Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Icon Wealth Advisors LLC

Icon Wealth Advisors LLC lessened its position in Netflix, Inc. (NASDAQ:NFLX) by 33.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 4,959 shares of the Internet television network’s stock after selling 2,526 shares during the period. Icon Wealth Advisors LLC’s holdings in Netflix were worth $3,517,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Denver PWM LLC purchased a new position in shares of Netflix during the 2nd quarter worth about $25,000. Proffitt & Goodson Inc. increased its holdings 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 in the last quarter. E Fund Management Hong Kong Co. Ltd. raised its holdings in shares of Netflix by 700.0% during 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 buying an additional 42 shares during the period. AlphaMark Advisors LLC boosted its holdings in Netflix by 642.9% in the 2nd quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock worth $35,000 after acquiring an additional 45 shares during the period. Finally, MidAtlantic Capital Management Inc. acquired a new stake in Netflix in the third quarter valued at approximately $37,000. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NFLX has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft boosted their target price 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. TD Cowen boosted their price objective on shares of Netflix from $820.00 to $835.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Wedbush restated an “outperform” rating and set a $950.00 target price (up from $800.00) on shares of Netflix in a research note on Monday. UBS Group lifted their target price on Netflix from $750.00 to $825.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Finally, Loop Capital increased their price target on Netflix from $750.00 to $800.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $764.82.

Insider Buying and Selling

In other news, Director Anne M. Sweeney sold 589 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $880.00, for a total value of $518,320.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Gregory K. Peters sold 4,392 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $725.00, for a total value of $3,184,200.00. Following the completion of the sale, the chief executive officer now owns 13,090 shares of the company’s stock, valued at $9,490,250. This trade represents a 25.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 185,866 shares of company stock valued at $133,393,921 in the last three months. 1.76% of the stock is currently owned by corporate insiders.

Netflix Stock Performance

Shares of NFLX opened at $896.05 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13. Netflix, Inc. has a 1 year low of $445.73 and a 1 year high of $908.00. The firm has a fifty day moving average of $751.39 and a 200-day moving average of $688.25. The company has a market cap of $383.03 billion, a price-to-earnings ratio of 50.71, a price-to-earnings-growth ratio of 1.68 and a beta of 1.25.

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

About Netflix

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.