Neumann Capital Management LLC Decreases Holdings in Netflix, Inc. (NASDAQ:NFLX)

Neumann Capital Management LLC cut its stake in Netflix, Inc. (NASDAQ:NFLX) by 3.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,078 shares of the Internet television network’s stock after selling 35 shares during the quarter. Neumann Capital Management LLC’s holdings in Netflix were worth $765,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of NFLX. Sargent Investment Group LLC acquired a new stake in shares of Netflix in the third quarter valued at about $213,000. Intelligence Driven Advisers LLC grew its position in Netflix by 13.9% in the third quarter. Intelligence Driven Advisers LLC now owns 1,191 shares of the Internet television network’s stock valued at $845,000 after acquiring an additional 145 shares in the last quarter. Ferguson Wellman Capital Management Inc. raised its stake in shares of Netflix by 17.8% during the third quarter. Ferguson Wellman Capital Management Inc. now owns 794 shares of the Internet television network’s stock valued at $563,000 after purchasing an additional 120 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its position in shares of Netflix by 0.9% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 36,370 shares of the Internet television network’s stock worth $25,796,000 after purchasing an additional 323 shares in the last quarter. Finally, Metis Global Partners LLC boosted its stake in shares of Netflix by 2.6% in the third quarter. Metis Global Partners LLC now owns 24,357 shares of the Internet television network’s stock valued at $17,276,000 after purchasing an additional 608 shares during the period. Institutional investors and hedge funds own 80.93% of the company’s stock.

Insider Activity at Netflix

In related news, Director Timothy M. Haley sold 647 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $800.19, for a total value of $517,722.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Reed Hastings sold 25,074 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $680.92, for a total transaction of $17,073,388.08. Following the sale, the chairman now owns 85 shares in the company, valued at $57,878.20. This trade represents a 99.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 205,084 shares of company stock worth $146,747,101 in the last three months. 1.76% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on NFLX. Guggenheim lifted their price target on shares of Netflix from $810.00 to $825.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Macquarie reiterated an “outperform” rating and issued a $795.00 price target on shares of Netflix in a research note on Friday, October 18th. KeyCorp increased their price target on Netflix from $760.00 to $785.00 and gave the company an “overweight” rating in a report on Friday, October 18th. JPMorgan Chase & Co. upped their target price on Netflix from $750.00 to $850.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Finally, Piper Sandler reiterated an “overweight” rating and set a $840.00 target price (up from $800.00) on shares of Netflix in a research note on Friday, October 18th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $748.15.

Netflix Stock Up 0.8 %

NFLX stock opened at $837.26 on Friday. The stock has a market cap of $357.90 billion, a PE ratio of 47.38, a price-to-earnings-growth ratio of 1.60 and a beta of 1.25. The firm’s 50-day simple moving average is $729.53 and its 200 day simple moving average is $676.61. Netflix, Inc. has a fifty-two week low of $445.73 and a fifty-two week high of $841.00. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, beating the consensus estimate of $5.09 by $0.31. The company had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. As a group, sell-side analysts predict that Netflix, Inc. will post 19.78 EPS for the current year.

Netflix Company 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.