Asahi Life Asset Management CO. LTD. Sells 602 Shares of Netflix, Inc. (NASDAQ:NFLX)

Asahi Life Asset Management CO. LTD. lessened its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 46.5% during the third quarter, HoldingsChannel.com reports. The fund owned 692 shares of the Internet television network’s stock after selling 602 shares during the quarter. Asahi Life Asset Management CO. LTD.’s holdings in Netflix were worth $491,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Denver PWM LLC bought a new position in shares of Netflix in the 2nd quarter worth approximately $25,000. Proffitt & Goodson Inc. increased its holdings in Netflix by 380.0% during 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 during the last quarter. AlphaMark Advisors LLC raised its position in Netflix by 642.9% in the second quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock worth $35,000 after acquiring an additional 45 shares during the period. Triad Wealth Partners LLC purchased a new position in shares of Netflix during the 2nd quarter worth $38,000. Finally, Summit Securities Group LLC bought a new stake in shares of Netflix during the 2nd quarter valued at $38,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NFLX has been the topic of several analyst reports. Piper Sandler reiterated an “overweight” rating and set a $840.00 target price (up from $800.00) on shares of Netflix in a research report on Friday, October 18th. The Goldman Sachs Group set a $750.00 price objective on Netflix in a research report on Friday, October 18th. Bank of America increased their target price on shares of Netflix from $740.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Wolfe Research reiterated an “outperform” rating on shares of Netflix in a research report on Friday, October 18th. Finally, Sanford C. Bernstein upped their target price on shares of Netflix from $625.00 to $780.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. Two equities research 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. Based on data from MarketBeat, Netflix has an average rating of “Moderate Buy” and an average price target of $747.70.

Insiders Place Their Bets

In related news, insider David A. Hyman sold 20,656 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total value of $12,499,565.28. Following the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at $19,128,159.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Netflix news, insider David A. Hyman sold 20,656 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total value of $12,499,565.28. Following the sale, the insider now owns 31,610 shares in the company, valued at $19,128,159.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Gregory K. Peters sold 1,278 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $614.44, for a total transaction of $785,254.32. Following the sale, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at $8,043,019.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 229,711 shares of company stock valued at $153,905,830 over the last three months. 1.76% of the stock is owned by company insiders.

Netflix Trading Down 0.3 %

Shares of NASDAQ NFLX traded down $2.63 during trading hours on Monday, hitting $752.05. 523,632 shares of the company traded hands, compared to its average volume of 3,706,297. The company’s 50 day moving average price is $706.67 and its 200 day moving average price is $659.88. Netflix, Inc. has a 12 month low of $399.41 and a 12 month high of $773.00. The stock has a market capitalization of $324.13 billion, a price-to-earnings ratio of 52.19, a price-to-earnings-growth ratio of 1.48 and a beta of 1.26. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62.

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.