Bogart Wealth LLC Sells 3,156 Shares of Netflix, Inc. $NFLX

Bogart Wealth LLC lowered its stake in Netflix, Inc. (NASDAQ:NFLX) by 20.6% in the second quarter, HoldingsChannel.com reports. The firm owned 12,165 shares of the Internet television network’s stock after selling 3,156 shares during the quarter. Netflix comprises 0.7% of Bogart Wealth LLC’s investment portfolio, making the stock its 26th largest position. Bogart Wealth LLC’s holdings in Netflix were worth $16,291,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Drive Wealth Management LLC increased its holdings in shares of Netflix by 4.8% in the second quarter. Drive Wealth Management LLC now owns 1,601 shares of the Internet television network’s stock valued at $2,144,000 after purchasing an additional 73 shares in the last quarter. Canvas Wealth Advisors LLC increased its holdings in shares of Netflix by 19.8% in the second quarter. Canvas Wealth Advisors LLC now owns 980 shares of the Internet television network’s stock valued at $1,312,000 after purchasing an additional 162 shares in the last quarter. Princeton Global Asset Management LLC increased its holdings in shares of Netflix by 13.1% in the second quarter. Princeton Global Asset Management LLC now owns 328 shares of the Internet television network’s stock valued at $439,000 after purchasing an additional 38 shares in the last quarter. Schnieders Capital Management LLC increased its holdings in shares of Netflix by 12.1% in the second quarter. Schnieders Capital Management LLC now owns 2,115 shares of the Internet television network’s stock valued at $2,832,000 after purchasing an additional 228 shares in the last quarter. Finally, Townsend & Associates Inc acquired a new stake in shares of Netflix in the second quarter valued at approximately $232,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on NFLX shares. Itau BBA Securities started coverage on shares of Netflix in a report on Tuesday, October 7th. They issued an “outperform” rating and a $1,514.00 price target for the company. Cowen reissued a “buy” rating on shares of Netflix in a report on Tuesday, October 7th. Needham & Company LLC reissued a “buy” rating and issued a $1,500.00 price target on shares of Netflix in a report on Wednesday, September 10th. Phillip Securities lowered shares of Netflix from a “hold” rating to a “strong sell” rating in a report on Monday, July 21st. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Netflix in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,339.81.

Insider Activity at Netflix

In other news, CEO Theodore A. Sarandos sold 2,026 shares of Netflix stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $1,160.62, for a total transaction of $2,351,416.12. Following the transaction, the chief executive officer directly owned 15,168 shares of the company’s stock, valued at $17,604,284.16. This trade represents a 11.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider David A. Hyman sold 424 shares of Netflix stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $1,158.67, for a total transaction of $491,276.08. Following the transaction, the insider directly owned 31,610 shares in the company, valued at approximately $36,625,558.70. This represents a 1.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 104,100 shares of company stock valued at $122,710,980. 1.37% of the stock is owned by corporate insiders.

Netflix Trading Up 1.3%

Shares of NASDAQ NFLX opened at $1,199.36 on Monday. The company’s fifty day moving average is $1,213.47 and its 200-day moving average is $1,179.41. The stock has a market cap of $509.64 billion, a price-to-earnings ratio of 51.10, a P/E/G ratio of 2.02 and a beta of 1.59. Netflix, Inc. has a twelve month low of $736.23 and a twelve month high of $1,341.15. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.58.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share for the quarter, topping analysts’ consensus estimates of $7.07 by $0.12. The company had revenue of $11.08 billion for the quarter, compared to analysts’ expectations of $11.04 billion. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The business’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period last year, the firm posted $4.88 earnings per share. Equities research analysts predict that Netflix, Inc. will post 24.58 EPS for the current year.

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.