24,235 Netflix, Inc. $NFLX Shares Sold by Welch & Forbes LLC

Welch & Forbes LLC cut its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 13.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 153,282 shares of the Internet television network’s stock after selling 24,235 shares during the quarter. Welch & Forbes LLC’s holdings in Netflix were worth $10,665,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Financial Avengers Inc. increased its holdings in shares of Netflix by 9.8% in the 1st quarter. Financial Avengers Inc. now owns 1,290 shares of the Internet television network’s stock worth $124,000 after buying an additional 115 shares during the last quarter. First Growth Capital LLC lifted its holdings in shares of Netflix by 1.0% during the 1st quarter. First Growth Capital LLC now owns 13,189 shares of the Internet television network’s stock worth $1,260,000 after acquiring an additional 130 shares during the last quarter. Conservest Capital Advisors Inc. lifted its holdings in shares of Netflix by 5.7% during the 1st quarter. Conservest Capital Advisors Inc. now owns 2,445 shares of the Internet television network’s stock worth $235,000 after acquiring an additional 131 shares during the last quarter. Vantage Point Financial LLC grew its position in Netflix by 4.0% in the first quarter. Vantage Point Financial LLC now owns 3,500 shares of the Internet television network’s stock worth $337,000 after acquiring an additional 134 shares in the last quarter. Finally, Wisconsin Wealth Advisors LLC grew its position in Netflix by 2.6% in the second quarter. Wisconsin Wealth Advisors LLC now owns 5,324 shares of the Internet television network’s stock worth $380,000 after acquiring an additional 136 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors.

Netflix Price Performance

Shares of Netflix stock opened at $63.95 on Tuesday. Netflix, Inc. has a 52-week low of $61.39 and a 52-week high of $116.73. The stock has a market capitalization of $262.60 billion, a price-to-earnings ratio of 18.48, a price-to-earnings-growth ratio of 0.97 and a beta of 1.62. The company has a fifty day moving average of $70.68 and a 200-day moving average of $80.86. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.07 and a current ratio of 1.07.

Netflix (NASDAQ:NFLX) last released its earnings results on Tuesday, October 20th. The Internet television network reported $0.87 EPS for the quarter, beating the consensus estimate of $0.82 by $0.05. The company had revenue of $12.87 billion for the quarter, compared to analyst estimates of $12.87 billion. Netflix had a net margin of 29.69% and a return on equity of 42.69%. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.59 EPS. Equities research analysts expect that Netflix, Inc. will post 3.59 EPS for the current year.

Wall Street Analyst Weigh In

NFLX has been the topic of a number of research analyst reports. Guggenheim reduced their target price on Netflix from $80.00 to $78.00 and set a “buy” rating on the stock in a research note on Wednesday, October 21st. JPMorgan Chase & Co. dropped their price target on Netflix from $85.00 to $81.00 and set an “overweight” rating for the company in a research note on Wednesday, October 21st. William Blair reiterated an “outperform” rating on shares of Netflix in a report on Wednesday, October 21st. Phillip Securities lowered Netflix from a “strong-buy” rating to a “moderate buy” rating in a research report on Friday, October 23rd. Finally, Barclays set a $65.00 price objective on Netflix and gave the company an “equal weight” rating in a research report on Wednesday, October 21st. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, seventeen have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $89.14.

Insider Buying and Selling at Netflix

In other news, Director Richard N. Barton sold 720 shares of Netflix stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $75.27, for a total value of $54,194.40. Following the transaction, the director owned 2,460 shares in the company, valued at approximately $185,164.20. The trade was a 22.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David A. Hyman sold 5,727 shares of the stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $64.55, for a total value of $369,677.85. Following the sale, the insider owned 166,100 shares of the company’s stock, valued at $10,721,755. This represents a 3.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 61,712 shares of company stock valued at $4,051,144. 1.24% of the stock is currently owned by insiders.

Netflix Company Profile

Netflix, Inc is an entertainment company that offers subscription-based streaming of television series, films, documentaries and other programming. Its service also includes mobile games and, in some markets, advertising-supported viewing plans. Netflix produces and licenses content, including titles made under its Netflix brand.

Founded in 1997 by Reed Hastings and Marc Randolph as a DVD-by-mail rental business, the company launched its streaming service in 2007 and later expanded into original programming.