Portside Wealth Group LLC Decreases Holdings in Netflix, Inc. (NASDAQ:NFLX)

Portside Wealth Group LLC trimmed its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 1.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,652 shares of the Internet television network’s stock after selling 205 shares during the period. Netflix accounts for about 1.3% of Portside Wealth Group LLC’s holdings, making the stock its 13th biggest holding. Portside Wealth Group LLC’s holdings in Netflix were worth $7,555,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in NFLX. Sciencast Management LP acquired a new position in Netflix in the 1st quarter worth $524,000. Empowered Funds LLC raised its stake in shares of Netflix by 13.9% in the 1st quarter. Empowered Funds LLC now owns 7,750 shares of the Internet television network’s stock valued at $4,707,000 after purchasing an additional 945 shares in the last quarter. Wealthspire Advisors LLC raised its stake in shares of Netflix by 7.8% in the 1st quarter. Wealthspire Advisors LLC now owns 5,896 shares of the Internet television network’s stock valued at $3,581,000 after purchasing an additional 427 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in shares of Netflix by 21.3% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 4,507 shares of the Internet television network’s stock valued at $2,737,000 after purchasing an additional 790 shares in the last quarter. Finally, Sustainable Insight Capital Management LLC acquired a new stake in shares of Netflix in the 1st quarter valued at about $528,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Netflix

In related news, insider David A. Hyman sold 13,791 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $700.00, for a total value of $9,653,700.00. Following the completion of the sale, the insider now owns 31,610 shares in the company, valued at approximately $22,127,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider David A. Hyman sold 13,791 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $700.00, for a total value of $9,653,700.00. Following the completion of the sale, the insider now owns 31,610 shares in the company, valued at approximately $22,127,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jay C. Hoag sold 37,675 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $629.73, for a total transaction of $23,725,077.75. The disclosure for this sale can be found here. In the last 90 days, insiders sold 242,112 shares of company stock worth $169,954,456. 1.76% of the stock is owned by corporate insiders.

Netflix Stock Up 2.1 %

NFLX stock opened at $796.54 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a market cap of $340.49 billion, a PE ratio of 45.08, a P/E/G ratio of 1.46 and a beta of 1.25. Netflix, Inc. has a 12 month low of $433.68 and a 12 month high of $798.22. The firm has a 50 day simple moving average of $717.59 and a 200 day simple moving average of $667.98.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NFLX. StockNews.com upgraded shares of Netflix from a “hold” rating to a “buy” rating in a research note on Tuesday, September 24th. Sanford C. Bernstein upped their target price on shares of Netflix from $625.00 to $780.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. upped their target price on shares of Netflix from $750.00 to $850.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. China Renaissance assumed coverage on shares of Netflix in a research note on Thursday, September 5th. They issued a “hold” rating and a $680.00 target price on the stock. Finally, Benchmark reiterated a “sell” rating and set a $545.00 price objective on shares of Netflix in a research note on Tuesday, October 15th. Two 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 company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $748.15.

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.