Concorde Asset Management LLC Sells 35 Shares of Netflix, Inc. (NASDAQ:NFLX)

Concorde Asset Management LLC cut its stake in Netflix, Inc. (NASDAQ:NFLX) by 4.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 730 shares of the Internet television network’s stock after selling 35 shares during the period. Concorde Asset Management LLC’s holdings in Netflix were worth $518,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. DigitalBridge Group Inc. raised its holdings in shares of Netflix by 35.5% in the 2nd quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock worth $24,338,000 after buying an additional 9,451 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Netflix by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,579,404 shares of the Internet television network’s stock valued at $1,829,494,000 after purchasing an additional 29,726 shares in the last quarter. Natixis Advisors LLC increased its holdings in Netflix by 2.0% during the 3rd quarter. Natixis Advisors LLC now owns 612,458 shares of the Internet television network’s stock valued at $434,398,000 after purchasing an additional 11,921 shares in the last quarter. Venturi Wealth Management LLC increased its holdings in Netflix by 27.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 3,077 shares of the Internet television network’s stock valued at $2,182,000 after purchasing an additional 664 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in Netflix by 58.2% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 82,931 shares of the Internet television network’s stock valued at $55,968,000 after purchasing an additional 30,511 shares in the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Netflix

In related news, insider David A. Hyman sold 267 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was 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 directly owns 31,610 shares in the company, valued at approximately $24,202,828.70. The trade was a 0.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Anne M. Sweeney sold 589 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $880.00, for a total transaction of $518,320.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 185,866 shares of company stock worth $133,393,921. Company insiders own 1.76% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on NFLX shares. Bank of America increased their price objective on Netflix from $800.00 to $1,000.00 and gave the company a “buy” rating in a research report on Thursday. Morgan Stanley increased their price objective on Netflix from $820.00 to $830.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. BMO Capital Markets reiterated an “outperform” rating and issued a $825.00 price objective (up from $770.00) on shares of Netflix in a research report on Friday, October 18th. Macquarie reiterated an “outperform” rating and issued a $795.00 price objective on shares of Netflix in a research report on Friday, October 18th. Finally, Wolfe Research reiterated an “outperform” rating on shares of Netflix in a report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $764.82.

Netflix Price Performance

Shares of NASDAQ NFLX opened at $896.05 on Friday. The business’s 50 day moving average price is $751.39 and its two-hundred day moving average price is $688.25. The company has a market cap of $383.03 billion, a PE ratio of 50.71, a price-to-earnings-growth ratio of 1.68 and a beta of 1.25. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. Netflix, Inc. has a twelve month low of $445.73 and a twelve month high of $908.00.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.09 by $0.31. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The company had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.77 billion. On average, analysts predict that Netflix, Inc. will post 19.78 EPS 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.