Wright Investors Service Inc. Has $2.29 Million Position in Netflix, Inc. (NASDAQ:NFLX)

Wright Investors Service Inc. reduced its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 18.4% in the third quarter, HoldingsChannel.com reports. The fund owned 3,231 shares of the Internet television network’s stock after selling 728 shares during the quarter. Wright Investors Service Inc.’s holdings in Netflix were worth $2,292,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Heartland Bank & Trust Co increased its position in shares of Netflix by 0.9% during the second quarter. Heartland Bank & Trust Co now owns 1,770 shares of the Internet television network’s stock valued at $1,195,000 after buying an additional 15 shares during the period. Meritas Wealth Management LLC grew its holdings in Netflix by 2.9% in the third quarter. Meritas Wealth Management LLC now owns 573 shares of the Internet television network’s stock worth $406,000 after purchasing an additional 16 shares during the period. Obermeyer Wood Investment Counsel Lllp grew its holdings in Netflix by 2.8% in the first quarter. Obermeyer Wood Investment Counsel Lllp now owns 623 shares of the Internet television network’s stock worth $378,000 after purchasing an additional 17 shares during the period. Private Portfolio Partners LLC grew its holdings in Netflix by 1.7% in the first quarter. Private Portfolio Partners LLC now owns 1,042 shares of the Internet television network’s stock worth $633,000 after purchasing an additional 17 shares during the period. Finally, FAS Wealth Partners Inc. grew its holdings in Netflix by 1.5% in the second quarter. FAS Wealth Partners Inc. now owns 1,164 shares of the Internet television network’s stock worth $786,000 after purchasing an additional 17 shares during the period. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Netflix Stock Up 1.8 %

NASDAQ NFLX traded up $12.90 during trading on Friday, reaching $719.70. 2,230,139 shares of the company’s stock traded hands, compared to its average volume of 3,674,012. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a market cap of $310.19 billion, a price-to-earnings ratio of 49.94, a price-to-earnings-growth ratio of 1.44 and a beta of 1.26. The company’s 50 day simple moving average is $676.85 and its two-hundred day simple moving average is $648.05. Netflix, Inc. has a 12-month low of $344.73 and a 12-month high of $725.26.

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

Insider Transactions at Netflix

In other news, CEO Gregory K. Peters sold 1,278 shares of Netflix stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $614.44, for a total value of $785,254.32. Following the transaction, the chief executive officer now owns 13,090 shares of the company’s stock, valued at $8,043,019.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Netflix news, CFO Spencer Adam Neumann sold 433 shares of Netflix stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $626.19, for a total transaction of $271,140.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gregory K. Peters sold 1,278 shares of Netflix stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $614.44, for a total transaction of $785,254.32. Following the sale, the chief executive officer now owns 13,090 shares of the company’s stock, valued at approximately $8,043,019.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 224,784 shares of company stock valued at $150,212,870 in the last 90 days. Insiders own 1.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on NFLX shares. Jefferies Financial Group upped their price objective on shares of Netflix from $655.00 to $780.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Morgan Stanley upped their target price on shares of Netflix from $700.00 to $780.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Sanford C. Bernstein upped their target price on shares of Netflix from $600.00 to $625.00 and gave the stock a “market perform” rating in a research note on Friday, July 19th. Citigroup upped their target price on shares of Netflix from $660.00 to $675.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Finally, UBS Group upped their target price on shares of Netflix from $685.00 to $750.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $686.03.

Netflix Company 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.