Vontobel Holding Ltd. Sells 8,554 Shares of Netflix, Inc. (NASDAQ:NFLX)

Vontobel Holding Ltd. reduced its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 18.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 37,774 shares of the Internet television network’s stock after selling 8,554 shares during the quarter. Vontobel Holding Ltd.’s holdings in Netflix were worth $26,792,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. McKinley Carter Wealth Services Inc. boosted its holdings in shares of Netflix by 10.3% during the 3rd quarter. McKinley Carter Wealth Services Inc. now owns 8,729 shares of the Internet television network’s stock valued at $6,191,000 after acquiring an additional 818 shares during the last quarter. Sumitomo Life Insurance Co. lifted its position in Netflix by 9.7% during the third quarter. Sumitomo Life Insurance Co. now owns 13,286 shares of the Internet television network’s stock valued at $9,423,000 after purchasing an additional 1,172 shares during the period. Stage Harbor Financial LLC boosted its holdings in Netflix by 4.8% in the third quarter. Stage Harbor Financial LLC now owns 346 shares of the Internet television network’s stock worth $250,000 after purchasing an additional 16 shares during the last quarter. Safeguard Financial LLC bought a new stake in Netflix in the 3rd quarter worth approximately $210,000. Finally, Tsfg LLC raised its stake in Netflix by 3.3% during the 3rd quarter. Tsfg LLC now owns 946 shares of the Internet television network’s stock valued at $671,000 after buying an additional 30 shares during the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on NFLX shares. TD Cowen lifted their price objective on Netflix from $775.00 to $820.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Guggenheim boosted their price target on Netflix from $735.00 to $810.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Benchmark reaffirmed a “sell” rating and set a $545.00 price target on shares of Netflix in a research report on Tuesday. UBS Group raised their price objective on shares of Netflix from $685.00 to $750.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $700.00 target price on shares of Netflix in a report on Friday, July 19th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $704.26.

Insider Activity

In related news, Chairman Reed Hastings sold 45,290 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $706.16, for a total value of $31,981,986.40. Following the completion of the sale, the chairman now directly owns 85 shares in the company, valued at $60,023.60. This trade represents 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. In other Netflix news, Chairman Reed Hastings sold 45,290 shares of the business’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. 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 at this link. Also, insider David A. Hyman sold 20,656 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total value of $12,499,565.28. Following the completion of the sale, the insider now owns 31,610 shares in the company, valued at approximately $19,128,159.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 225,167 shares of company stock valued at $150,492,460 in the last ninety days. Insiders own 1.76% of the company’s stock.

Netflix Stock Performance

Shares of NASDAQ:NFLX opened at $702.00 on Thursday. The firm has a fifty day simple moving average of $692.63 and a two-hundred day simple moving average of $653.38. Netflix, Inc. has a 52 week low of $344.73 and a 52 week high of $736.00. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $302.56 billion, a P/E ratio of 48.72, a PEG ratio of 1.49 and a beta of 1.26.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, topping the consensus estimate of $4.74 by $0.14. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The company had revenue of $9.56 billion during the quarter, compared to analyst estimates of $9.53 billion. During the same quarter last year, the business posted $3.29 earnings per share. The firm’s revenue was up 16.8% on a year-over-year basis. On average, analysts expect that Netflix, Inc. will post 19.08 earnings per share for the current fiscal 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.