B. Riley Wealth Advisors Inc. Sells 1,903 Shares of Netflix, Inc. (NASDAQ:NFLX)

B. Riley Wealth Advisors Inc. cut its stake in Netflix, Inc. (NASDAQ:NFLX) by 13.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,195 shares of the Internet television network’s stock after selling 1,903 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Netflix were worth $8,640,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. International Assets Investment Management LLC raised its position in 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 purchasing an additional 5,748,200 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Netflix by 154.7% in the third quarter. Assenagon Asset Management S.A. now owns 1,058,431 shares of the Internet television network’s stock worth $750,713,000 after purchasing an additional 642,920 shares during the last quarter. State Street Corp grew its holdings in Netflix by 2.6% in the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after acquiring an additional 426,740 shares during the last quarter. Jennison Associates LLC increased its holdings in Netflix by 4.7% during the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after purchasing an additional 316,594 shares during the period. Finally, Westfield Capital Management Co. LP bought a new position in shares of Netflix during the third quarter valued at approximately $222,871,000. 80.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. The Goldman Sachs Group set a $750.00 price objective on Netflix in a research note on Friday, October 18th. Citigroup raised their price objective on shares of Netflix from $725.00 to $920.00 and gave the company a “neutral” rating in a research note on Thursday, December 5th. UBS Group raised their price target on shares of Netflix from $750.00 to $825.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Jefferies Financial Group boosted their price objective on shares of Netflix from $780.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Finally, Barclays reiterated an “underweight” rating and set a $550.00 target price on shares of Netflix in a research note on Friday, October 18th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat, Netflix presently has a consensus rating of “Moderate Buy” and a consensus target price of $787.85.

Netflix Stock Down 0.7 %

Shares of NASDAQ NFLX opened at $918.87 on Friday. Netflix, Inc. has a 1 year low of $461.86 and a 1 year high of $941.75. The company has a market capitalization of $392.78 billion, a P/E ratio of 52.00, a P/E/G ratio of 1.80 and a beta of 1.27. The company has a 50 day simple moving average of $814.02 and a 200-day simple moving average of $719.34. 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 released 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. Netflix had a net margin of 20.70% and a return on equity of 35.86%. The business had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.77 billion. On average, equities research analysts predict that Netflix, Inc. will post 19.78 earnings per share for the current year.

Insider Buying and Selling

In other Netflix news, Director Timothy M. Haley sold 11,090 shares of Netflix stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $757.96, for a total value of $8,405,776.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Reed Hastings sold 48,363 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $896.60, for a total value of $43,362,265.80. Following the completion of the transaction, the chairman now directly owns 114 shares in the company, valued at approximately $102,212.40. The trade was a 99.76 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 165,405 shares of company stock worth $129,623,487. 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.