Summit Place Financial Advisors LLC Decreases Stake in Netflix, Inc. (NASDAQ:NFLX)

Summit Place Financial Advisors LLC cut its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 13.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,131 shares of the Internet television network’s stock after selling 788 shares during the quarter. Netflix makes up approximately 2.0% of Summit Place Financial Advisors LLC’s portfolio, making the stock its 13th largest holding. Summit Place Financial Advisors LLC’s holdings in Netflix were worth $3,639,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NFLX. Gemmer Asset Management LLC boosted its holdings in shares of Netflix by 1.7% in the third quarter. Gemmer Asset Management LLC now owns 1,282 shares of the Internet television network’s stock worth $909,000 after acquiring an additional 22 shares during the period. Family Investment Center Inc. bought a new position in Netflix in the 3rd quarter worth about $376,000. FSA Advisors Inc. bought a new position in Netflix in the 3rd quarter worth about $770,000. Kercheville Advisors LLC grew its holdings in Netflix by 2.1% during the 3rd quarter. Kercheville Advisors LLC now owns 12,140 shares of the Internet television network’s stock valued at $8,611,000 after buying an additional 250 shares in the last quarter. Finally, Montz Harcus Wealth Management LLC increased its position in shares of Netflix by 6.3% during the third quarter. Montz Harcus Wealth Management LLC now owns 488 shares of the Internet television network’s stock valued at $346,000 after buying an additional 29 shares during the period. Institutional investors own 80.93% of the company’s stock.

Insider Activity

In other Netflix news, Director Leslie J. Kilgore sold 358 shares of the business’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $765.00, for a total transaction of $273,870.00. Following the transaction, the director now directly owns 35,262 shares of the company’s stock, valued at approximately $26,975,430. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider David A. Hyman sold 20,656 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total value of $12,499,565.28. Following the completion of the transaction, the insider now owns 31,610 shares in the company, valued at $19,128,159.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Leslie J. Kilgore sold 358 shares of the company’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $765.00, for a total value of $273,870.00. Following the completion of the sale, the director now directly owns 35,262 shares in the company, valued at approximately $26,975,430. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 229,711 shares of company stock valued at $153,905,830. Company insiders own 1.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NFLX. Loop Capital boosted their price objective on shares of Netflix from $750.00 to $800.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Rosenblatt Securities upped their price target on shares of Netflix from $635.00 to $680.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Citigroup increased their price objective on Netflix from $660.00 to $675.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Bank of America upped their target price on Netflix from $740.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $825.00 price target (up previously from $770.00) on shares of Netflix in a research 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $747.70.

Netflix Stock Up 0.1 %

Shares of NASDAQ:NFLX opened at $755.11 on Monday. The stock’s 50-day moving average is $706.67 and its 200 day moving average is $659.88. The company has a market cap of $325.45 billion, a PE ratio of 52.37, a P/E/G ratio of 1.48 and a beta of 1.26. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 0.95. Netflix, Inc. has a 1 year low of $399.41 and a 1 year high of $773.00.

Netflix 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.