Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Tower Bridge Advisors

Tower Bridge Advisors reduced its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 9.3% in the 3rd quarter, Holdings Channel reports. The fund owned 1,389 shares of the Internet television network’s stock after selling 143 shares during the period. Tower Bridge Advisors’ holdings in Netflix were worth $985,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Denver PWM LLC purchased a new position in Netflix during the second quarter valued at approximately $25,000. Proffitt & Goodson Inc. raised its position in Netflix by 380.0% during the second quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock valued at $32,000 after acquiring an additional 38 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. raised its position in Netflix by 700.0% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock valued at $34,000 after acquiring an additional 42 shares in the last quarter. AlphaMark Advisors LLC raised its position in Netflix by 642.9% during the second quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock valued at $35,000 after acquiring an additional 45 shares in the last quarter. Finally, First Personal Financial Services purchased a new position in Netflix during the third quarter valued at approximately $40,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Netflix Stock Performance

NASDAQ NFLX opened at $823.96 on Friday. The stock’s fifty day moving average is $735.77 and its two-hundred day moving average is $680.46. The firm has a market capitalization of $352.21 billion, a P/E ratio of 46.63, a price-to-earnings-growth ratio of 1.59 and a beta of 1.25. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13. Netflix, Inc. has a fifty-two week low of $445.73 and a fifty-two week high of $841.00.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data 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 return on equity of 35.86% and a net margin of 20.70%. The company had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.77 billion. On average, research analysts anticipate that Netflix, Inc. will post 19.78 earnings per share for the current year.

Wall Street Analyst Weigh In

NFLX has been the subject of several recent research reports. JPMorgan Chase & Co. lifted their price target on Netflix from $750.00 to $850.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Wolfe Research reiterated an “outperform” rating on shares of Netflix in a research report on Friday, October 18th. Guggenheim boosted their price objective on Netflix from $810.00 to $825.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. UBS Group boosted their price objective on Netflix from $750.00 to $825.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Finally, Bank of America boosted their price objective on Netflix from $740.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $748.15.

Insider Activity

In other news, Director Leslie J. Kilgore sold 1,372 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $704.81, for a total value of $966,999.32. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Gregory K. Peters sold 4,644 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 $3,250,800.00. Following the completion of the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at approximately $9,163,000. This trade represents a 26.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 205,084 shares of company stock valued at $146,747,101 in the last quarter. Insiders own 1.76% of the company’s stock.

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.