Wittenberg Investment Management Inc. Sells 235 Shares of Netflix, Inc. (NASDAQ:NFLX)

Wittenberg Investment Management Inc. cut its position in Netflix, Inc. (NASDAQ:NFLX) by 9.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,378 shares of the Internet television network’s stock after selling 235 shares during the period. Netflix accounts for approximately 0.6% of Wittenberg Investment Management Inc.’s investment portfolio, making the stock its 27th biggest holding. Wittenberg Investment Management Inc.’s holdings in Netflix were worth $1,687,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its position in shares of Netflix by 116,620.0% during the third quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock valued at $4,080,522,000 after buying an additional 5,748,200 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Netflix by 154.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,058,431 shares of the Internet television network’s stock valued at $750,713,000 after acquiring an additional 642,920 shares in the last quarter. Swedbank AB purchased a new position in Netflix during the 1st quarter worth $216,538,000. Jennison Associates LLC grew its stake in shares of Netflix by 4.7% in the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after acquiring an additional 316,594 shares in the last quarter. Finally, Westfield Capital Management Co. LP purchased a new stake in shares of Netflix in the third quarter valued at about $222,871,000. 80.93% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Morgan Stanley upped their price objective on shares of Netflix from $820.00 to $830.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. JPMorgan Chase & Co. increased their price target on Netflix from $750.00 to $850.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Piper Sandler reissued an “overweight” rating and issued a $840.00 price objective (up previously from $800.00) on shares of Netflix in a research report on Friday, October 18th. Canaccord Genuity Group raised their target price on Netflix from $750.00 to $760.00 and gave the company a “hold” rating in a research report on Friday, October 18th. Finally, Guggenheim boosted their price target on shares of Netflix from $810.00 to $825.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat.com, Netflix has a consensus rating of “Moderate Buy” and an average price target of $764.82.

Netflix Stock Up 0.0 %

Netflix stock opened at $897.79 on Monday. The stock has a market capitalization of $383.77 billion, a PE ratio of 50.81, a price-to-earnings-growth ratio of 1.73 and a beta of 1.25. Netflix, Inc. has a 12 month low of $445.73 and a 12 month high of $908.00. The business has a 50 day simple moving average of $755.40 and a 200-day simple moving average of $691.50. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13.

Netflix (NASDAQ:NFLX) last posted 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 during the quarter, compared to analyst estimates of $9.77 billion. Netflix had a return on equity of 35.86% and a net margin of 20.70%. On average, analysts anticipate that Netflix, Inc. will post 19.78 EPS for the current fiscal year.

Insider Activity at Netflix

In related news, Director Anne M. Sweeney sold 589 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $880.00, for a total value of $518,320.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gregory K. Peters sold 4,392 shares of the business’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $725.00, for a total transaction of $3,184,200.00. Following the completion of the sale, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at approximately $9,490,250. This trade represents a 25.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 185,866 shares of company stock worth $133,393,921. Insiders own 1.76% of the company’s stock.

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.