Empowered Funds LLC Reduces Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Empowered Funds LLC trimmed its position in Netflix, Inc. (NASDAQ:NFLX) by 4.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,976 shares of the Internet television network’s stock after selling 465 shares during the quarter. Empowered Funds LLC’s holdings in Netflix were worth $7,076,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Empirical Finance LLC boosted its holdings in shares of Netflix by 1.9% in the 3rd quarter. Empirical Finance LLC now owns 15,079 shares of the Internet television network’s stock valued at $10,695,000 after acquiring an additional 286 shares during the last quarter. Signature Estate & Investment Advisors LLC lifted its holdings in Netflix by 10.4% in the third quarter. Signature Estate & Investment Advisors LLC now owns 519 shares of the Internet television network’s stock valued at $368,000 after acquiring an additional 49 shares during the period. Dearborn Partners LLC grew its stake in shares of Netflix by 19.4% during the 3rd quarter. Dearborn Partners LLC now owns 1,041 shares of the Internet television network’s stock worth $738,000 after purchasing an additional 169 shares during the period. CIBC Asset Management Inc increased its holdings in shares of Netflix by 2.0% during the 3rd quarter. CIBC Asset Management Inc now owns 221,912 shares of the Internet television network’s stock valued at $157,307,000 after purchasing an additional 4,348 shares in the last quarter. Finally, OneDigital Investment Advisors LLC lifted its stake in shares of Netflix by 4.7% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 6,163 shares of the Internet television network’s stock valued at $4,371,000 after purchasing an additional 279 shares during the period. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on NFLX. JPMorgan Chase & Co. lifted their price objective on shares of Netflix from $750.00 to $850.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Morgan Stanley raised their price objective on Netflix from $820.00 to $830.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Canaccord Genuity Group increased their target price on Netflix from $750.00 to $760.00 and gave the company a “hold” rating in a research report on Friday, October 18th. Macquarie reissued an “outperform” rating and issued a $795.00 price target on shares of Netflix in a report on Friday, October 18th. Finally, TD Cowen lifted their target price on shares of Netflix from $820.00 to $835.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $748.15.

Insiders Place Their Bets

In other news, Director Timothy M. Haley sold 647 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $800.19, for a total transaction of $517,722.93. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Spencer Adam Neumann sold 433 shares of Netflix stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $772.10, for a total value of $334,319.30. The disclosure for this sale can be found here. Insiders have sold a total of 205,084 shares of company stock worth $146,747,101 in the last ninety days. 1.76% of the stock is owned by corporate insiders.

Netflix Trading Down 1.6 %

Shares of NASDAQ NFLX opened at $823.96 on Friday. 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 stock has a market capitalization of $352.21 billion, a PE ratio of 46.63, a PEG ratio of 1.59 and a beta of 1.25. Netflix, Inc. has a twelve month low of $445.73 and a twelve month high of $841.00. The stock has a fifty day simple moving average of $735.77 and a 200-day simple moving average of $680.46.

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

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.