Fortis Capital Management LLC Trims Stake in Netflix, Inc. (NASDAQ:NFLX)

Fortis Capital Management LLC trimmed its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 2.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,066 shares of the Internet television network’s stock after selling 234 shares during the period. Netflix comprises 1.4% of Fortis Capital Management LLC’s holdings, making the stock its 16th biggest holding. Fortis Capital Management LLC’s holdings in Netflix were worth $7,139,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Leo Wealth LLC boosted its position in Netflix by 31.3% in the 1st quarter. Leo Wealth LLC now owns 1,321 shares of the Internet television network’s stock valued at $804,000 after buying an additional 315 shares during the period. ProVise Management Group LLC bought a new stake in shares of Netflix during the first quarter valued at approximately $239,000. Trillium Asset Management LLC boosted its holdings in shares of Netflix by 15.4% in the first quarter. Trillium Asset Management LLC now owns 35,131 shares of the Internet television network’s stock valued at $21,336,000 after purchasing an additional 4,680 shares during the period. Brighton Jones LLC grew its stake in Netflix by 2.3% in the first quarter. Brighton Jones LLC now owns 10,391 shares of the Internet television network’s stock worth $6,311,000 after purchasing an additional 237 shares in the last quarter. Finally, Great Lakes Retirement Inc. increased its holdings in Netflix by 1.7% during the 1st quarter. Great Lakes Retirement Inc. now owns 4,268 shares of the Internet television network’s stock worth $2,592,000 after purchasing an additional 73 shares during the period. Institutional investors own 80.93% of the company’s stock.

Netflix Price Performance

NASDAQ:NFLX opened at $830.47 on Thursday. 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, Inc. has a 52 week low of $445.64 and a 52 week high of $836.99. The stock’s 50-day moving average price is $726.52 and its 200-day moving average price is $675.52. The stock has a market capitalization of $354.99 billion, a PE ratio of 47.00, a price-to-earnings-growth ratio of 1.58 and a beta of 1.25.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data 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. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The company had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.77 billion. As a group, equities analysts expect that Netflix, Inc. will post 19.78 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on NFLX shares. KeyCorp upped their price objective on shares of Netflix from $760.00 to $785.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Bank of America boosted their price objective on shares of Netflix from $740.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. UBS Group increased their target price on Netflix from $750.00 to $825.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Jefferies Financial Group raised their price objective on Netflix from $780.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Finally, Wolfe Research reiterated an “outperform” rating on shares of Netflix in a 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 issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $748.15.

Insider Buying and Selling at Netflix

In other news, insider David A. Hyman sold 13,791 shares of the stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $700.00, for a total value of $9,653,700.00. Following the completion of the sale, the insider now directly owns 31,610 shares in the company, valued at $22,127,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Netflix news, CEO Gregory K. Peters sold 4,644 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $700.00, for a total value of $3,250,800.00. Following the completion of the sale, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at $9,163,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider David A. Hyman sold 13,791 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $700.00, for a total transaction of $9,653,700.00. Following the transaction, the insider now directly owns 31,610 shares in the company, valued at approximately $22,127,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 205,084 shares of company stock valued at $146,747,101 over the last ninety days. Corporate insiders own 1.76% of the company’s stock.

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.