Sierra Capital LLC Sells 1,152 Shares of Netflix, Inc. (NASDAQ:NFLX)

Sierra Capital LLC reduced its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 51.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,084 shares of the Internet television network’s stock after selling 1,152 shares during the period. Sierra Capital LLC’s holdings in Netflix were worth $769,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. GQG Partners LLC acquired a new stake in Netflix in the 1st quarter valued at about $1,450,476,000. Jennison Associates LLC grew its position in shares of Netflix by 17.0% during the 1st quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock worth $3,875,655,000 after buying an additional 929,193 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. Swedbank AB acquired a new stake in shares of Netflix during the 1st quarter worth approximately $216,538,000. Finally, Renaissance Technologies LLC acquired a new stake in shares of Netflix during the 2nd quarter worth approximately $183,365,000. 80.93% of the stock is owned by institutional investors.

Netflix Stock Down 1.3 %

Netflix stock traded down $10.32 during trading on Tuesday, hitting $761.75. 1,501,883 shares of the company were exchanged, compared to its average volume of 3,723,968. The business’s 50 day moving average is $699.16 and its 200 day moving average is $656.21. Netflix, Inc. has a 52 week low of $395.62 and a 52 week high of $773.00. The company has a market capitalization of $328.31 billion, a P/E ratio of 53.21, a PEG ratio of 1.49 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.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Oppenheimer lifted their price target on shares of Netflix from $775.00 to $825.00 and gave the stock an “outperform” rating in a research report on Friday. Wedbush boosted their price objective on shares of Netflix from $725.00 to $775.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Bank of America boosted their price objective on shares of Netflix from $740.00 to $800.00 and gave the company a “buy” rating in a report on Friday. Macquarie restated an “outperform” rating and set a $795.00 price objective on shares of Netflix in a report on Friday. Finally, Wells Fargo & Company lifted their price target on shares of Netflix from $758.00 to $797.00 and gave the company an “overweight” rating in a research note on Friday. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $747.70.

Insider Activity at Netflix

In other Netflix news, Chairman Reed Hastings sold 45,290 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $706.16, for a total value of $31,981,986.40. Following the transaction, the chairman now directly owns 85 shares in the company, valued at $60,023.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Netflix news, Chairman Reed Hastings sold 45,290 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $706.16, for a total value of $31,981,986.40. Following the transaction, the chairman now directly owns 85 shares in the company, valued at $60,023.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Spencer Adam Neumann sold 433 shares of the stock in a transaction dated Thursday, August 8th. The shares were 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. In the last three months, insiders have sold 229,711 shares of company stock worth $153,905,830. 1.76% of the stock is owned by company insiders.

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.