Financial Counselors Inc. Cuts Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Financial Counselors Inc. decreased its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 0.2% during the third quarter, according to its most recent filing with the SEC. The firm owned 23,208 shares of the Internet television network’s stock after selling 50 shares during the period. Financial Counselors Inc.’s holdings in Netflix were worth $16,461,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Netflix by 0.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,807,228 shares of the Internet television network’s stock valued at $1,991,083,000 after purchasing an additional 25,060 shares during the period. Public Sector Pension Investment Board grew its position in shares of Netflix by 13.5% in the 3rd quarter. Public Sector Pension Investment Board now owns 18,473 shares of the Internet television network’s stock worth $13,102,000 after buying an additional 2,200 shares during the last quarter. Fiduciary Trust Co grew its position in shares of Netflix by 12.7% in the 3rd quarter. Fiduciary Trust Co now owns 3,010 shares of the Internet television network’s stock worth $2,135,000 after buying an additional 339 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Netflix by 3.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 131,626 shares of the Internet television network’s stock worth $93,358,000 after buying an additional 3,941 shares during the last quarter. Finally, National Wealth Management Group LLC purchased a new position in shares of Netflix in the 3rd quarter worth approximately $901,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Wolfe Research reaffirmed an “outperform” rating on shares of Netflix in a research report on Friday, October 18th. Piper Sandler reaffirmed 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. Rosenblatt Securities lifted their target price on shares of Netflix from $635.00 to $680.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. China Renaissance began coverage on shares of Netflix in a research note on Thursday, September 5th. They issued a “hold” rating and a $680.00 target price for the company. Finally, Wells Fargo & Company lifted their target price on shares of Netflix from $758.00 to $797.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat.com, Netflix presently has a consensus rating of “Moderate Buy” and a consensus target price of $764.82.

Netflix Stock Performance

Shares of NASDAQ NFLX opened at $877.34 on Thursday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13. The company’s fifty day moving average price is $765.83 and its 200 day moving average price is $696.40. The company has a market capitalization of $375.03 billion, a PE ratio of 49.65, a price-to-earnings-growth ratio of 1.67 and a beta of 1.25. Netflix, Inc. has a 1 year low of $445.73 and a 1 year high of $908.00.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, topping analysts’ consensus estimates of $5.09 by $0.31. The company had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. On average, research analysts predict that Netflix, Inc. will post 19.78 earnings per share for the current year.

Insiders Place Their Bets

In other Netflix news, Director Jay C. Hoag sold 43,750 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $687.07, for a total transaction of $30,059,312.50. Following the completion of the transaction, the director now directly owns 95,040 shares in the company, valued at approximately $65,299,132.80. This represents a 31.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider David A. Hyman sold 267 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total transaction of $204,433.89. Following the completion of the sale, the insider now owns 31,610 shares of the company’s stock, valued at $24,202,828.70. This trade represents a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 185,866 shares of company stock worth $133,393,921. Company insiders own 1.76% of the company’s stock.

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.