Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Hollencrest Capital Management

Hollencrest Capital Management reduced its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 8.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,659 shares of the Internet television network’s stock after selling 150 shares during the quarter. Hollencrest Capital Management’s holdings in Netflix were worth $1,177,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. Denver PWM LLC acquired a new position in Netflix in the 2nd quarter worth $25,000. Proffitt & Goodson Inc. lifted its stake in shares of Netflix by 380.0% in the second 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. boosted its holdings 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 last quarter. AlphaMark Advisors LLC grew its stake in Netflix by 642.9% during the 2nd quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock valued at $35,000 after purchasing an additional 45 shares in the last quarter. Finally, Triad Wealth Partners LLC purchased a new stake in Netflix during the 2nd quarter worth approximately $38,000. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on NFLX shares. Piper Sandler restated an “overweight” rating and issued a $840.00 price target (up previously from $800.00) on shares of Netflix in a research note on Friday, October 18th. Sanford C. Bernstein upped their target price on shares of Netflix from $625.00 to $780.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. StockNews.com raised Netflix from a “hold” rating to a “buy” rating in a report on Tuesday, September 24th. JPMorgan Chase & Co. increased their target price on Netflix from $750.00 to $850.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Finally, Wolfe Research reiterated an “outperform” rating on shares of Netflix in a report on Friday, October 18th. Two equities 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 company. According to MarketBeat, Netflix has an average rating of “Moderate Buy” and an average price target of $748.15.

Insider Activity at Netflix

In related news, Director Jay C. Hoag sold 37,675 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $629.73, for a total transaction of $23,725,077.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Netflix news, Director Jay C. Hoag sold 37,675 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $629.73, for a total value of $23,725,077.75. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Gregory K. Peters sold 4,644 shares of the firm’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $700.00, for a total value of $3,250,800.00. Following the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at $9,163,000. 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 quarter, insiders sold 242,112 shares of company stock valued at $169,954,456. 1.76% of the stock is owned by insiders.

Netflix Stock Performance

Shares of Netflix stock traded down $4.56 during trading on Friday, reaching $791.98. The company’s stock had a trading volume of 450,545 shares, compared to its average volume of 3,669,237. The company has a 50-day moving average price of $717.59 and a two-hundred day moving average price of $667.98. Netflix, Inc. has a fifty-two week low of $434.35 and a fifty-two week high of $799.06. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. The firm has a market cap of $338.54 billion, a PE ratio of 44.79, a P/E/G ratio of 1.46 and a beta of 1.25.

About Netflix

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.