Cullinan Associates Inc. Sells 90 Shares of Netflix, Inc. (NASDAQ:NFLX)

Cullinan Associates Inc. trimmed its holdings in Netflix, Inc. (NASDAQ:NFLX) by 6.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,300 shares of the Internet television network’s stock after selling 90 shares during the period. Cullinan Associates Inc.’s holdings in Netflix were worth $1,000,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NFLX. Wealthcare Advisory Partners LLC grew its position in shares of Netflix by 10.2% in the first quarter. Wealthcare Advisory Partners LLC now owns 2,017 shares of the Internet television network’s stock valued at $1,225,000 after purchasing an additional 187 shares during the last quarter. Thrive Wealth Management LLC grew its position in shares of Netflix by 4.8% in the 1st quarter. Thrive Wealth Management LLC now owns 571 shares of the Internet television network’s stock valued at $347,000 after buying an additional 26 shares during the last quarter. 180 Wealth Advisors LLC raised its position in shares of Netflix by 35.2% in the 1st quarter. 180 Wealth Advisors LLC now owns 2,069 shares of the Internet television network’s stock worth $1,257,000 after acquiring an additional 539 shares in the last quarter. Indiana Trust & Investment Management CO boosted its position in shares of Netflix by 112.0% during the 1st quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock worth $32,000 after purchasing an additional 28 shares in the last quarter. Finally, Capital Asset Advisory Services LLC bought a new stake in Netflix during the 1st quarter valued at $232,000. 80.93% of the stock is owned by institutional investors.

Netflix Trading Up 1.2 %

NFLX traded up $9.32 on Friday, hitting $763.87. The company had a trading volume of 449,611 shares, compared to its average volume of 3,709,209. The company has a market cap of $326.52 billion, a PE ratio of 42.70, a PEG ratio of 1.48 and a beta of 1.26. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. The business’s fifty day simple moving average is $703.23 and its 200 day simple moving average is $657.75. Netflix, Inc. has a 12-month low of $395.62 and a 12-month high of $773.00.

Insider Buying and Selling at Netflix

In other news, Chairman Reed Hastings sold 45,290 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $706.16, for a total transaction of $31,981,986.40. Following the sale, the chairman now owns 85 shares in the company, valued at approximately $60,023.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Netflix news, Chairman Reed Hastings sold 45,290 shares of Netflix stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $706.16, for a total transaction of $31,981,986.40. Following the completion of the transaction, the chairman now owns 85 shares in the company, valued at approximately $60,023.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider David A. Hyman sold 20,656 shares of Netflix stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $19,128,159.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 229,711 shares of company stock valued at $153,905,830 in the last three months. Company insiders own 1.76% of the company’s stock.

Analyst Upgrades and Downgrades

NFLX has been the subject of several research reports. Argus increased their price objective on Netflix from $660.00 to $767.00 and gave the company a “buy” rating in a report on Tuesday, July 2nd. Morgan Stanley increased their target price on Netflix from $820.00 to $830.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. StockNews.com upgraded Netflix from a “hold” rating to a “buy” rating in a research report on Tuesday, September 24th. Canaccord Genuity Group increased their price objective on Netflix from $750.00 to $760.00 and gave the stock a “hold” rating in a report on Friday, October 18th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $825.00 price target (up from $770.00) on shares of Netflix in a report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $747.70.

Netflix Company 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.