Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Strait & Sound Wealth Management LLC

Strait & Sound Wealth Management LLC cut its stake in Netflix, Inc. (NASDAQ:NFLX) by 23.1% in the third quarter, Holdings Channel reports. The firm owned 373 shares of the Internet television network’s stock after selling 112 shares during the period. Strait & Sound Wealth Management LLC’s holdings in Netflix were worth $265,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. International Assets Investment Management LLC grew its holdings in shares of Netflix by 116,620.0% during the third quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock valued at $4,080,522,000 after buying an additional 5,748,200 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in Netflix by 154.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,058,431 shares of the Internet television network’s stock valued at $750,713,000 after purchasing an additional 642,920 shares during the last quarter. State Street Corp increased its holdings in shares of Netflix by 2.6% in the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock valued at $12,023,082,000 after purchasing an additional 426,740 shares during the period. Jennison Associates LLC raised its stake in shares of Netflix by 4.7% in the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after purchasing an additional 316,594 shares during the last quarter. Finally, Westfield Capital Management Co. LP acquired a new stake in shares of Netflix during the third quarter worth about $222,871,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft increased their price target on shares of Netflix from $590.00 to $650.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Jefferies Financial Group boosted their price objective on Netflix from $780.00 to $800.00 and gave the company a “buy” rating in a report on Friday, October 18th. Guggenheim lifted 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. TD Cowen raised their price objective on shares of Netflix from $820.00 to $835.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Finally, Canaccord Genuity Group increased their price target on shares of Netflix from $760.00 to $940.00 and gave the stock a “hold” rating in a report on Monday, December 2nd. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat.com, Netflix has a consensus rating of “Moderate Buy” and a consensus target price of $783.00.

Netflix Price Performance

Shares of NFLX stock opened at $913.69 on Tuesday. 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 company has a market capitalization of $390.57 billion, a PE ratio of 51.71, a price-to-earnings-growth ratio of 1.80 and a beta of 1.27. The firm’s 50-day moving average is $797.01 and its two-hundred day moving average is $712.57. Netflix, Inc. has a 12 month low of $457.21 and a 12 month high of $935.27.

Netflix (NASDAQ:NFLX) last released 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 analysts’ expectations of $9.77 billion. Netflix had a return on equity of 35.86% and a net margin of 20.70%. Analysts predict that Netflix, Inc. will post 19.78 earnings per share for the current year.

Insider Activity

In other news, Director Leslie J. Kilgore sold 428 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $715.00, for a total transaction of $306,020.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jay C. Hoag sold 43,750 shares of Netflix stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $687.07, for a total value of $30,059,312.50. Following the completion of the sale, the director now directly owns 95,040 shares of the company’s stock, valued at $65,299,132.80. The trade was a 31.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 209,155 shares of company stock valued at $159,682,799 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.