Alta Wealth Advisors LLC Sells 26 Shares of Netflix, Inc. (NASDAQ:NFLX)

Alta Wealth Advisors LLC reduced its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 5.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 476 shares of the Internet television network’s stock after selling 26 shares during the period. Alta Wealth Advisors LLC’s holdings in Netflix were worth $338,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. DigitalBridge Group Inc. increased its holdings in Netflix by 35.5% in the 2nd quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock worth $24,338,000 after acquiring an additional 9,451 shares in the last quarter. M&G Plc purchased a new position in shares of Netflix in the first quarter valued at about $9,682,000. BSN CAPITAL PARTNERS Ltd boosted its stake in shares of Netflix by 24.4% in the first quarter. BSN CAPITAL PARTNERS Ltd now owns 250,000 shares of the Internet television network’s stock worth $155,185,000 after acquiring an additional 49,000 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of Netflix by 58.2% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 82,931 shares of the Internet television network’s stock worth $55,968,000 after purchasing an additional 30,511 shares in the last quarter. Finally, First Trust Direct Indexing L.P. raised its stake in Netflix by 14.9% during the 1st quarter. First Trust Direct Indexing L.P. now owns 10,330 shares of the Internet television network’s stock valued at $6,274,000 after purchasing an additional 1,342 shares during the period. 80.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on NFLX shares. Evercore ISI lifted their price objective on shares of Netflix from $750.00 to $775.00 and gave the company an “outperform” rating in a research report on Friday. Deutsche Bank Aktiengesellschaft boosted 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. China Renaissance started coverage on Netflix in a research report on Thursday, September 5th. They set a “hold” rating and a $680.00 price objective for the company. JPMorgan Chase & Co. boosted their target price on Netflix from $750.00 to $850.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Wedbush raised their price target on Netflix from $725.00 to $775.00 and gave the company an “overweight” rating in a report on Thursday. Two equities 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 stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $747.70.

Netflix Stock Performance

Shares of NASDAQ:NFLX opened at $763.89 on Friday. The firm’s 50 day simple moving average is $696.38 and its 200-day simple moving average is $654.94. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95. Netflix, Inc. has a one year low of $392.26 and a one year high of $766.28. The firm has a market cap of $329.24 billion, a PE ratio of 53.01, a price-to-earnings-growth ratio of 1.49 and a beta of 1.26.

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

Insider Transactions at Netflix

In related news, Director Leslie J. Kilgore sold 383 shares of the company’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $730.00, for a total value of $279,590.00. Following the completion of the sale, the director now directly owns 35,262 shares of the company’s stock, valued at $25,741,260. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Spencer Adam Neumann sold 433 shares of Netflix stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $626.19, for a total transaction of $271,140.27. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Leslie J. Kilgore sold 383 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $730.00, for a total transaction of $279,590.00. Following the completion of the transaction, the director now directly owns 35,262 shares of the company’s stock, valued at $25,741,260. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 225,167 shares of company stock valued at $150,492,460. 1.76% of the stock is currently owned by corporate insiders.

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.