Concentric Wealth Management LLC Decreases Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Concentric Wealth Management LLC lessened its holdings in Netflix, Inc. (NASDAQ:NFLX) by 35.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 538 shares of the Internet television network’s stock after selling 300 shares during the period. Concentric Wealth Management LLC’s holdings in Netflix were worth $382,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in NFLX. Harvest Fund Management Co. Ltd boosted its position in shares of Netflix by 36.9% in the third quarter. Harvest Fund Management Co. Ltd now owns 31,022 shares of the Internet television network’s stock worth $22,003,000 after buying an additional 8,359 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Netflix during the 3rd quarter worth approximately $2,793,000. Fisher Asset Management LLC boosted its holdings in Netflix by 2.8% in the 3rd quarter. Fisher Asset Management LLC now owns 4,481,939 shares of the Internet television network’s stock worth $3,178,905,000 after acquiring an additional 123,987 shares during the period. Daiwa Securities Group Inc. grew its position in Netflix by 20.4% in the third quarter. Daiwa Securities Group Inc. now owns 378,004 shares of the Internet television network’s stock valued at $268,106,000 after acquiring an additional 64,149 shares in the last quarter. Finally, Hartford Funds Management Co LLC raised its stake in shares of Netflix by 4.1% during the third quarter. Hartford Funds Management Co LLC now owns 1,024 shares of the Internet television network’s stock valued at $727,000 after purchasing an additional 40 shares during the period. Institutional investors and hedge funds own 80.93% of the company’s stock.

Insider Activity

In related news, CEO Gregory K. Peters sold 4,392 shares of the company’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $725.00, for a total transaction of $3,184,200.00. Following the completion of the sale, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at approximately $9,490,250. This represents a 25.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Anne M. Sweeney sold 589 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $880.00, for a total transaction of $518,320.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 185,866 shares of company stock valued at $133,393,921. Insiders own 1.76% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Jefferies Financial Group lifted their target price on Netflix from $780.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. StockNews.com upgraded Netflix from a “hold” rating to a “buy” rating in a research note on Tuesday, September 24th. Guggenheim upped their price target on Netflix from $810.00 to $825.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. Wolfe Research reaffirmed an “outperform” rating on shares of Netflix in a report on Friday, October 18th. Finally, Pivotal Research upped their target price on Netflix from $925.00 to $1,100.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $764.82.

Netflix Trading Up 0.0 %

Shares of NASDAQ NFLX opened at $897.79 on Monday. The firm has a market capitalization of $383.77 billion, a PE ratio of 50.81, a PEG ratio of 1.73 and a beta of 1.25. Netflix, Inc. has a one year low of $445.73 and a one year high of $908.00. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. The business has a 50-day moving average price of $755.40 and a two-hundred day moving average price of $691.50.

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