Arrow Financial Corp Sells 35 Shares of Netflix, Inc. (NASDAQ:NFLX)

Arrow Financial Corp cut its stake in Netflix, Inc. (NASDAQ:NFLX) by 0.7% in the third quarter, Holdings Channel.com reports. The firm owned 5,287 shares of the Internet television network’s stock after selling 35 shares during the period. Arrow Financial Corp’s holdings in Netflix were worth $3,750,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. International Assets Investment Management LLC lifted its stake in shares of Netflix by 116,620.0% in the third quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock valued at $4,080,522,000 after buying an additional 5,748,200 shares during the period. GQG Partners LLC acquired a new position in Netflix in the 1st quarter valued at approximately $1,450,476,000. Assenagon Asset Management S.A. lifted its position in shares of Netflix by 154.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,058,431 shares of the Internet television network’s stock worth $750,713,000 after acquiring an additional 642,920 shares during the period. Jericho Capital Asset Management L.P. acquired a new stake in shares of Netflix during the 1st quarter worth approximately $372,293,000. Finally, Swedbank AB bought a new stake in shares of Netflix during the first quarter valued at approximately $216,538,000. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Netflix

In other Netflix news, CFO Spencer Adam Neumann sold 433 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $772.10, for a total transaction of $334,319.30. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider David A. Hyman sold 13,791 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $700.00, for a total value of $9,653,700.00. Following the completion of the sale, the insider now owns 31,610 shares in the company, valued at $22,127,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Spencer Adam Neumann sold 433 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $772.10, for a total value of $334,319.30. The disclosure for this sale can be found here. Insiders have sold 242,112 shares of company stock worth $169,954,456 in the last three months. Insiders own 1.76% of the company’s stock.

Netflix Stock Performance

Shares of NASDAQ:NFLX opened at $795.04 on Friday. 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 1-year low of $434.35 and a 1-year high of $799.06. The stock has a market capitalization of $339.85 billion, a P/E ratio of 44.99, a P/E/G ratio of 1.50 and a beta of 1.25. The business has a 50-day moving average price of $721.55 and a two-hundred day moving average price of $670.54.

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

Analyst Upgrades and Downgrades

NFLX has been the topic of several analyst reports. Barclays reissued an “underweight” rating and issued a $550.00 price target on shares of Netflix in a report on Friday, October 18th. KeyCorp upped their target price on shares of Netflix from $760.00 to $785.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. TD Cowen raised their price target on shares of Netflix from $820.00 to $835.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Sanford C. Bernstein upped their price objective on Netflix from $625.00 to $780.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. Finally, Macquarie reissued an “outperform” rating and issued a $795.00 target price on shares of Netflix in a report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $748.15.

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.