Occidental Asset Management LLC Decreases Stake in Netflix, Inc. (NASDAQ:NFLX)

Occidental Asset Management LLC cut its stake in Netflix, Inc. (NASDAQ:NFLX) by 2.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 751 shares of the Internet television network’s stock after selling 17 shares during the period. Occidental Asset Management LLC’s holdings in Netflix were worth $533,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Denver PWM LLC purchased a new stake in Netflix in the second quarter valued at approximately $25,000. Valued Wealth Advisors LLC boosted 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 valued at $27,000 after acquiring an additional 20 shares during the last quarter. Scarborough Advisors LLC acquired a new stake in shares of Netflix in the fourth quarter worth $32,000. Indiana Trust & Investment Management CO boosted its holdings in Netflix by 112.0% in the first quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock valued at $32,000 after purchasing an additional 28 shares during the last quarter. Finally, Proffitt & Goodson Inc. raised its stake in shares of Netflix by 380.0% during the 2nd quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock valued at $32,000 after buying an additional 38 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Price Performance

Netflix stock opened at $705.98 on Wednesday. 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 50-day moving average price of $690.82 and a 200 day moving average price of $653.04. Netflix, Inc. has a 12-month low of $344.73 and a 12-month high of $736.00. The stock has a market cap of $304.28 billion, a P/E ratio of 48.99, a PEG ratio of 1.49 and a beta of 1.26.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, beating the consensus estimate of $4.74 by $0.14. The firm had revenue of $9.56 billion for the quarter, compared to analyst estimates of $9.53 billion. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The business’s revenue for the quarter was up 16.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.29 EPS. Sell-side analysts anticipate that Netflix, Inc. will post 19.08 earnings per share for the current year.

Insider Activity

In other Netflix news, Chairman Reed Hastings sold 25,599 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $631.43, for a total value of $16,163,976.57. Following the transaction, the chairman now owns 57 shares of the company’s stock, valued at $35,991.51. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, 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 sale, the chief executive officer now owns 13,090 shares in the company, valued at approximately $8,043,019.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Reed Hastings sold 25,599 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $631.43, for a total value of $16,163,976.57. Following the transaction, the chairman now owns 57 shares of the company’s stock, valued at $35,991.51. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 225,167 shares of company stock valued at $150,492,460 in the last quarter. Insiders own 1.76% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on NFLX shares. Redburn Atlantic raised their target price on Netflix from $740.00 to $760.00 and gave the stock a “buy” rating in a report on Friday, July 19th. The Goldman Sachs Group lifted their target price on shares of Netflix from $650.00 to $659.00 and gave the company a “neutral” rating in a report on Friday, July 19th. TD Cowen increased their price target on shares of Netflix from $775.00 to $820.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Loop Capital lifted their price objective on shares of Netflix from $700.00 to $750.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. Finally, Evercore ISI increased their target price on shares of Netflix from $710.00 to $750.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 27th. 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 data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $702.79.

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.