NorthRock Partners LLC Trims Position in Netflix, Inc. (NASDAQ:NFLX)

NorthRock Partners LLC lowered its holdings in Netflix, Inc. (NASDAQ:NFLX) by 31.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,237 shares of the Internet television network’s stock after selling 1,501 shares during the quarter. NorthRock Partners LLC’s holdings in Netflix were worth $2,296,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Denver PWM LLC purchased a new stake in Netflix during the second quarter worth $25,000. Proffitt & Goodson Inc. grew its holdings in Netflix by 380.0% in the second 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 during the period. E Fund Management Hong Kong Co. Ltd. increased its position in shares of Netflix by 700.0% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock valued at $34,000 after buying an additional 42 shares in the last quarter. AlphaMark Advisors LLC raised its position 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 acquiring an additional 45 shares during the period. Finally, Triad Wealth Partners LLC acquired a new position in shares of Netflix during the 2nd quarter worth about $38,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Stock Up 0.4 %

Netflix stock traded up $3.04 during mid-day trading on Tuesday, reaching $758.55. 236,568 shares of the company’s stock were exchanged, compared to its average volume of 3,676,263. The company has a fifty day moving average of $714.30 and a 200-day moving average of $665.72. The company has a market cap of $324.25 billion, a P/E ratio of 42.76, a P/E/G ratio of 1.46 and a beta of 1.25. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. Netflix, Inc. has a twelve month low of $429.61 and a twelve month high of $773.00.

Analyst Upgrades and Downgrades

A number of brokerages have commented on NFLX. Wedbush increased their target price on Netflix from $725.00 to $775.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. JPMorgan Chase & Co. raised their price objective on Netflix from $750.00 to $850.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Wells Fargo & Company upped their target price on shares of Netflix from $758.00 to $797.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Netflix from $590.00 to $650.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Finally, Benchmark restated a “sell” rating and set a $545.00 price target on shares of Netflix in a research report on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $748.15.

Insiders Place Their Bets

In other news, insider David A. Hyman sold 13,791 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $700.00, for a total transaction of $9,653,700.00. Following the completion of the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $22,127,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider David A. Hyman sold 13,791 shares of Netflix stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $700.00, for a total transaction of $9,653,700.00. Following the completion of the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $22,127,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gregory K. Peters sold 4,644 shares of the stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $700.00, for a total value of $3,250,800.00. Following the completion of the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at $9,163,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 229,477 shares of company stock worth $160,300,776 in the last quarter. 1.76% of the stock is owned by company insiders.

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.