Moors & Cabot Inc. Sells 620 Shares of Netflix, Inc. (NASDAQ:NFLX)

Moors & Cabot Inc. cut its holdings in Netflix, Inc. (NASDAQ:NFLX) by 19.7% during the 2nd quarter, Holdings Channel reports. The firm owned 2,520 shares of the Internet television network’s stock after selling 620 shares during the period. Moors & Cabot Inc.’s holdings in Netflix were worth $1,701,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Obermeyer Wood Investment Counsel Lllp grew its position in shares of Netflix by 2.8% in the 1st quarter. Obermeyer Wood Investment Counsel Lllp now owns 623 shares of the Internet television network’s stock worth $378,000 after buying an additional 17 shares during the last quarter. Private Portfolio Partners LLC increased its position in Netflix by 1.7% during the 1st quarter. Private Portfolio Partners LLC now owns 1,042 shares of the Internet television network’s stock valued at $633,000 after purchasing an additional 17 shares during the period. FAS Wealth Partners Inc. raised its holdings in Netflix by 1.5% in the 2nd 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 in the last quarter. Founders Financial Alliance LLC lifted its position in shares of Netflix by 2.4% in the 4th quarter. Founders Financial Alliance LLC now owns 757 shares of the Internet television network’s stock worth $369,000 after purchasing an additional 18 shares during the period. Finally, Capital Advisors Ltd. LLC boosted its stake in shares of Netflix by 4.6% during the 1st quarter. Capital Advisors Ltd. LLC now owns 411 shares of the Internet television network’s stock valued at $250,000 after purchasing an additional 18 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. China Renaissance began coverage on shares of Netflix in a research note on Thursday, September 5th. They issued a “hold” rating and a $680.00 price target for the company. Rosenblatt Securities increased their target price on Netflix from $554.00 to $635.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Argus lifted their price target on Netflix from $660.00 to $767.00 and gave the company a “buy” rating in a research report on Tuesday, July 2nd. Sanford C. Bernstein upped their price target on Netflix from $600.00 to $625.00 and gave the stock a “market perform” rating in a research note on Friday, July 19th. Finally, Guggenheim boosted their target price on shares of Netflix from $700.00 to $735.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $685.29.

Insider Buying and Selling at Netflix

In other news, CFO Spencer Adam Neumann sold 433 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $626.19, for a total value of $271,140.27. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Netflix news, Chairman Reed Hastings sold 25,599 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $631.43, for a total transaction of $16,163,976.57. Following the completion of the sale, the chairman now owns 57 shares of the company’s stock, valued at $35,991.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Spencer Adam Neumann sold 433 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $626.19, for a total value of $271,140.27. The disclosure for this sale can be found here. Insiders sold a total of 196,798 shares of company stock worth $129,552,672 in the last three months. 1.76% of the stock is currently owned by company insiders.

Netflix Trading Up 1.5 %

NASDAQ:NFLX opened at $706.91 on Wednesday. The company has a market cap of $304.68 billion, a PE ratio of 49.06, a price-to-earnings-growth ratio of 1.40 and a beta of 1.26. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. The company has a 50 day simple moving average of $660.64 and a two-hundred day simple moving average of $639.15. Netflix, Inc. has a 12 month low of $344.73 and a 12 month high of $711.33.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results 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. The firm had revenue of $9.56 billion for the quarter, compared to the consensus estimate of $9.53 billion. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The company’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same period last year, the business posted $3.29 EPS. Research analysts forecast that Netflix, Inc. will post 19.08 earnings per share for the current year.

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.