Lake Street Private Wealth LLC Decreases Holdings in Netflix, Inc. (NASDAQ:NFLX)

Lake Street Private Wealth LLC reduced its holdings in Netflix, Inc. (NASDAQ:NFLX) by 57.7% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,286 shares of the Internet television network’s stock after selling 1,751 shares during the period. Lake Street Private Wealth LLC’s holdings in Netflix were worth $912,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. DigitalBridge Group Inc. increased its position in Netflix by 35.5% during the second quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock worth $24,338,000 after purchasing an additional 9,451 shares during the last quarter. M&G Plc acquired a new stake in Netflix during the first quarter worth about $9,682,000. BSN CAPITAL PARTNERS Ltd increased its position in Netflix by 24.4% during the first quarter. BSN CAPITAL PARTNERS Ltd now owns 250,000 shares of the Internet television network’s stock worth $155,185,000 after purchasing an additional 49,000 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased 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 valued at $55,968,000 after acquiring an additional 30,511 shares during the last quarter. Finally, First Trust Direct Indexing L.P. increased its position in shares of Netflix by 14.9% during the first 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 acquiring an additional 1,342 shares during the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NFLX has been the subject of several recent research reports. Guggenheim raised their price objective on shares of Netflix from $735.00 to $810.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Loop Capital lifted their price target on shares of Netflix from $750.00 to $800.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. China Renaissance initiated coverage on shares of Netflix in a research report on Thursday, September 5th. They set a “hold” rating and a $680.00 price objective for the company. Sanford C. Bernstein boosted their price objective on shares of Netflix from $625.00 to $780.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Netflix from $590.00 to $650.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $747.70.

Netflix Stock Performance

NFLX traded down $6.40 on Wednesday, hitting $757.84. 837,244 shares of the company’s stock were exchanged, compared to its average volume of 3,717,132. The firm has a market cap of $326.63 billion, a PE ratio of 52.73, a P/E/G ratio of 1.49 and a beta of 1.26. Netflix, Inc. has a twelve month low of $395.62 and a twelve month high of $773.00. The stock has a fifty day moving average of $701.48 and a two-hundred day moving average of $657.11. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55.

Insider Buying and Selling at Netflix

In other Netflix news, insider David A. Hyman sold 20,656 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total value of $12,499,565.28. Following the sale, the insider now owns 31,610 shares in the company, valued at approximately $19,128,159.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction of $16,163,976.57. Following the completion of the sale, the chairman now directly owns 57 shares in the company, valued at approximately $35,991.51. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider David A. Hyman sold 20,656 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the completion of the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at $19,128,159.30. 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 229,711 shares of company stock worth $153,905,830. 1.76% of the stock is owned by company 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.