Netflix, Inc. (NASDAQ:NFLX) Stock Position Lowered by Edgestream Partners L.P.

Edgestream Partners L.P. lowered its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 7.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,690 shares of the Internet television network’s stock after selling 674 shares during the quarter. Edgestream Partners L.P.’s holdings in Netflix were worth $6,164,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Denver PWM LLC acquired a new position in shares of Netflix in the 2nd quarter worth approximately $25,000. RPg Family Wealth Advisory LLC acquired a new position in Netflix in the third quarter worth approximately $25,000. Proffitt & Goodson Inc. increased its holdings in shares of Netflix by 380.0% in the second quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock valued at $32,000 after buying an additional 38 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. lifted its position 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 acquiring an additional 42 shares during the last quarter. Finally, AlphaMark Advisors LLC boosted its stake in shares of Netflix by 642.9% during 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 in the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Netflix

In other news, insider David A. Hyman sold 267 shares of Netflix stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total value of $204,433.89. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Reed Hastings sold 45,290 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $706.16, for a total value of $31,981,986.40. Following the sale, the chairman now owns 85 shares of the company’s stock, valued at approximately $60,023.60. The trade was a 99.81 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 185,866 shares of company stock worth $133,393,921. 1.76% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on NFLX. Benchmark reaffirmed a “sell” rating and set a $545.00 target price on shares of Netflix in a report on Tuesday, October 15th. Oppenheimer upped their price objective on shares of Netflix from $775.00 to $825.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. Canaccord Genuity Group lifted their target price on shares of Netflix from $750.00 to $760.00 and gave the stock a “hold” rating in a research report on Friday, October 18th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Netflix from $590.00 to $650.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Netflix from $750.00 to $850.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Two equities 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 company presently has a consensus rating of “Moderate Buy” and a consensus target price of $764.82.

Netflix Price Performance

NASDAQ NFLX opened at $886.81 on Friday. The firm has a market cap of $379.07 billion, a P/E ratio of 50.19, a price-to-earnings-growth ratio of 1.69 and a beta of 1.25. The stock’s 50-day moving average is $773.01 and its two-hundred day moving average is $699.54. Netflix, Inc. has a fifty-two week low of $445.73 and a fifty-two week high of $908.00. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, topping the consensus estimate of $5.09 by $0.31. The firm had revenue of $9.82 billion during the quarter, compared to analyst estimates of $9.77 billion. Netflix had a return on equity of 35.86% and a net margin of 20.70%. On average, analysts anticipate 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.