Biltmore Wealth Management LLC Lowers Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Biltmore Wealth Management LLC lessened its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 17.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 542 shares of the Internet television network’s stock after selling 115 shares during the quarter. Biltmore Wealth Management LLC’s holdings in Netflix were worth $384,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in NFLX. Denver PWM LLC purchased a new position in shares of Netflix in the 2nd quarter worth $25,000. Valued Wealth Advisors LLC increased its position in Netflix by 80.0% during the 1st quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock worth $27,000 after purchasing an additional 20 shares in the last quarter. VitalStone Financial LLC raised its holdings in Netflix by 933.3% in the fourth quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock valued at $30,000 after buying an additional 56 shares during the period. Beaird Harris Wealth Management LLC lifted its position in Netflix by 1,550.0% during the fourth quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock valued at $32,000 after buying an additional 62 shares in the last quarter. Finally, Scarborough Advisors LLC acquired a new position in Netflix during the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

Insiders Place Their Bets

In other news, Chairman Reed Hastings sold 45,290 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $706.16, for a total transaction of $31,981,986.40. Following the completion of the transaction, the chairman now owns 85 shares in the company, valued at approximately $60,023.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Chairman Reed Hastings sold 45,290 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $706.16, for a total transaction of $31,981,986.40. Following the sale, the chairman now directly owns 85 shares of the company’s stock, valued at $60,023.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider David A. Hyman sold 20,656 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total value of $12,499,565.28. Following the completion of the transaction, the insider now owns 31,610 shares of the company’s stock, valued at $19,128,159.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 224,784 shares of company stock worth $150,212,870 over the last ninety days. Company insiders own 1.76% of the company’s stock.

Netflix Stock Performance

NASDAQ NFLX traded up $12.90 on Friday, hitting $719.70. The stock had a trading volume of 2,230,139 shares, compared to its average volume of 3,674,012. The company’s 50-day moving average is $676.85 and its two-hundred day moving average is $647.86. The stock has a market cap of $310.19 billion, a price-to-earnings ratio of 49.94, a P/E/G ratio of 1.44 and a beta of 1.26. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.55. Netflix, Inc. has a one year low of $344.73 and a one year high of $725.26.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.74 by $0.14. The company had revenue of $9.56 billion during the quarter, compared to analyst estimates of $9.53 billion. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The firm’s quarterly revenue was up 16.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.29 EPS. On average, analysts expect that Netflix, Inc. will post 19.08 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. China Renaissance began coverage on shares of Netflix in a research report on Thursday, September 5th. They set a “hold” rating and a $680.00 price target for the company. TD Cowen upped their price target on Netflix from $725.00 to $775.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. Needham & Company LLC reissued a “buy” rating and set a $700.00 target price on shares of Netflix in a research report on Friday, July 19th. Pivotal Research raised their price target on shares of Netflix from $800.00 to $900.00 and gave the company a “buy” rating in a report on Friday, August 30th. Finally, Redburn Atlantic lifted their price target on shares of Netflix from $740.00 to $760.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Netflix has an average rating of “Moderate Buy” and an average price target of $686.03.

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.