Bank Pictet & Cie Europe AG Sells 62 Shares of Netflix, Inc. (NASDAQ:NFLX)

Bank Pictet & Cie Europe AG lowered its stake in Netflix, Inc. (NASDAQ:NFLX) by 3.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,614 shares of the Internet television network’s stock after selling 62 shares during the quarter. Bank Pictet & Cie Europe AG’s holdings in Netflix were worth $1,145,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. AdvisorNet Financial Inc increased its stake in shares of Netflix by 4.9% in the first quarter. AdvisorNet Financial Inc now owns 833 shares of the Internet television network’s stock worth $506,000 after purchasing an additional 39 shares in the last quarter. Sovereign Financial Group Inc. raised its holdings in Netflix by 33.3% during the first quarter. Sovereign Financial Group Inc. now owns 1,089 shares of the Internet television network’s stock valued at $661,000 after acquiring an additional 272 shares during the period. Aletheian Wealth Advisors LLC bought a new stake in Netflix during the first quarter valued at about $202,000. Aspiriant LLC boosted its stake in shares of Netflix by 26.2% in the first quarter. Aspiriant LLC now owns 1,603 shares of the Internet television network’s stock worth $974,000 after acquiring an additional 333 shares during the period. Finally, RFG Holdings Inc. purchased a new stake in shares of Netflix during the first quarter worth about $364,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Rosenblatt Securities upped their price target on Netflix from $635.00 to $680.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Barclays restated an “underweight” rating and set a $550.00 target price on shares of Netflix in a research report on Friday, October 18th. Morgan Stanley raised their target price on shares of Netflix from $820.00 to $830.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Jefferies Financial Group boosted their price target on shares of Netflix from $780.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Finally, TD Cowen raised their price objective on 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 issued a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $747.70.

Insider Activity at Netflix

In other Netflix news, insider David A. Hyman sold 20,656 shares of Netflix stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the completion of the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at $19,128,159.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Netflix news, CFO Spencer Adam Neumann sold 433 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $626.19, for a total transaction of $271,140.27. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider David A. Hyman sold 20,656 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the completion of the sale, the insider now owns 31,610 shares of the company’s stock, valued at approximately $19,128,159.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 229,711 shares of company stock worth $153,905,830. Company insiders own 1.76% of the company’s stock.

Netflix Price Performance

Netflix stock opened at $764.24 on Wednesday. The stock has a market cap of $329.39 billion, a price-to-earnings ratio of 53.04, a price-to-earnings-growth ratio of 1.49 and a beta of 1.26. The firm has a 50-day moving average of $701.48 and a two-hundred day moving average of $657.11. Netflix, Inc. has a 1 year low of $395.62 and a 1 year high of $773.00. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95.

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.