 shares of the company’s stock, valued at approximately $64,435.10. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 229,477 shares of company stock worth $160,300,776. 1.76% of the stock is owned by insiders.

Netflix Stock Up 0.4 %

Shares of NFLX traded up $3.04 during mid-day trading on Tuesday, hitting $758.55. 236,568 shares of the company’s stock were exchanged, compared to its average volume of 3,676,263. The stock has a market cap of $324.25 billion, a price-to-earnings ratio of 42.76, a P/E/G ratio of 1.46 and a beta of 1.25. The firm has a fifty day moving average of $714.30 and a two-hundred day moving average of $665.72. 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, Inc. has a twelve month low of $429.61 and a twelve month high of $773.00.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NFLX. The Goldman Sachs Group set a $750.00 price objective on shares of Netflix in a research note on Friday, October 18th. JPMorgan Chase & Co. increased their price target on Netflix from $750.00 to $850.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Deutsche Bank Aktiengesellschaft raised their price target on Netflix from $590.00 to $650.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. StockNews.com upgraded Netflix from a “hold” rating to a “buy” rating in a research note on Tuesday, September 24th. Finally, Bank of America raised their target price on Netflix from $740.00 to $800.00 and gave the company a “buy” 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 company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $748.15.

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.