Ithaka Group LLC Sells 258 Shares of Netflix, Inc. (NASDAQ:NFLX)

Ithaka Group LLC reduced its stake in Netflix, Inc. (NASDAQ:NFLX) by 1.1% during the 3rd quarter, Holdings Channel reports. The fund owned 23,145 shares of the Internet television network’s stock after selling 258 shares during the period. Netflix makes up about 3.1% of Ithaka Group LLC’s investment portfolio, making the stock its 12th largest position. Ithaka Group LLC’s holdings in Netflix were worth $16,416,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. Denver PWM LLC acquired a new stake in shares of Netflix during the 2nd quarter worth approximately $25,000. Proffitt & Goodson Inc. lifted its stake in Netflix by 380.0% in the 2nd quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock valued at $32,000 after purchasing an additional 38 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. lifted its stake in Netflix by 700.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock valued at $34,000 after purchasing an additional 42 shares during the last quarter. AlphaMark Advisors LLC lifted its stake in Netflix by 642.9% in the 2nd quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock valued at $35,000 after purchasing an additional 45 shares during the last quarter. Finally, MidAtlantic Capital Management Inc. bought a new position in shares of Netflix during the third quarter valued at $37,000. 80.93% of the stock is owned by institutional investors.

Netflix Stock Up 1.4 %

Shares of Netflix stock opened at $896.05 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 company has a 50-day moving average of $751.39 and a 200 day moving average of $688.25. The firm has a market cap of $383.03 billion, a price-to-earnings ratio of 50.71, a PEG ratio of 1.68 and a beta of 1.25. Netflix, Inc. has a 1 year low of $445.73 and a 1 year high of $908.00.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.09 by $0.31. The company had revenue of $9.82 billion during the quarter, compared to analyst estimates of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. As a group, sell-side analysts anticipate that Netflix, Inc. will post 19.78 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

NFLX has been the subject of a number of analyst reports. Wells Fargo & Company lifted their target price 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. Rosenblatt Securities boosted their price target on shares of Netflix from $635.00 to $680.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. JPMorgan Chase & Co. lifted their price objective on shares of Netflix from $750.00 to $850.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Netflix from $590.00 to $650.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Finally, KeyCorp boosted their price target on shares of Netflix from $760.00 to $785.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat, Netflix currently has a consensus rating of “Moderate Buy” and an average price target of $764.82.

Insider Activity at Netflix

In other news, Chairman Reed Hastings sold 25,074 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $680.92, for a total transaction of $17,073,388.08. Following the sale, the chairman now owns 85 shares of the company’s stock, valued at $57,878.20. This trade represents a 99.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider David A. Hyman sold 267 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total transaction of $204,433.89. Following the sale, the insider now directly owns 31,610 shares in the company, valued at approximately $24,202,828.70. The trade was a 0.84 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 185,866 shares of company stock valued at $133,393,921. 1.76% of the stock is owned by 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.