Proficio Capital Partners LLC Sells 526 Shares of Netflix, Inc. (NASDAQ:NFLX)

Proficio Capital Partners LLC lessened its stake in Netflix, Inc. (NASDAQ:NFLX) by 25.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,554 shares of the Internet television network’s stock after selling 526 shares during the period. Proficio Capital Partners LLC’s holdings in Netflix were worth $1,102,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC increased its holdings in Netflix by 116,620.0% during the 3rd quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock valued at $4,080,522,000 after purchasing an additional 5,748,200 shares during the period. GQG Partners LLC purchased a new position in Netflix during the 1st quarter valued at about $1,450,476,000. Assenagon Asset Management S.A. grew its holdings in shares of Netflix by 154.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,058,431 shares of the Internet television network’s stock worth $750,713,000 after acquiring an additional 642,920 shares during the period. Jericho Capital Asset Management L.P. purchased a new position in shares of Netflix during the 1st quarter worth approximately $372,293,000. Finally, Swedbank AB purchased a new position in shares of Netflix during the 1st quarter worth approximately $216,538,000. Institutional investors own 80.93% of the company’s stock.

Insider Buying and Selling

In related news, Director Jay C. Hoag sold 37,675 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $629.73, for a total value of $23,725,077.75. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Netflix news, CFO Spencer Adam Neumann sold 433 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $772.10, for a total transaction of $334,319.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jay C. Hoag sold 37,675 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $629.73, for a total value of $23,725,077.75. The disclosure for this sale can be found here. In the last three months, insiders have sold 242,112 shares of company stock valued at $169,954,456. 1.76% of the stock is owned by company insiders.

Netflix Price Performance

NASDAQ NFLX opened at $795.04 on Friday. Netflix, Inc. has a 1-year low of $434.35 and a 1-year high of $799.06. The business’s fifty day moving average price is $721.55 and its 200-day moving average price is $670.54. The stock has a market capitalization of $339.85 billion, a price-to-earnings ratio of 44.99, a PEG ratio of 1.50 and a beta of 1.25. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, topping analysts’ consensus estimates of $5.09 by $0.31. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The company had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.77 billion. On average, equities analysts predict that Netflix, Inc. will post 19.78 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have weighed in on NFLX shares. Jefferies Financial Group upped their target price on Netflix from $780.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, October 18th. The Goldman Sachs Group set a $750.00 target price on Netflix in a report on Friday, October 18th. Piper Sandler reiterated an “overweight” rating and set a $840.00 target price (up previously from $800.00) on shares of Netflix in a report on Friday, October 18th. KeyCorp upped their target price on Netflix from $760.00 to $785.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Finally, StockNews.com upgraded Netflix from a “hold” rating to a “buy” rating in a research note on Tuesday, September 24th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $748.15.

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.