Zweig DiMenna Associates LLC Reduces Position in Netflix, Inc. (NASDAQ:NFLX)

Zweig DiMenna Associates LLC lowered its stake in Netflix, Inc. (NASDAQ:NFLX) by 1.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,694 shares of the Internet television network’s stock after selling 191 shares during the period. Zweig DiMenna Associates LLC’s holdings in Netflix were worth $9,003,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Heartland Bank & Trust Co boosted its stake in shares of Netflix by 0.9% in the second quarter. Heartland Bank & Trust Co now owns 1,770 shares of the Internet television network’s stock valued at $1,195,000 after purchasing an additional 15 shares during the period. Cedrus LLC lifted its holdings in Netflix by 0.8% during the 3rd quarter. Cedrus LLC now owns 1,781 shares of the Internet television network’s stock worth $1,263,000 after buying an additional 15 shares in the last quarter. Meritas Wealth Management LLC boosted its position in Netflix by 2.9% in the 3rd quarter. Meritas Wealth Management LLC now owns 573 shares of the Internet television network’s stock valued at $406,000 after buying an additional 16 shares during the period. Stage Harbor Financial LLC boosted its position in Netflix by 4.8% in the 3rd quarter. Stage Harbor Financial LLC now owns 346 shares of the Internet television network’s stock valued at $250,000 after buying an additional 16 shares during the period. Finally, Compass Ion Advisors LLC grew its stake in shares of Netflix by 4.5% in the third quarter. Compass Ion Advisors LLC now owns 369 shares of the Internet television network’s stock worth $262,000 after acquiring an additional 16 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Netflix

In other Netflix news, Director Leslie J. Kilgore sold 358 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $26,975,430. This represents 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 this link. In other Netflix news, Director Leslie J. Kilgore sold 358 shares of the business’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $765.00, for a total transaction of $273,870.00. Following 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Reed Hastings sold 25,599 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chairman now owns 57 shares of the company’s stock, valued at approximately $35,991.51. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 229,711 shares of company stock worth $153,905,830 over the last 90 days. Company insiders own 1.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on NFLX. Bank of America lifted their target price on Netflix from $740.00 to $800.00 and gave the company a “buy” rating in a report on Friday, October 18th. Wells Fargo & Company lifted their price objective on Netflix from $758.00 to $797.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. StockNews.com raised Netflix from a “hold” rating to a “buy” rating in a research report on Tuesday, September 24th. Rosenblatt Securities raised their target price on shares of Netflix from $635.00 to $680.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Finally, Barclays reiterated an “underweight” rating and set a $550.00 price target on shares of Netflix in a report on Friday, October 18th. 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. Based on data from MarketBeat, Netflix currently has an average rating of “Moderate Buy” and a consensus target price of $747.70.

Netflix Price Performance

Netflix stock opened at $754.55 on Friday. The company has a market cap of $322.54 billion, a P/E ratio of 42.70, a price-to-earnings-growth ratio of 1.48 and a beta of 1.26. Netflix, Inc. has a one year low of $395.62 and a one year high of $773.00. The business has a fifty day moving average of $703.23 and a two-hundred day moving average of $657.75. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.95 and a current ratio of 1.13.

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.