Monterey Private Wealth Inc. Sells 2,800 Shares of Netflix, Inc. (NASDAQ:NFLX)

Monterey Private Wealth Inc. decreased its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 90.8% in the 3rd quarter, Holdings Channel reports. The fund owned 284 shares of the Internet television network’s stock after selling 2,800 shares during the period. Monterey Private Wealth Inc.’s holdings in Netflix were worth $201,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Denver PWM LLC bought a new position in shares of Netflix in the 2nd quarter valued at $25,000. Valued Wealth Advisors LLC grew its holdings in shares of Netflix by 80.0% during the first quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock worth $27,000 after purchasing an additional 20 shares during the last quarter. VitalStone Financial LLC increased its stake in shares of Netflix by 933.3% in the fourth quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock valued at $30,000 after buying an additional 56 shares during the period. Beaird Harris Wealth Management LLC raised its holdings in Netflix by 1,550.0% in the 4th quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock valued at $32,000 after buying an additional 62 shares during the last quarter. Finally, Scarborough Advisors LLC bought a new stake in Netflix during the 4th quarter worth approximately $32,000. Institutional investors own 80.93% of the company’s stock.

Insiders Place Their Bets

In related news, Chairman Reed Hastings sold 45,290 shares of the 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 sale, the chairman now owns 85 shares in the company, valued at $60,023.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Chairman Reed Hastings sold 45,290 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $706.16, for a total transaction of $31,981,986.40. Following the sale, the chairman now owns 85 shares in the company, valued at approximately $60,023.60. The transaction was disclosed in a filing 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 on Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the completion of the transaction, the insider now owns 31,610 shares of the company’s stock, valued at $19,128,159.30. The disclosure for this sale can be found here. Insiders have sold 224,784 shares of company stock worth $150,212,870 in the last three months. 1.76% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

NFLX has been the topic of a number of recent research reports. Argus lifted their price target on shares of Netflix from $660.00 to $767.00 and gave the stock a “buy” rating in a report on Tuesday, July 2nd. The Goldman Sachs Group raised their price objective on Netflix from $650.00 to $659.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Sanford C. Bernstein upped their target price on Netflix from $600.00 to $625.00 and gave the company a “market perform” rating in a report on Friday, July 19th. Bank of America upped their price objective on shares of Netflix from $700.00 to $740.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Finally, Evercore ISI lifted their target price on shares of Netflix from $710.00 to $750.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 27th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $686.03.

Netflix Price Performance

NASDAQ NFLX opened at $706.80 on Friday. The company has a market cap of $304.63 billion, a PE ratio of 49.05, a price-to-earnings-growth ratio of 1.44 and a beta of 1.26. Netflix, Inc. has a 52 week low of $344.73 and a 52 week high of $725.26. 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 firm’s 50-day simple moving average is $675.08 and its two-hundred day simple moving average is $647.16.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, beating 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 firm had revenue of $9.56 billion for the quarter, compared to analysts’ expectations of $9.53 billion. During the same period in the prior year, the business posted $3.29 earnings per share. The company’s revenue was up 16.8% on a year-over-year basis. Research analysts predict that Netflix, Inc. will post 19.08 earnings per share for the current 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.