Netflix, Inc. $NFLX Shares Sold by Divergent Planning LLC

Divergent Planning LLC lessened its holdings in Netflix, Inc. (NASDAQ:NFLX) by 6.7% during the second quarter, Holdings Channel.com reports. The firm owned 224 shares of the Internet television network’s stock after selling 16 shares during the quarter. Divergent Planning LLC’s holdings in Netflix were worth $290,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the business. Stephens Consulting LLC boosted its stake in shares of Netflix by 150.0% in the second quarter. Stephens Consulting LLC now owns 25 shares of the Internet television network’s stock valued at $33,000 after buying an additional 15 shares in the last quarter. Flaharty Asset Management LLC acquired a new stake in Netflix in the first quarter valued at $37,000. Maseco LLP purchased a new stake in shares of Netflix during the 2nd quarter worth $39,000. LGT Financial Advisors LLC acquired a new position in shares of Netflix during the 2nd quarter worth $40,000. Finally, Barnes Dennig Private Wealth Management LLC acquired a new position in shares of Netflix during the 1st quarter worth $42,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Netflix

In related news, Director Reed Hastings sold 42,176 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $1,171.92, for a total transaction of $49,426,897.92. Following the transaction, the director owned 394 shares of the company’s stock, valued at approximately $461,736.48. This represents a 99.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Theodore A. Sarandos sold 2,026 shares of the firm’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 transaction of $2,351,416.12. Following the sale, the chief executive officer owned 15,168 shares in the company, valued at approximately $17,604,284.16. This trade represents a 11.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 104,100 shares of company stock worth $122,710,980 in the last ninety days. Company insiders own 1.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on NFLX shares. Phillip Securities cut shares of Netflix from a “hold” rating to a “strong sell” rating in a research note on Monday, July 21st. Morgan Stanley set a $1,500.00 target price on shares of Netflix in a report on Monday, October 13th. Wall Street Zen downgraded shares of Netflix from a “buy” rating to a “hold” rating in a research report on Saturday, October 4th. Piper Sandler upped their price target on Netflix from $1,400.00 to $1,500.00 and gave the stock an “overweight” rating in a report on Friday, July 18th. Finally, Seaport Res Ptn raised Netflix from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 6th. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,339.81.

Netflix Stock Performance

NASDAQ NFLX opened at $1,238.56 on Tuesday. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.58. Netflix, Inc. has a fifty-two week low of $744.26 and a fifty-two week high of $1,341.15. The business has a fifty day moving average of $1,213.87 and a 200-day moving average of $1,182.08. The stock has a market cap of $526.30 billion, a price-to-earnings ratio of 52.77, a price-to-earnings-growth ratio of 2.02 and a beta of 1.59.

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.