Soltis Investment Advisors LLC Cuts Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Soltis Investment Advisors LLC cut its position in Netflix, Inc. (NASDAQ:NFLX) by 0.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,334 shares of the Internet television network’s stock after selling 48 shares during the quarter. Soltis Investment Advisors LLC’s holdings in Netflix were worth $7,330,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. ORG Partners LLC boosted its holdings in Netflix by 2,396.8% in the second quarter. ORG Partners LLC now owns 1,548 shares of the Internet television network’s stock worth $1,043,000 after acquiring an additional 1,486 shares in the last quarter. AdvisorNet Financial Inc boosted its stake in Netflix by 2.5% in the 2nd quarter. AdvisorNet Financial Inc now owns 854 shares of the Internet television network’s stock worth $576,000 after purchasing an additional 21 shares in the last quarter. Redhawk Wealth Advisors Inc. grew its position in Netflix by 88.8% during the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 1,248 shares of the Internet television network’s stock worth $842,000 after purchasing an additional 587 shares during the last quarter. AlphaMark Advisors LLC increased its stake in Netflix by 642.9% during the 2nd quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock valued at $35,000 after purchasing an additional 45 shares in the last quarter. Finally, J.Safra Asset Management Corp raised its holdings in shares of Netflix by 1,041.7% in the second quarter. J.Safra Asset Management Corp now owns 137 shares of the Internet television network’s stock worth $92,000 after buying an additional 125 shares during the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Anne M. Sweeney sold 589 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $880.00, for a total value of $518,320.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jay C. Hoag sold 43,750 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $687.07, for a total transaction of $30,059,312.50. Following the transaction, the director now directly owns 95,040 shares in the company, valued at $65,299,132.80. The trade was a 31.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 209,155 shares of company stock worth $159,682,799. Corporate insiders own 1.76% of the company’s stock.

Analyst Ratings Changes

NFLX has been the topic of a number of research analyst reports. Pivotal Research boosted their price objective on shares of Netflix from $925.00 to $1,100.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. TD Cowen boosted their price objective on Netflix from $820.00 to $835.00 and gave the company a “buy” rating in a report on Friday, October 18th. Jefferies Financial Group upped their target price on Netflix from $780.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Wolfe Research reaffirmed an “outperform” rating on shares of Netflix in a research note on Friday, October 18th. Finally, Needham & Company LLC boosted their target price on shares of Netflix from $700.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $783.00.

Netflix Price Performance

Netflix stock opened at $913.35 on Wednesday. The stock has a market cap of $390.42 billion, a P/E ratio of 51.69, a price-to-earnings-growth ratio of 1.80 and a beta of 1.27. The company has a fifty day simple moving average of $797.01 and a 200-day simple moving average of $712.57. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. Netflix, Inc. has a 12-month low of $457.21 and a 12-month high of $935.27.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, beating analysts’ consensus estimates of $5.09 by $0.31. The business had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.77 billion. Netflix had a return on equity of 35.86% and a net margin of 20.70%. Equities analysts expect that Netflix, Inc. will post 19.78 EPS for the current fiscal year.

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.