Orion Portfolio Solutions LLC Sells 1,062 Shares of Netflix, Inc. (NASDAQ:NFLX)

Orion Portfolio Solutions LLC cut its position in Netflix, Inc. (NASDAQ:NFLX) by 2.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 39,398 shares of the Internet television network’s stock after selling 1,062 shares during the period. Orion Portfolio Solutions LLC’s holdings in Netflix were worth $27,944,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in NFLX. DigitalBridge Group Inc. grew its position in Netflix by 35.5% during the 2nd quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock worth $24,338,000 after acquiring an additional 9,451 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Netflix by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,579,404 shares of the Internet television network’s stock worth $1,829,494,000 after purchasing an additional 29,726 shares during the last quarter. Natixis Advisors LLC increased its stake in shares of Netflix by 2.0% in the third quarter. Natixis Advisors LLC now owns 612,458 shares of the Internet television network’s stock valued at $434,398,000 after buying an additional 11,921 shares in the last quarter. Kestra Investment Management LLC bought a new position in shares of Netflix in the third quarter valued at about $1,517,000. Finally, Westfield Capital Management Co. LP acquired a new position in Netflix during the 3rd quarter worth about $222,871,000. 80.93% of the stock is owned by institutional investors.

Netflix Stock Performance

Shares of NFLX opened at $934.74 on Friday. The firm has a market cap of $399.56 billion, a P/E ratio of 52.90, a PEG ratio of 1.76 and a beta of 1.27. Netflix, Inc. has a twelve month low of $448.32 and a twelve month high of $935.27. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13. The firm’s 50 day moving average price is $788.37 and its two-hundred day moving average price is $707.66.

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

Analysts Set New Price Targets

A number of brokerages have weighed in on NFLX. Bank of America boosted their target price on shares of Netflix from $800.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Morgan Stanley boosted their price objective on shares of Netflix from $820.00 to $830.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Evercore ISI increased their price objective on Netflix from $775.00 to $950.00 and gave the company an “outperform” rating in a research report on Monday, December 2nd. UBS Group boosted their target price on Netflix from $750.00 to $825.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Finally, Wolfe Research reiterated an “outperform” rating on shares of Netflix in a report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $783.00.

Insider Activity

In other news, Director Anne M. Sweeney sold 589 shares of Netflix stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $880.00, for a total value of $518,320.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Reed Hastings sold 48,363 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the transaction, the chairman now owns 114 shares of the company’s stock, valued at $102,212.40. The trade was a 99.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 209,155 shares of company stock worth $159,682,799 over the last three months. Corporate insiders own 1.76% of the company’s stock.

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.