Dover Advisors LLC Sells 33 Shares of Netflix, Inc. (NASDAQ:NFLX)

by · The Cerbat Gem

Dover Advisors LLC reduced its position in Netflix, Inc. (NASDAQ:NFLX – Free Report) by 2.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,200 shares of the Internet television network’s stock after selling 33 shares during the period. Dover Advisors LLC’s holdings in Netflix were worth $851,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of NFLX. Scarborough Advisors LLC bought a new position in shares of Netflix in the 4th quarter worth $32,000. SageView Advisory Group LLC lifted its holdings in shares of Netflix by 245.0% in the 4th quarter. SageView Advisory Group LLC now owns 3,136 shares of the Internet television network’s stock worth $1,527,000 after purchasing an additional 2,227 shares in the last quarter. Trust Co. of Vermont lifted its holdings in shares of Netflix by 24.1% in the 4th quarter. Trust Co. of Vermont now owns 463 shares of the Internet television network’s stock worth $225,000 after purchasing an additional 90 shares in the last quarter. Leo Wealth LLC bought a new position in Netflix during the 4th quarter valued at $523,000. Finally, Trust Co. of Toledo NA OH lifted its stake in Netflix by 1.5% during the 1st quarter. Trust Co. of Toledo NA OH now owns 2,463 shares of the Internet television network’s stock valued at $1,496,000 after acquiring an additional 36 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

NFLX has been the topic of several recent analyst reports. JPMorgan Chase & Co. restated an “overweight” rating and set a $750.00 price objective on shares of Netflix in a research note on Tuesday, October 8th. Barclays restated an “underweight” rating and set a $550.00 price objective on shares of Netflix in a research note on Monday, October 7th. KeyCorp raised their target price on Netflix from $735.00 to $760.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. Argus lifted their target price on Netflix from $660.00 to $767.00 and gave the stock a “buy” rating in a research note on Tuesday, July 2nd. Finally, UBS Group lifted their target price on Netflix from $685.00 to $750.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $702.79.

Read Our Latest Stock Report on NFLX

Insiders Place Their Bets

In related news, Chairman Reed Hastings sold 45,290 shares of the company’s stock in a transaction that occurred on 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 $60,023.60. This represents 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 available through this hyperlink. In related news, Chairman Reed Hastings sold 45,290 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $706.16, for a total transaction of $31,981,986.40. Following the transaction, the chairman now owns 85 shares in the company, valued at $60,023.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Gregory K. Peters sold 1,278 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $614.44, for a total transaction of $785,254.32. Following the completion of the transaction, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at approximately $8,043,019.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 225,167 shares of company stock worth $150,492,460. 1.76% of the stock is currently owned by company insiders.

Netflix Trading Down 1.0 %

Shares of NASDAQ:NFLX traded down $7.02 during trading on Tuesday, reaching $705.98. 2,929,369 shares of the company traded hands, compared to its average volume of 3,641,881. 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 52-week low of $344.73 and a 52-week high of $736.00. The business’s fifty day moving average is $688.89 and its 200-day moving average is $652.34. The firm has a market capitalization of $304.28 billion, a price-to-earnings ratio of 48.74, a P/E/G ratio of 1.49 and a beta of 1.26.

Netflix (NASDAQ:NFLX – Get Free Report) last announced its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.74 by $0.14. The business 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%. The company’s revenue was up 16.8% on a year-over-year basis. During the same quarter last year, the firm earned $3.29 EPS. As a group, analysts forecast that Netflix, Inc. will post 19.08 EPS for the current year.

About Netflix

(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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