Revolve Wealth Partners LLC Decreases Stake in Netflix, Inc. (NASDAQ:NFLX)

Revolve Wealth Partners LLC reduced its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 4.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 879 shares of the Internet television network’s stock after selling 42 shares during the period. Revolve Wealth Partners LLC’s holdings in Netflix were worth $623,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Netflix by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 36,587,911 shares of the Internet television network’s stock worth $22,220,936,000 after acquiring an additional 149,341 shares in the last quarter. Jennison Associates LLC raised its holdings in Netflix by 17.0% during the first quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock worth $3,875,655,000 after purchasing an additional 929,193 shares in the last quarter. Baillie Gifford & Co. lifted its position in shares of Netflix by 2.3% during the 2nd quarter. Baillie Gifford & Co. now owns 4,762,069 shares of the Internet television network’s stock worth $3,213,825,000 after buying an additional 106,756 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Netflix by 3.1% in the 2nd quarter. Legal & General Group Plc now owns 3,449,114 shares of the Internet television network’s stock valued at $2,327,738,000 after buying an additional 104,332 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Netflix by 2.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,281,306 shares of the Internet television network’s stock valued at $2,214,488,000 after buying an additional 83,762 shares during the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Netflix Trading Up 11.1 %

Shares of NFLX opened at $763.89 on Friday. The company has a market capitalization of $329.24 billion, a PE ratio of 53.01, a price-to-earnings-growth ratio of 1.49 and a beta of 1.26. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95. Netflix, Inc. has a fifty-two week low of $392.26 and a fifty-two week high of $766.28. The stock has a fifty day moving average of $696.38 and a two-hundred day moving average of $654.94.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.74 by $0.14. The firm had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $9.53 billion. Netflix had a net margin of 19.54% and a return on equity of 32.93%. Netflix’s revenue was up 16.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.29 earnings per share. As a group, analysts forecast that Netflix, Inc. will post 19.08 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on NFLX. Citigroup boosted their price target on shares of Netflix from $660.00 to $675.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Needham & Company LLC raised their price target on Netflix from $700.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday. Benchmark reiterated a “sell” rating and issued a $545.00 price objective on shares of Netflix in a research note on Tuesday, October 15th. Argus increased their price objective on Netflix from $660.00 to $767.00 and gave the company a “buy” rating in a report on Tuesday, July 2nd. Finally, KeyCorp lifted their target price on shares of Netflix from $760.00 to $785.00 and gave the company an “overweight” rating in a report on Friday. Two investment 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 company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $747.70.

Insider Activity at Netflix

In related news, insider David A. Hyman sold 20,656 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total value of $12,499,565.28. Following the transaction, the insider now owns 31,610 shares in the company, valued at approximately $19,128,159.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider David A. Hyman sold 13,791 shares of the stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $700.00, for a total value of $9,653,700.00. Following the completion of the transaction, the insider now owns 31,610 shares of the company’s stock, valued at approximately $22,127,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider David A. Hyman sold 20,656 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total value of $12,499,565.28. Following the completion of the transaction, the insider now directly 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. Over the last 90 days, insiders have sold 225,167 shares of company stock worth $150,492,460. 1.76% of the stock is owned by insiders.

Netflix 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.