Pitcairn Co. Sells 821 Shares of Netflix, Inc. (NASDAQ:NFLX)

Pitcairn Co. lessened its stake in Netflix, Inc. (NASDAQ:NFLX) by 13.4% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 5,300 shares of the Internet television network’s stock after selling 821 shares during the period. Pitcairn Co.’s holdings in Netflix were worth $3,759,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Denver PWM LLC bought a new position in Netflix during the second quarter worth about $25,000. Proffitt & Goodson Inc. lifted its stake in Netflix by 380.0% during the second quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock worth $32,000 after purchasing an additional 38 shares during the period. E Fund Management Hong Kong Co. Ltd. increased its holdings in shares of Netflix by 700.0% during the third 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. AlphaMark Advisors LLC increased its holdings in shares of Netflix by 642.9% during the second 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. Finally, MidAtlantic Capital Management Inc. acquired a new stake in shares of Netflix during the third quarter worth approximately $37,000. Institutional investors own 80.93% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on NFLX. JPMorgan Chase & Co. raised their price objective on shares of Netflix from $750.00 to $850.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Wells Fargo & Company raised their price objective on shares of Netflix from $758.00 to $797.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Canaccord Genuity Group raised their price objective on shares of Netflix from $750.00 to $760.00 and gave the stock a “hold” rating in a report on Friday, October 18th. BMO Capital Markets reaffirmed an “outperform” rating and set a $825.00 price objective (up previously from $770.00) on shares of Netflix in a report on Friday, October 18th. Finally, Wedbush reissued an “outperform” rating and issued a $950.00 price target (up previously from $800.00) on shares of Netflix in a report on Monday, November 18th. Two 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 company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $764.82.

Insider Buying and Selling at Netflix

In other news, Director Anne M. Sweeney sold 589 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $880.00, for a total transaction of $518,320.00. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 transaction, the chairman now owns 85 shares in the company, valued at $57,878.20. This represents a 99.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 185,866 shares of company stock worth $133,393,921. Insiders own 1.76% of the company’s stock.

Netflix Trading Up 0.0 %

NFLX opened at $897.79 on Friday. The stock has a market capitalization of $383.77 billion, a P/E ratio of 50.81, a P/E/G ratio of 1.73 and a beta of 1.25. Netflix, Inc. has a 12 month low of $445.73 and a 12 month high of $908.00. The firm’s fifty day simple moving average is $755.40 and its 200 day simple moving average is $690.34. 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 (NASDAQ:NFLX) last posted 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 net margin of 20.70% and a return on equity of 35.86%. The business had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.77 billion. As a group, research analysts anticipate 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.