Asset Dedication LLC Sells 1,452 Shares of Netflix, Inc. (NASDAQ:NFLX)

by · The Markets Daily

Asset Dedication LLC lowered its holdings in Netflix, Inc. (NASDAQ:NFLX – Free Report) by 12.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,630 shares of the Internet television network’s stock after selling 1,452 shares during the quarter. Asset Dedication LLC’s holdings in Netflix were worth $7,540,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. CCG Wealth Management LLC purchased a new stake in shares of Netflix during the third quarter valued at about $204,000. EdgeRock Capital LLC grew its holdings in Netflix by 15.1% in the third quarter. EdgeRock Capital LLC now owns 412 shares of the Internet television network’s stock worth $292,000 after purchasing an additional 54 shares during the last quarter. Regatta Capital Group LLC increased its position in Netflix by 1.0% during the 3rd quarter. Regatta Capital Group LLC now owns 4,211 shares of the Internet television network’s stock valued at $2,987,000 after buying an additional 40 shares in the last quarter. Petredis Investment Advisors LLC increased its holdings in shares of Netflix by 0.3% during the third quarter. Petredis Investment Advisors LLC now owns 8,055 shares of the Internet television network’s stock valued at $5,713,000 after acquiring an additional 27 shares in the last quarter. Finally, Prospect Financial Services LLC raised its position in shares of Netflix by 69.1% in the 3rd quarter. Prospect Financial Services LLC now owns 585 shares of the Internet television network’s stock valued at $415,000 after purchasing an additional 239 shares during the last quarter. Institutional investors own 80.93% of the company’s stock.

Netflix Stock Performance

Netflix stock opened at $705.98 on Wednesday. Netflix, Inc. has a 1-year low of $344.73 and a 1-year high of $736.00. The stock has a market cap of $304.28 billion, a price-to-earnings ratio of 48.99, a price-to-earnings-growth ratio of 1.49 and a beta of 1.26. The firm has a 50 day simple moving average of $690.82 and a 200-day simple moving average of $653.04. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95.

Netflix (NASDAQ:NFLX – Get Free Report) last issued its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.74 by $0.14. The firm had revenue of $9.56 billion for the quarter, compared to analyst estimates of $9.53 billion. Netflix had a net margin of 19.54% and a return on equity of 32.93%. Netflix’s revenue was up 16.8% on a year-over-year basis. During the same period in the previous year, the firm earned $3.29 EPS. On average, analysts expect that Netflix, Inc. will post 19.08 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NFLX. Sanford C. Bernstein lifted their price objective on shares of Netflix from $600.00 to $625.00 and gave the stock a “market perform” rating in a research note on Friday, July 19th. Loop Capital increased their price objective on Netflix from $700.00 to $750.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $750.00 target price on shares of Netflix in a report on Tuesday, October 8th. Evercore ISI increased their price target on shares of Netflix from $710.00 to $750.00 and gave the stock an “outperform” rating in a report on Tuesday, August 27th. Finally, TD Cowen lifted their price objective on shares of Netflix from $775.00 to $820.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat.com, Netflix currently has an average rating of “Moderate Buy” and a consensus price target of $702.79.

Read Our Latest Stock Analysis on NFLX

Insider Buying and Selling at Netflix

In related news, Chairman Reed Hastings sold 25,599 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $631.43, for a total value of $16,163,976.57. Following the sale, the chairman now owns 57 shares in the company, valued at approximately $35,991.51. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Leslie J. Kilgore sold 383 shares of the company’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $730.00, for a total transaction of $279,590.00. Following the sale, the director now owns 35,262 shares of the company’s stock, valued at approximately $25,741,260. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Reed Hastings sold 25,599 shares of Netflix stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $631.43, for a total value of $16,163,976.57. Following the completion of the transaction, the chairman now owns 57 shares of the company’s stock, valued at approximately $35,991.51. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 225,167 shares of company stock valued at $150,492,460 over the last quarter. 1.76% of the stock is owned by company insiders.

Netflix Company Profile

(Free Report)

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.

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