Altus Wealth Group LLC Cuts Position in Netflix, Inc. (NASDAQ:NFLX)

Altus Wealth Group LLC lessened its holdings in Netflix, Inc. (NASDAQ:NFLX) by 1.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,158 shares of the Internet television network’s stock after selling 21 shares during the quarter. Altus Wealth Group LLC’s holdings in Netflix were worth $821,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GQG Partners LLC purchased a new stake in Netflix in the first quarter worth approximately $1,450,476,000. Jennison Associates LLC raised its position in Netflix by 17.0% in the first quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock worth $3,875,655,000 after acquiring an additional 929,193 shares during the period. Jericho Capital Asset Management L.P. bought a new position in Netflix in the first quarter worth approximately $372,293,000. Swedbank AB bought a new stake in shares of Netflix during the 1st quarter valued at $216,538,000. Finally, Renaissance Technologies LLC bought a new stake in shares of Netflix during the 2nd quarter valued at $183,365,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Wall Street Analysts Forecast Growth

NFLX has been the topic of a number of research reports. Oppenheimer lifted their price target on shares of Netflix from $775.00 to $825.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Argus lifted their price target on shares of Netflix from $660.00 to $767.00 and gave the company a “buy” rating in a report on Tuesday, July 2nd. Canaccord Genuity Group lifted their price objective on shares of Netflix from $750.00 to $760.00 and gave the stock a “hold” rating in a research note on Friday, October 18th. Wells Fargo & Company lifted their price target on shares of Netflix from $758.00 to $797.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Finally, Morgan Stanley lifted their price objective on shares of Netflix from $820.00 to $830.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Two 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 stock. According to data from MarketBeat, Netflix has a consensus rating of “Moderate Buy” and an average target price of $747.70.

Insider Activity at Netflix

In related news, Chairman Reed Hastings sold 25,599 shares of the firm’s stock in a transaction that occurred 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 sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Netflix news, CEO Gregory K. Peters sold 1,278 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $614.44, for a total transaction of $785,254.32. Following the sale, the chief executive officer now owns 13,090 shares of the company’s stock, valued at approximately $8,043,019.60. This trade represents 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 Netflix stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $631.43, for a total transaction of $16,163,976.57. Following the completion of the transaction, the chairman now directly owns 57 shares in the company, valued at $35,991.51. The trade was 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 229,711 shares of company stock valued at $153,905,830 over the last 90 days. 1.76% of the stock is owned by corporate insiders.

Netflix Stock Down 0.8 %

Shares of NASDAQ NFLX traded down $5.87 during midday trading on Wednesday, hitting $758.37. The company’s stock had a trading volume of 700,758 shares, compared to its average volume of 3,715,836. The business’s fifty day simple moving average is $701.48 and its two-hundred day simple moving average is $657.11. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95. Netflix, Inc. has a 1 year low of $395.62 and a 1 year high of $773.00. The firm has a market capitalization of $326.86 billion, a price-to-earnings ratio of 53.04, a price-to-earnings-growth ratio of 1.49 and a beta of 1.26.

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.