Prentice Wealth Management LLC Trims Stake in Netflix, Inc. (NASDAQ:NFLX)

Prentice Wealth Management LLC lessened its position in Netflix, Inc. (NASDAQ:NFLX) by 9.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 746 shares of the Internet television network’s stock after selling 78 shares during the quarter. Prentice Wealth Management LLC’s holdings in Netflix were worth $529,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Netflix by 0.4% during the first quarter. Vanguard Group Inc. now owns 36,587,911 shares of the Internet television network’s stock valued at $22,220,936,000 after purchasing an additional 149,341 shares during the last quarter. Jennison Associates LLC boosted its holdings in Netflix by 17.0% in the first quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock worth $3,875,655,000 after acquiring an additional 929,193 shares in the last quarter. Baillie Gifford & Co. grew its stake in shares of Netflix by 2.3% in the second quarter. Baillie Gifford & Co. now owns 4,762,069 shares of the Internet television network’s stock worth $3,213,825,000 after acquiring an additional 106,756 shares during the last quarter. Fisher Asset Management LLC grew its stake in shares of Netflix by 1.8% in the fourth quarter. Fisher Asset Management LLC now owns 4,115,613 shares of the Internet television network’s stock worth $2,003,810,000 after acquiring an additional 72,807 shares during the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of Netflix by 540.9% during the fourth quarter. Wellington Management Group LLP now owns 3,878,785 shares of the Internet television network’s stock valued at $1,888,503,000 after acquiring an additional 3,273,592 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors.

Netflix Price Performance

Shares of Netflix stock traded down $17.78 during trading hours on Monday, hitting $701.92. The company’s stock had a trading volume of 3,301,680 shares, compared to its average volume of 3,672,094. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95. Netflix, Inc. has a 12-month low of $344.73 and a 12-month high of $725.26. The business has a 50 day moving average price of $676.85 and a two-hundred day moving average price of $648.20. The company has a market cap of $302.53 billion, a PE ratio of 48.63, a PEG ratio of 1.44 and a beta of 1.26.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, topping the consensus estimate of $4.74 by $0.14. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The business had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $9.53 billion. During the same period in the prior year, the company posted $3.29 EPS. The firm’s revenue for the quarter was up 16.8% compared to the same quarter last year. Analysts expect that Netflix, Inc. will post 19.08 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on NFLX shares. Benchmark increased their price objective on shares of Netflix from $450.00 to $545.00 and gave the company a “sell” rating in a research report on Tuesday, July 16th. Redburn Atlantic raised their price target on shares of Netflix from $740.00 to $760.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Pivotal Research upped their price objective on Netflix from $800.00 to $900.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Argus lifted their target price on Netflix from $660.00 to $767.00 and gave the stock a “buy” rating in a report on Tuesday, July 2nd. Finally, Barclays reaffirmed an “underweight” rating and set a $550.00 price target on shares of Netflix in a report on Monday. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat, Netflix presently has an average rating of “Moderate Buy” and an average price target of $691.76.

Insider Activity at Netflix

In other news, CEO Gregory K. Peters sold 4,392 shares of Netflix stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $725.00, for a total value of $3,184,200.00. Following the sale, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at approximately $9,490,250. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Gregory K. Peters sold 1,278 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $614.44, for a total value of $785,254.32. Following the completion of the transaction, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at approximately $8,043,019.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 sale, the chief executive officer now directly owns 13,090 shares in the company, valued at approximately $9,490,250. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 224,784 shares of company stock valued at $150,212,870. Corporate 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.