Forum Financial Management LP Trims Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Forum Financial Management LP cut its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 1.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,446 shares of the Internet television network’s stock after selling 48 shares during the period. Forum Financial Management LP’s holdings in Netflix were worth $2,444,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Denver PWM LLC purchased a new position in shares of Netflix during the second quarter worth $25,000. Proffitt & Goodson Inc. grew its position in Netflix by 380.0% in the 2nd quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock valued at $32,000 after acquiring an additional 38 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. increased its stake in Netflix by 700.0% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after purchasing an additional 42 shares during the period. AlphaMark Advisors LLC lifted its position in shares of 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 purchasing an additional 45 shares in the last quarter. Finally, Triad Wealth Partners LLC acquired a new stake in shares of Netflix during the second quarter worth about $38,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Stock Performance

NASDAQ NFLX opened at $756.10 on Monday. The business has a 50 day moving average price of $712.96 and a 200 day moving average price of $664.70. The company has a market capitalization of $323.20 billion, a P/E ratio of 42.79, a PEG ratio of 1.46 and a beta of 1.25. Netflix, Inc. has a 1-year low of $417.10 and a 1-year high of $773.00. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13.

Analysts Set New Price Targets

NFLX has been the topic of several recent research reports. Citigroup upped their target price on shares of Netflix from $660.00 to $675.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Guggenheim upped their price objective on Netflix from $810.00 to $825.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Jefferies Financial Group lifted their target price on Netflix from $780.00 to $800.00 and gave the company a “buy” rating in a report on Friday, October 18th. Rosenblatt Securities boosted their target price on Netflix from $635.00 to $680.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Finally, Wedbush increased their price target on Netflix from $725.00 to $775.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $748.15.

Insider Buying and Selling at Netflix

In related news, Director Richard N. Barton sold 5,698 shares of the business’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $756.00, for a total value of $4,307,688.00. Following the sale, the director now directly owns 246 shares in the company, valued at $185,976. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Gregory K. Peters sold 1,278 shares of the company’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 directly owns 13,090 shares in the company, valued at $8,043,019.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard N. Barton sold 5,698 shares of Netflix stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $756.00, for a total value of $4,307,688.00. Following the sale, the director now owns 246 shares of the company’s stock, valued at approximately $185,976. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 209,810 shares of company stock valued at $142,049,542. Insiders own 1.76% of the company’s stock.

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.