Audent Global Asset Management LLC Cuts Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Audent Global Asset Management LLC reduced its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 52.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,577 shares of the Internet television network’s stock after selling 2,797 shares during the period. Netflix accounts for about 3.1% of Audent Global Asset Management LLC’s portfolio, making the stock its 11th largest holding. Audent Global Asset Management LLC’s holdings in Netflix were worth $1,828,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Denver PWM LLC purchased a new stake in Netflix during the 2nd quarter worth approximately $25,000. RPg Family Wealth Advisory LLC purchased a new stake in Netflix during the 3rd quarter worth approximately $25,000. Proffitt & Goodson Inc. increased its stake in Netflix by 380.0% during the 2nd 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. increased its stake in 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 worth $34,000 after buying an additional 42 shares in the last quarter. Finally, AlphaMark Advisors LLC increased its stake in 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 buying an additional 45 shares in the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Canaccord Genuity Group upped their price target on Netflix from $750.00 to $760.00 and gave the company a “hold” rating in a research report on Friday, October 18th. Jefferies Financial Group upped their price target on Netflix from $780.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Wells Fargo & Company upped their price target on Netflix from $758.00 to $797.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Benchmark restated a “sell” rating and issued a $545.00 price target on shares of Netflix in a research report on Tuesday, October 15th. Finally, Morgan Stanley upped their price target on Netflix from $820.00 to $830.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat.com, Netflix has an average rating of “Moderate Buy” and an average price target of $764.82.

Insider Activity at Netflix

In related news, Director Anne M. Sweeney sold 589 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $880.00, for a total value of $518,320.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Reed Hastings sold 25,074 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $680.92, for a total value of $17,073,388.08. Following the completion of the transaction, the chairman now directly owns 85 shares in the company, valued at $57,878.20. This trade represents a 99.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 185,866 shares of company stock valued at $133,393,921 over the last quarter. 1.76% of the stock is owned by insiders.

Netflix Stock Up 1.1 %

Shares of NASDAQ NFLX opened at $886.81 on Monday. The stock has a market cap of $379.08 billion, a P/E ratio of 50.19, a PEG ratio of 1.71 and a beta of 1.25. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. Netflix, Inc. has a 12-month low of $445.73 and a 12-month high of $908.00. The business’s fifty day simple moving average is $773.01 and its 200-day simple moving average is $700.75.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.09 by $0.31. The business had revenue of $9.82 billion for 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 EPS for the current fiscal year.

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.