Moors & Cabot Inc. Sells 620 Shares of Netflix, Inc. (NASDAQ:NFLX)

Moors & Cabot Inc. trimmed its holdings in Netflix, Inc. (NASDAQ:NFLX) by 19.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,520 shares of the Internet television network’s stock after selling 620 shares during the period. Moors & Cabot Inc.’s holdings in Netflix were worth $1,701,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Precision Wealth Strategies LLC grew its stake in shares of Netflix by 3.5% in the 4th quarter. Precision Wealth Strategies LLC now owns 2,444 shares of the Internet television network’s stock worth $1,190,000 after acquiring an additional 83 shares in the last quarter. Gilbert & Cook Inc. boosted its holdings in Netflix by 5.9% during the fourth quarter. Gilbert & Cook Inc. now owns 2,177 shares of the Internet television network’s stock worth $1,060,000 after purchasing an additional 121 shares during the last quarter. Aveo Capital Partners LLC grew its position in Netflix by 6.9% in the 4th quarter. Aveo Capital Partners LLC now owns 667 shares of the Internet television network’s stock worth $325,000 after purchasing an additional 43 shares in the last quarter. Gryphon Financial Partners LLC increased its stake in Netflix by 20.4% in the 4th quarter. Gryphon Financial Partners LLC now owns 3,971 shares of the Internet television network’s stock valued at $1,933,000 after buying an additional 674 shares during the last quarter. Finally, Hillsdale Investment Management Inc. lifted its position in shares of Netflix by 11.2% during the 4th quarter. Hillsdale Investment Management Inc. now owns 2,275 shares of the Internet television network’s stock worth $1,108,000 after buying an additional 230 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Netflix Stock Performance

Shares of NFLX opened at $706.91 on Wednesday. Netflix, Inc. has a 12-month low of $344.73 and a 12-month high of $711.33. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. The company has a market cap of $304.68 billion, a PE ratio of 49.06, a price-to-earnings-growth ratio of 1.40 and a beta of 1.26. The stock has a 50-day moving average price of $660.64 and a 200-day moving average price of $639.15.

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

Insider Transactions at Netflix

In other Netflix news, Director Jay C. Hoag sold 43,750 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $687.07, for a total transaction of $30,059,312.50. Following the sale, the director now owns 95,040 shares in the company, valued at $65,299,132.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Spencer Adam Neumann sold 433 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $626.19, for a total value of $271,140.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jay C. Hoag sold 43,750 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $687.07, for a total value of $30,059,312.50. Following the transaction, the director now owns 95,040 shares in the company, valued at $65,299,132.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 196,798 shares of company stock valued at $129,552,672. Insiders own 1.76% of the company’s stock.

Wall Street Analyst Weigh In

NFLX has been the subject of several recent analyst reports. Redburn Atlantic upped their target price on Netflix from $740.00 to $760.00 and gave the company a “buy” rating in a report on Friday, July 19th. Pivotal Research upped their price objective on Netflix from $800.00 to $900.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Loop Capital lifted their target price on Netflix from $700.00 to $750.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. Argus increased their price target on shares of Netflix from $660.00 to $767.00 and gave the company a “buy” rating in a research report on Tuesday, July 2nd. Finally, StockNews.com upgraded shares of Netflix from a “hold” rating to a “buy” rating in a report on Sunday. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $685.29.

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.