Baker Tilly Wealth Management LLC Reduces Holdings in Netflix, Inc. (NASDAQ:NFLX)

Baker Tilly Wealth Management LLC trimmed its stake in Netflix, Inc. (NASDAQ:NFLX) by 1.7% in the third quarter, HoldingsChannel.com reports. The fund owned 3,215 shares of the Internet television network’s stock after selling 55 shares during the quarter. Netflix comprises approximately 1.0% of Baker Tilly Wealth Management LLC’s portfolio, making the stock its 19th biggest position. Baker Tilly Wealth Management LLC’s holdings in Netflix were worth $2,280,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NFLX. Vanguard Group Inc. grew its stake in shares of Netflix by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 36,587,911 shares of the Internet television network’s stock valued at $22,220,936,000 after buying an additional 149,341 shares during the period. Jennison Associates LLC raised its position in shares of Netflix by 17.0% during the 1st quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock valued at $3,875,655,000 after acquiring an additional 929,193 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of Netflix by 116,620.0% in the 3rd quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock worth $4,080,522,000 after buying an additional 5,748,200 shares during the last quarter. Baillie Gifford & Co. boosted its stake in Netflix by 2.3% in the second quarter. Baillie Gifford & Co. now owns 4,762,069 shares of the Internet television network’s stock valued at $3,213,825,000 after acquiring an additional 106,756 shares during the period. Finally, Legal & General Group Plc boosted its position in Netflix by 3.1% during the 2nd quarter. Legal & General Group Plc now owns 3,449,114 shares of the Internet television network’s stock valued at $2,327,738,000 after purchasing an additional 104,332 shares during the period. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NFLX has been the subject of several recent analyst reports. China Renaissance started coverage on shares of Netflix in a research report on Thursday, September 5th. They issued a “hold” rating and a $680.00 target price for the company. JPMorgan Chase & Co. boosted their price target on Netflix from $750.00 to $850.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Barclays reissued an “underweight” rating and set a $550.00 price target on shares of Netflix in a report on Friday, October 18th. Wedbush upped their price objective on shares of Netflix from $725.00 to $775.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Finally, Macquarie reissued an “outperform” rating and set a $795.00 target price on shares of Netflix in a research note on Friday, October 18th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $747.70.

Insider Activity

In other news, CEO Gregory K. Peters sold 4,186 shares of Netflix stock in a transaction on Friday, October 18th. The stock was sold at an average price of $750.00, for a total transaction of $3,139,500.00. Following the transaction, the chief executive officer now owns 13,090 shares in the company, valued at approximately $9,817,500. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Gregory K. Peters sold 4,186 shares of the stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $750.00, for a total value of $3,139,500.00. Following the completion of the sale, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at approximately $9,817,500. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Spencer Adam Neumann sold 433 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $626.19, for a total value of $271,140.27. The disclosure for this sale can be found here. Insiders sold 229,711 shares of company stock worth $153,905,830 over the last quarter. Corporate insiders own 1.76% of the company’s stock.

Netflix Trading Up 0.6 %

NASDAQ NFLX opened at $759.29 on Monday. The firm’s 50 day moving average price is $706.67 and its two-hundred day moving average price is $659.88. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.95 and a current ratio of 1.13. Netflix, Inc. has a twelve month low of $399.41 and a twelve month high of $773.00. The stock has a market cap of $327.25 billion, a price-to-earnings ratio of 52.37, a PEG ratio of 1.48 and a beta of 1.26.

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.