Nvest Financial LLC Sells 42 Shares of Netflix, Inc. $NFLX

by · The Cerbat Gem

Nvest Financial LLC trimmed its holdings in Netflix, Inc. (NASDAQ:NFLX – Free Report) by 1.2% in the 2nd quarter, HoldingsChannel reports. The firm owned 3,387 shares of the Internet television network’s stock after selling 42 shares during the quarter. Netflix makes up approximately 2.4% of Nvest Financial LLC’s portfolio, making the stock its 11th largest holding. Nvest Financial LLC’s holdings in Netflix were worth $4,536,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Optima Capital LLC raised its stake in shares of Netflix by 3.5% in the second quarter. Optima Capital LLC now owns 239 shares of the Internet television network’s stock worth $320,000 after purchasing an additional 8 shares during the last quarter. Unified Investment Management raised its stake in shares of Netflix by 1.7% in the second quarter. Unified Investment Management now owns 474 shares of the Internet television network’s stock worth $635,000 after purchasing an additional 8 shares during the last quarter. Plancorp LLC raised its stake in shares of Netflix by 0.6% in the second quarter. Plancorp LLC now owns 1,278 shares of the Internet television network’s stock worth $1,711,000 after purchasing an additional 8 shares during the last quarter. Five Oceans Advisors raised its stake in shares of Netflix by 1.1% in the second quarter. Five Oceans Advisors now owns 751 shares of the Internet television network’s stock worth $1,006,000 after purchasing an additional 8 shares during the last quarter. Finally, Old Port Advisors raised its stake in shares of Netflix by 1.3% in the second quarter. Old Port Advisors now owns 624 shares of the Internet television network’s stock worth $836,000 after purchasing an additional 8 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors.

Netflix Stock Down 1.0%

Netflix stock opened at $1,203.29 on Thursday. The stock has a market capitalization of $511.31 billion, a PE ratio of 51.27, a price-to-earnings-growth ratio of 2.04 and a beta of 1.59. Netflix, Inc. has a 12 month low of $677.88 and a 12 month high of $1,341.15. The business has a 50 day simple moving average of $1,213.65 and a 200-day simple moving average of $1,172.31. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.34 and a quick ratio of 1.34.

Netflix (NASDAQ:NFLX – Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, beating analysts’ consensus estimates of $7.07 by $0.12. The business had revenue of $11.08 billion during the quarter, compared to analysts’ expectations of $11.04 billion. Netflix had a return on equity of 42.50% and a net margin of 24.58%.The business’s revenue was up 15.9% compared to the same quarter last year. During the same period in the previous year, the business earned $4.88 earnings per share. On average, analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NFLX. The Goldman Sachs Group reduced their price objective on Netflix from $1,310.00 to $1,300.00 and set a “neutral” rating for the company in a research note on Tuesday, September 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Netflix in a research report on Wednesday, October 8th. Rosenblatt Securities lifted their price target on Netflix from $1,514.00 to $1,515.00 and gave the company a “buy” rating in a research report on Friday, July 18th. Phillip Securities cut Netflix from a “hold” rating to a “strong sell” rating in a research report on Monday, July 21st. Finally, Barclays reiterated a “sell” rating and set a $1,100.00 price target (up from $1,000.00) on shares of Netflix in a research report on Wednesday, July 9th. Two analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Netflix has a consensus rating of “Moderate Buy” and an average price target of $1,337.63.

Read Our Latest Report on NFLX

Insiders Place Their Bets

In other news, CEO Theodore A. Sarandos sold 2,026 shares of the business’s stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $1,160.62, for a total value of $2,351,416.12. Following the completion of the sale, the chief executive officer directly owned 15,168 shares in the company, valued at $17,604,284.16. The trade was a 11.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Gregory K. Peters sold 2,026 shares of the business’s stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $1,157.44, for a total value of $2,344,973.44. Following the completion of the sale, the chief executive officer owned 12,781 shares of the company’s stock, valued at $14,793,240.64. This trade represents a 13.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 104,100 shares of company stock valued at $122,710,980. 1.37% of the stock is owned by insiders.

Netflix Profile

(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.

See Also

Want to see what other hedge funds are holding NFLX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Netflix, Inc. (NASDAQ:NFLX – Free Report).