Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Sunpointe LLC

Sunpointe LLC cut its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 5.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 667 shares of the Internet television network’s stock after selling 42 shares during the quarter. Sunpointe LLC’s holdings in Netflix were worth $473,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in NFLX. Denver PWM LLC acquired a new position in Netflix during the second quarter worth about $25,000. Valued Wealth Advisors LLC grew its holdings in shares of Netflix by 80.0% in the 1st quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock worth $27,000 after acquiring an additional 20 shares during the period. Proffitt & Goodson Inc. increased its stake in Netflix by 380.0% in the 2nd quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock valued at $32,000 after purchasing an additional 38 shares in the last quarter. AlphaMark Advisors LLC raised its holdings in Netflix by 642.9% during the second quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock worth $35,000 after purchasing an additional 45 shares during the last quarter. Finally, Indiana Trust & Investment Management CO boosted its position in Netflix by 112.0% during the first quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock worth $32,000 after purchasing an additional 28 shares in the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on NFLX shares. JPMorgan Chase & Co. restated an “overweight” rating and issued a $750.00 price target on shares of Netflix in a research report on Tuesday, October 8th. Sanford C. Bernstein lifted their target price on shares of Netflix from $600.00 to $625.00 and gave the stock a “market perform” rating in a research report on Friday, July 19th. Benchmark reaffirmed a “sell” rating and issued a $545.00 price target on shares of Netflix in a report on Tuesday. Deutsche Bank Aktiengesellschaft lifted their price objective on Netflix from $590.00 to $650.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Finally, Piper Sandler upgraded shares of Netflix from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $650.00 to $800.00 in a report on Monday, October 7th. Two 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.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $704.26.

Netflix Stock Performance

Shares of Netflix stock traded down $5.96 during trading hours on Wednesday, reaching $700.02. The company’s stock had a trading volume of 236,872 shares, compared to its average volume of 3,624,602. Netflix, Inc. has a one year low of $344.73 and a one year high of $736.00. The company’s 50 day simple moving average is $690.82 and its 200 day simple moving average is $653.04. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a market cap of $301.71 billion, a P/E ratio of 48.99, a price-to-earnings-growth ratio of 1.49 and a beta of 1.26.

Netflix (NASDAQ:NFLX) last issued its earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.74 by $0.14. The firm had revenue of $9.56 billion for the quarter, compared to analysts’ expectations of $9.53 billion. Netflix had a net margin of 19.54% and a return on equity of 32.93%. Netflix’s revenue was up 16.8% on a year-over-year basis. During the same quarter last year, the company posted $3.29 earnings per share. As a group, analysts expect that Netflix, Inc. will post 19.08 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Chairman Reed Hastings sold 25,599 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $631.43, for a total transaction of $16,163,976.57. Following the completion of the transaction, the chairman now owns 57 shares of the company’s stock, valued at approximately $35,991.51. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Netflix news, Chairman Reed Hastings sold 25,599 shares of Netflix stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $631.43, for a total transaction of $16,163,976.57. Following the sale, the chairman now owns 57 shares of the company’s stock, valued at $35,991.51. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Gregory K. Peters sold 1,278 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $614.44, for a total value of $785,254.32. Following the transaction, the chief executive officer now owns 13,090 shares of the company’s stock, valued at $8,043,019.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 225,167 shares of company stock valued at $150,492,460 over the last three months. Company 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.