Fairscale Capital LLC Sells 52 Shares of Netflix, Inc. (NASDAQ:NFLX)

Fairscale Capital LLC cut its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 3.7% in the third quarter, Holdings Channel reports. The institutional investor owned 1,360 shares of the Internet television network’s stock after selling 52 shares during the period. Netflix comprises 0.8% of Fairscale Capital LLC’s portfolio, making the stock its 26th biggest holding. Fairscale Capital LLC’s holdings in Netflix were worth $965,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of NFLX. Denver PWM LLC bought a new position in shares of Netflix during the second quarter worth about $25,000. Proffitt & Goodson Inc. grew its holdings in shares of Netflix by 380.0% during the second quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock worth $32,000 after buying an additional 38 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. grew its stake in Netflix by 700.0% in the third 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 in the last quarter. AlphaMark Advisors LLC grew its stake in Netflix by 642.9% in the second 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 in the last quarter. Finally, MidAtlantic Capital Management Inc. bought a new position in Netflix in the third quarter valued at approximately $37,000. 80.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on NFLX. TD Cowen raised 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. The Goldman Sachs Group set a $750.00 price target on Netflix in a research note on Friday, October 18th. Sanford C. Bernstein raised their price target on Netflix from $625.00 to $780.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. Bank of America raised their price target on Netflix from $800.00 to $1,000.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Morgan Stanley raised their price target on Netflix from $820.00 to $830.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $764.82.

Insider Buying and Selling at Netflix

In other news, CEO Gregory K. Peters sold 4,392 shares of Netflix stock in a transaction 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 transaction, the chief executive officer now owns 13,090 shares in the company, valued at approximately $9,490,250. This trade represents a 25.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Theodore A. Sarandos sold 1,278 shares of Netflix stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $767.05, for a total value of $980,289.90. Following the completion of the transaction, the chief executive officer now owns 2,556 shares in the company, valued at approximately $1,960,579.80. The trade was a 33.33 % decrease in their position. 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. Corporate insiders own 1.76% of the company’s stock.

Netflix Price Performance

Shares of NASDAQ NFLX opened at $897.79 on Friday. The stock has a market capitalization of $383.77 billion, a PE ratio of 50.81, a P/E/G ratio of 1.73 and a beta of 1.25. 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 business has a fifty day moving average price of $755.40 and a two-hundred day moving average price of $690.93. Netflix, Inc. has a fifty-two week low of $445.73 and a fifty-two week high of $908.00.

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