Beacon Financial Advisory LLC Sells 90 Shares of Netflix, Inc. (NASDAQ:NFLX)

Beacon Financial Advisory LLC cut its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 6.6% during the third quarter, HoldingsChannel.com reports. The firm owned 1,274 shares of the Internet television network’s stock after selling 90 shares during the quarter. Beacon Financial Advisory LLC’s holdings in Netflix were worth $904,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of NFLX. Richardson Financial Services Inc. increased its holdings in Netflix by 3,580.0% in the first quarter. Richardson Financial Services Inc. now owns 184 shares of the Internet television network’s stock valued at $112,000 after purchasing an additional 179 shares during the last quarter. Cohen Capital Management Inc. bought a new position in Netflix in the first quarter valued at $281,000. Financial Council LLC acquired a new stake in shares of Netflix in the first quarter valued at about $237,000. Advisory Alpha LLC raised its stake in shares of Netflix by 5.7% during the 1st quarter. Advisory Alpha LLC now owns 1,564 shares of the Internet television network’s stock worth $950,000 after purchasing an additional 85 shares in the last quarter. Finally, Manchester Capital Management LLC lifted its stake in Netflix by 39.4% in the first quarter. Manchester Capital Management LLC now owns 478 shares of the Internet television network’s stock valued at $290,000 after acquiring an additional 135 shares during the last quarter. Institutional investors own 80.93% of the company’s stock.

Insider Buying and Selling

In other Netflix news, Chairman Reed Hastings sold 41,601 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $758.06, for a total value of $31,536,054.06. Following the transaction, the chairman now directly owns 85 shares of the company’s stock, valued at approximately $64,435.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Chairman Reed Hastings sold 41,601 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $758.06, for a total transaction of $31,536,054.06. Following the transaction, the chairman now owns 85 shares of the company’s stock, valued at $64,435.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Spencer Adam Neumann sold 433 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $626.19, for a total value of $271,140.27. The disclosure for this sale can be found here. Insiders sold 229,477 shares of company stock valued at $160,300,776 over the last 90 days. Company insiders own 1.76% of the company’s stock.

Wall Street Analyst Weigh In

NFLX has been the topic of a number of recent analyst reports. BMO Capital Markets reissued an “outperform” rating and set a $825.00 target price (up from $770.00) on shares of Netflix in a report on Friday, October 18th. Wolfe Research reaffirmed an “outperform” rating on shares of Netflix in a research report on Friday, October 18th. Redburn Atlantic upped their price objective on Netflix from $740.00 to $760.00 and gave the company a “buy” rating in a report on Friday, July 19th. China Renaissance initiated coverage on Netflix in a report on Thursday, September 5th. They set a “hold” rating and a $680.00 target price for the company. Finally, UBS Group raised their price target on shares of Netflix from $750.00 to $825.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $748.15.

Netflix Stock Performance

Shares of NFLX opened at $763.91 on Wednesday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. The firm’s fifty day simple moving average is $715.67 and its two-hundred day simple moving average is $667.19. Netflix, Inc. has a 12 month low of $429.61 and a 12 month high of $773.00. The stock has a market capitalization of $326.54 billion, a P/E ratio of 43.23, a price-to-earnings-growth ratio of 1.46 and a beta of 1.25.

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.