Prio Wealth Limited Partnership Trims Position in Netflix, Inc. (NASDAQ:NFLX)

Prio Wealth Limited Partnership cut its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 8.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 446 shares of the Internet television network’s stock after selling 42 shares during the period. Prio Wealth Limited Partnership’s holdings in Netflix were worth $316,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Denver PWM LLC purchased a new stake in Netflix in the 2nd quarter worth approximately $25,000. Valued Wealth Advisors LLC increased its holdings in shares of Netflix by 80.0% in the first quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock worth $27,000 after purchasing an additional 20 shares during the period. Proffitt & Goodson Inc. raised its position in shares of Netflix by 380.0% in the second quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock worth $32,000 after buying an additional 38 shares in the last quarter. AlphaMark Advisors LLC boosted its stake in Netflix by 642.9% during the second quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock valued at $35,000 after buying an additional 45 shares during the period. Finally, Indiana Trust & Investment Management CO grew its position in Netflix by 112.0% during the first quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock worth $32,000 after buying an additional 28 shares in the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Netflix

In other Netflix news, Chairman Reed Hastings sold 25,599 shares of the firm’s stock in a transaction dated 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 sale, the chairman now directly owns 57 shares in the company, valued at $35,991.51. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, insider David A. Hyman sold 20,656 shares of the company’s 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Reed Hastings sold 25,599 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $631.43, for a total transaction 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. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 229,711 shares of company stock worth $153,905,830 over the last 90 days. 1.76% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

NFLX has been the topic of several recent analyst reports. JPMorgan Chase & Co. raised their price target on Netflix from $750.00 to $850.00 and gave the company an “overweight” rating in a report on Friday. Deutsche Bank Aktiengesellschaft raised their target price on shares of Netflix from $590.00 to $650.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. BMO Capital Markets reissued an “outperform” rating and issued a $825.00 price target (up previously from $770.00) on shares of Netflix in a research note on Friday. Bank of America raised their price objective on shares of Netflix from $740.00 to $800.00 and gave the company a “buy” rating in a research report on Friday. Finally, Guggenheim upped their target price on shares of Netflix from $735.00 to $810.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Netflix has an average rating of “Moderate Buy” and an average target price of $747.70.

Netflix Stock Up 1.1 %

Shares of Netflix stock opened at $772.07 on Tuesday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. Netflix, Inc. has a 12-month low of $395.62 and a 12-month high of $773.00. The company has a market cap of $332.76 billion, a P/E ratio of 53.58, a PEG ratio of 1.49 and a beta of 1.26. The company’s fifty day simple moving average is $699.16 and its two-hundred day simple moving average is $656.21.

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.