Soltis Investment Advisors LLC Sells 48 Shares of Netflix, Inc. (NASDAQ:NFLX)

Soltis Investment Advisors LLC reduced its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 0.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,334 shares of the Internet television network’s stock after selling 48 shares during the quarter. Soltis Investment Advisors LLC’s holdings in Netflix were worth $7,330,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Denver PWM LLC bought a new position in shares of Netflix in the 2nd quarter worth approximately $25,000. RPg Family Wealth Advisory LLC bought a new position in Netflix in the third quarter worth $25,000. Proffitt & Goodson Inc. lifted its position in Netflix by 380.0% during the second quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock valued at $32,000 after buying an additional 38 shares during the period. E Fund Management Hong Kong Co. Ltd. boosted its holdings in shares of Netflix by 700.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock valued at $34,000 after buying an additional 42 shares in the last quarter. Finally, AlphaMark Advisors LLC grew its position in shares of Netflix by 642.9% in the 2nd quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock worth $35,000 after buying an additional 45 shares during the period. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Trading Down 0.0 %

Netflix stock opened at $913.35 on Wednesday. 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’s 50 day moving average price is $797.01 and its 200-day moving average price is $712.57. Netflix, Inc. has a 1 year low of $457.21 and a 1 year high of $935.27. The stock has a market cap of $390.42 billion, a P/E ratio of 51.69, a PEG ratio of 1.80 and a beta of 1.27.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. increased their target price on Netflix from $750.00 to $850.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Evercore ISI raised their price objective on shares of Netflix from $775.00 to $950.00 and gave the company an “outperform” rating in a research note on Monday, December 2nd. Bank of America lifted their target price on shares of Netflix from $800.00 to $1,000.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Wedbush reiterated an “outperform” rating and set a $950.00 price target (up previously from $800.00) on shares of Netflix in a report on Monday, November 18th. Finally, Piper Sandler restated an “overweight” rating and issued a $840.00 price objective (up from $800.00) on shares of Netflix in a report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $783.00.

Insider Buying and Selling at Netflix

In related news, insider David A. Hyman sold 267 shares of Netflix stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total transaction of $204,433.89. Following the completion of the sale, the insider now owns 31,610 shares in the company, valued at $24,202,828.70. This trade represents a 0.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Reed Hastings sold 48,363 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $896.60, for a total value of $43,362,265.80. Following the completion of the sale, 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 ninety days. Company insiders own 1.76% of the company’s stock.

Netflix 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.