Netflix, Inc. (NASDAQ:NFLX) Shares Sold by New Millennium Group LLC

New Millennium Group LLC trimmed its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 46.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,391 shares of the Internet television network’s stock after selling 1,221 shares during the period. New Millennium Group LLC’s holdings in Netflix were worth $987,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. West Family Investments Inc. grew its stake in shares of Netflix by 7.4% in the third quarter. West Family Investments Inc. now owns 1,723 shares of the Internet television network’s stock worth $1,222,000 after purchasing an additional 119 shares in the last quarter. Second Half Financial Partners LLC lifted its holdings in Netflix by 3.1% in the third quarter. Second Half Financial Partners LLC now owns 1,020 shares of the Internet television network’s stock worth $723,000 after purchasing an additional 31 shares during the period. Horan Capital Advisors LLC. grew its position in Netflix by 3.0% in the 3rd quarter. Horan Capital Advisors LLC. now owns 680 shares of the Internet television network’s stock valued at $482,000 after buying an additional 20 shares in the last quarter. Parnassus Investments LLC increased its stake in Netflix by 7.7% during the 3rd quarter. Parnassus Investments LLC now owns 1,135 shares of the Internet television network’s stock valued at $805,000 after buying an additional 81 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Netflix during the 3rd quarter worth about $47,189,000. Institutional investors own 80.93% of the company’s stock.

Insider Activity

In other Netflix news, Chairman Reed Hastings sold 45,290 shares of Netflix stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $706.16, for a total transaction of $31,981,986.40. Following the sale, the chairman now owns 85 shares in the company, valued at $60,023.60. The trade was a 99.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Timothy M. Haley sold 11,090 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $757.96, for a total transaction of $8,405,776.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 185,277 shares of company stock worth $132,875,601. Company insiders own 1.76% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Bank of America upped their price objective on Netflix from $740.00 to $800.00 and gave the company a “buy” rating in a report on Friday, October 18th. Wells Fargo & Company upped their price target on shares of Netflix from $758.00 to $797.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Loop Capital raised their price objective on shares of Netflix from $750.00 to $800.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Rosenblatt Securities boosted their target price on shares of Netflix from $635.00 to $680.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Finally, Wedbush reissued an “outperform” rating and set a $950.00 target price (up from $800.00) on shares of Netflix in a research note on Monday. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat.com, Netflix has an average rating of “Moderate Buy” and an average target price of $753.45.

Netflix Stock Performance

NASDAQ NFLX opened at $838.11 on Tuesday. The company’s fifty day moving average is $739.20 and its two-hundred day moving average is $683.35. Netflix, Inc. has a 52-week low of $445.73 and a 52-week high of $848.45. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a market capitalization of $358.26 billion, a price-to-earnings ratio of 47.94, a P/E/G ratio of 1.59 and a beta of 1.25.

Netflix (NASDAQ:NFLX) last released its 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. The business had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.77 billion. Netflix had a return on equity of 35.86% and a net margin of 20.70%. Equities research analysts forecast that Netflix, Inc. will post 19.78 EPS for the current year.

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.