Audent Global Asset Management LLC Reduces Holdings in Netflix, Inc. (NASDAQ:NFLX)

Audent Global Asset Management LLC lowered its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 52.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 2,577 shares of the Internet television network’s stock after selling 2,797 shares during the period. Netflix makes up about 3.1% of Audent Global Asset Management LLC’s investment portfolio, making the stock its 11th largest position. Audent Global Asset Management LLC’s holdings in Netflix were worth $1,828,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. New World Advisors LLC increased its position in Netflix by 2.0% in the 3rd quarter. New World Advisors LLC now owns 724 shares of the Internet television network’s stock valued at $514,000 after acquiring an additional 14 shares during the period. Heartland Bank & Trust Co increased its position in Netflix by 0.9% in the 2nd quarter. Heartland Bank & Trust Co now owns 1,770 shares of the Internet television network’s stock valued at $1,195,000 after acquiring an additional 15 shares during the period. Cedrus LLC increased its position in Netflix by 0.8% in the 3rd quarter. Cedrus LLC now owns 1,781 shares of the Internet television network’s stock valued at $1,263,000 after acquiring an additional 15 shares during the period. Capstone Triton Financial Group LLC increased its position in Netflix by 0.6% in the 3rd quarter. Capstone Triton Financial Group LLC now owns 2,421 shares of the Internet television network’s stock valued at $1,717,000 after acquiring an additional 15 shares during the period. Finally, Meritas Wealth Management LLC increased its position in Netflix by 2.9% in the 3rd quarter. Meritas Wealth Management LLC now owns 573 shares of the Internet television network’s stock valued at $406,000 after acquiring an additional 16 shares during the period. Institutional investors and hedge funds own 80.93% of the company’s stock.

Insider Buying and Selling

In other Netflix news, Chairman Reed Hastings sold 45,290 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $706.16, for a total value of $31,981,986.40. Following the sale, the chairman now owns 85 shares in the company, valued at approximately $60,023.60. This trade represents a 99.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gregory K. Peters sold 4,392 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 13,090 shares in the company, valued at $9,490,250. The trade was a 25.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 185,866 shares of company stock worth $133,393,921 over the last quarter. 1.76% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

NFLX has been the topic of several recent research reports. StockNews.com upgraded Netflix from a “hold” rating to a “buy” rating in a research report on Tuesday, September 24th. Morgan Stanley lifted 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. Guggenheim lifted their price objective on Netflix from $810.00 to $825.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. Sanford C. Bernstein lifted their price objective on Netflix from $625.00 to $780.00 and gave the company a “market perform” rating in a report on Friday, October 18th. Finally, Pivotal Research lifted their price objective on Netflix from $925.00 to $1,100.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $764.82.

Netflix Stock Performance

NASDAQ:NFLX opened at $886.81 on Monday. 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 has a 50-day moving average of $773.01 and a two-hundred day moving average of $700.75. The stock has a market cap of $379.08 billion, a P/E ratio of 50.19, a PEG ratio of 1.71 and a beta of 1.25. Netflix, Inc. has a 1-year low of $445.73 and a 1-year high of $908.00.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 earnings per share 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 during the quarter, compared to analysts’ expectations of $9.77 billion. On average, research analysts expect that Netflix, Inc. will post 19.78 earnings per share for the current fiscal 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.