Planning Capital Management Corp Sells 28 Shares of Netflix, Inc. (NASDAQ:NFLX)

Planning Capital Management Corp reduced its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 5.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 477 shares of the Internet television network’s stock after selling 28 shares during the quarter. Planning Capital Management Corp’s holdings in Netflix were worth $338,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Zions Bancorporation N.A. boosted its stake in shares of Netflix by 9.5% during the 3rd quarter. Zions Bancorporation N.A. now owns 13,304 shares of the Internet television network’s stock worth $9,436,000 after acquiring an additional 1,159 shares during the period. KBC Group NV boosted its stake in shares of Netflix by 14.1% during the 3rd quarter. KBC Group NV now owns 122,321 shares of the Internet television network’s stock worth $86,758,000 after acquiring an additional 15,126 shares during the period. Huntington National Bank boosted its stake in shares of Netflix by 2.0% during the 3rd quarter. Huntington National Bank now owns 180,894 shares of the Internet television network’s stock worth $128,303,000 after acquiring an additional 3,551 shares during the period. Plato Investment Management Ltd boosted its stake in shares of Netflix by 14.4% during the 3rd quarter. Plato Investment Management Ltd now owns 10,878 shares of the Internet television network’s stock worth $7,708,000 after acquiring an additional 1,368 shares during the period. Finally, Cable Hill Partners LLC boosted its stake in shares of Netflix by 39.3% during the 3rd quarter. Cable Hill Partners LLC now owns 1,827 shares of the Internet television network’s stock worth $1,296,000 after acquiring an additional 515 shares during the period. 80.93% of the stock is currently owned by institutional investors.

Netflix Price Performance

NASDAQ:NFLX opened at $830.47 on Thursday. The stock has a fifty day moving average of $729.53 and a 200 day moving average of $676.61. Netflix, Inc. has a 52-week low of $445.64 and a 52-week high of $836.99. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13. The firm has a market capitalization of $354.99 billion, a price-to-earnings ratio of 47.00, a P/E/G ratio of 1.58 and a beta of 1.25.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, beating analysts’ consensus estimates of $5.09 by $0.31. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The business had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.77 billion. On average, research analysts expect that Netflix, Inc. will post 19.78 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on NFLX. JPMorgan Chase & Co. lifted their target price on Netflix from $750.00 to $850.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Pivotal Research boosted their price target on Netflix from $900.00 to $925.00 and gave the company a “buy” rating in a research note on Friday, October 18th. TD Cowen boosted their price target on Netflix from $820.00 to $835.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Bank of America boosted their price target on Netflix from $740.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Finally, Oppenheimer boosted their price target on Netflix from $775.00 to $825.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. Two equities research 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 company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $748.15.

Insider Transactions at Netflix

In other news, insider David A. Hyman sold 13,791 shares of Netflix stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $700.00, for a total value of $9,653,700.00. Following the transaction, the insider now owns 31,610 shares in the company, valued at approximately $22,127,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider David A. Hyman sold 13,791 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $700.00, for a total transaction of $9,653,700.00. Following the transaction, the insider now owns 31,610 shares in the company, valued at $22,127,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Leslie J. Kilgore sold 1,372 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $704.81, for a total value of $966,999.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 205,084 shares of company stock worth $146,747,101. Company insiders own 1.76% of the company’s stock.

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.