Tower Bridge Advisors Sells 143 Shares of Netflix, Inc. (NASDAQ:NFLX)

Tower Bridge Advisors lessened its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 9.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,389 shares of the Internet television network’s stock after selling 143 shares during the period. Tower Bridge Advisors’ holdings in Netflix were worth $985,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of NFLX. Denver PWM LLC purchased a new stake in Netflix during the 2nd quarter valued at $25,000. Proffitt & Goodson Inc. raised its holdings in Netflix by 380.0% during the 2nd quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock valued at $32,000 after buying an additional 38 shares during the period. E Fund Management Hong Kong Co. Ltd. raised its holdings in Netflix by 700.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock valued at $34,000 after buying an additional 42 shares during the period. AlphaMark Advisors LLC raised its holdings in Netflix by 642.9% during the 2nd quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock valued at $35,000 after buying an additional 45 shares during the period. Finally, Triad Wealth Partners LLC purchased a new stake in Netflix during the 2nd quarter valued at $38,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Price Performance

Shares of NFLX stock opened at $823.96 on Friday. 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 company has a market cap of $352.21 billion, a P/E ratio of 46.63, a PEG ratio of 1.59 and a beta of 1.25. The stock’s 50-day moving average is $735.77 and its 200 day moving average is $680.46. Netflix, Inc. has a 1-year low of $445.73 and a 1-year high of $841.00.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, topping the consensus estimate of $5.09 by $0.31. The business 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%. Research analysts predict that Netflix, Inc. will post 19.78 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Gregory K. Peters sold 4,644 shares of Netflix stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $700.00, for a total transaction of $3,250,800.00. Following the completion of the sale, the chief executive officer now owns 13,090 shares of the company’s stock, valued at $9,163,000. The trade was a 26.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider David A. Hyman sold 13,791 shares of Netflix stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $700.00, for a total value of $9,653,700.00. Following the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at $22,127,000. This trade represents a 30.38 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 205,084 shares of company stock valued at $146,747,101. 1.76% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NFLX. KeyCorp increased their price target on Netflix from $760.00 to $785.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Barclays reiterated an “underweight” rating and issued a $550.00 target price on shares of Netflix in a research note on Friday, October 18th. China Renaissance started coverage on Netflix in a research note on Thursday, September 5th. They issued a “hold” rating and a $680.00 target price on the stock. Sanford C. Bernstein increased their target price on Netflix from $625.00 to $780.00 and gave the stock a “market perform” rating in a research note on Friday, October 18th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $825.00 target price (up previously from $770.00) on shares of Netflix in a research note 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 stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $748.15.

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.