Arete Wealth Advisors LLC Sells 896 Shares of Netflix, Inc. (NASDAQ:NFLX)

Arete Wealth Advisors LLC lessened its holdings in Netflix, Inc. (NASDAQ:NFLX) by 49.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 901 shares of the Internet television network’s stock after selling 896 shares during the period. Arete Wealth Advisors LLC’s holdings in Netflix were worth $639,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Denver PWM LLC purchased a new stake in Netflix in the second quarter worth about $25,000. RPg Family Wealth Advisory LLC purchased a new stake in Netflix in the 3rd quarter worth approximately $25,000. Proffitt & Goodson Inc. raised its stake in Netflix by 380.0% during the 2nd quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock worth $32,000 after acquiring an additional 38 shares during the period. E Fund Management Hong Kong Co. Ltd. lifted its holdings in 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 valued at $34,000 after purchasing an additional 42 shares in the last quarter. Finally, AlphaMark Advisors LLC boosted its position in shares of Netflix by 642.9% in the second quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock worth $35,000 after purchasing an additional 45 shares during the period. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Insider Activity

In other news, Director Timothy M. Haley sold 11,090 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $757.96, for a total transaction of $8,405,776.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider David A. Hyman sold 267 shares of Netflix stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total value of $204,433.89. Following the completion of the sale, the insider now owns 31,610 shares of the company’s stock, valued at $24,202,828.70. The trade was a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 165,405 shares of company stock valued at $129,623,487. Corporate insiders own 1.76% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on NFLX. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Netflix from $590.00 to $650.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. The Goldman Sachs Group set a $750.00 price objective on Netflix in a research report on Friday, October 18th. UBS Group upped their price objective on Netflix from $750.00 to $825.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Canaccord Genuity Group lifted their target price on Netflix from $760.00 to $940.00 and gave the company a “hold” rating in a research note on Monday, December 2nd. Finally, Sanford C. Bernstein upped their price target on Netflix from $625.00 to $780.00 and gave the stock a “market perform” rating in a research note on Friday, October 18th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $787.85.

Netflix Stock Performance

NFLX stock opened at $925.55 on Friday. The firm has a market cap of $395.64 billion, a price-to-earnings ratio of 52.38, a PEG ratio of 1.80 and a beta of 1.27. Netflix, Inc. has a twelve month low of $461.86 and a twelve month high of $941.75. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. The business’s fifty day simple moving average is $805.66 and its two-hundred day simple moving average is $716.00.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, topping the consensus estimate of $5.09 by $0.31. The company had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. Analysts predict that Netflix, Inc. will post 19.78 earnings per share for the current year.

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.