Hartford Investment Management Co. Decreases Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Hartford Investment Management Co. decreased its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 2.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 27,020 shares of the Internet television network’s stock after selling 586 shares during the period. Netflix accounts for approximately 0.6% of Hartford Investment Management Co.’s portfolio, making the stock its 23rd biggest position. Hartford Investment Management Co.’s holdings in Netflix were worth $19,164,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Commerzbank Aktiengesellschaft FI lifted its position in shares of Netflix by 42.0% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 7,361 shares of the Internet television network’s stock worth $5,221,000 after purchasing an additional 2,178 shares during the last quarter. Meadow Creek Wealth Advisors LLC lifted its holdings in Netflix by 9.3% during the 3rd quarter. Meadow Creek Wealth Advisors LLC now owns 1,412 shares of the Internet television network’s stock worth $1,001,000 after buying an additional 120 shares during the last quarter. Lecap Asset Management Ltd. purchased a new position in shares of Netflix in the 3rd quarter valued at about $990,000. Marietta Wealth Management LLC raised its position in shares of Netflix by 0.3% during the 3rd quarter. Marietta Wealth Management LLC now owns 12,359 shares of the Internet television network’s stock worth $8,766,000 after acquiring an additional 41 shares in the last quarter. Finally, Global X Japan Co. Ltd. lifted its stake in Netflix by 20.4% during the third quarter. Global X Japan Co. Ltd. now owns 10,199 shares of the Internet television network’s stock worth $7,234,000 after purchasing an additional 1,729 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Analysts Set New Price Targets

NFLX has been the subject of several research analyst reports. Citigroup upped their target price on shares of Netflix from $660.00 to $675.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Argus lifted their target price on Netflix from $660.00 to $767.00 and gave the stock a “buy” rating in a research report on Tuesday, July 2nd. Evercore ISI upped their target price on Netflix from $750.00 to $775.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Jefferies Financial Group lifted their price target on Netflix from $780.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Finally, UBS Group increased their price objective on Netflix from $750.00 to $825.00 and gave the company a “buy” rating in a report on Friday, October 18th. Two 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. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $747.70.

Netflix Price Performance

NASDAQ NFLX traded down $6.35 during trading hours on Wednesday, reaching $757.89. The company’s stock had a trading volume of 250,693 shares, compared to its average volume of 3,714,271. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a market cap of $326.65 billion, a PE ratio of 53.04, a PEG ratio of 1.49 and a beta of 1.26. The company’s 50-day moving average is $701.48 and its two-hundred day moving average is $657.11. Netflix, Inc. has a fifty-two week low of $395.62 and a fifty-two week high of $773.00.

Insider Activity

In related news, CFO Spencer Adam Neumann sold 433 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $626.19, for a total value of $271,140.27. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Chairman Reed Hastings sold 25,599 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $631.43, for a total transaction of $16,163,976.57. Following the sale, the chairman now owns 57 shares in the company, valued at approximately $35,991.51. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Spencer Adam Neumann sold 433 shares of Netflix stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $626.19, for a total transaction of $271,140.27. The disclosure for this sale can be found here. Insiders have sold 229,711 shares of company stock worth $153,905,830 over the last ninety days. 1.76% of the stock is currently owned by insiders.

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.