Netflix, Inc. (NASDAQ:NFLX) Shares Sold by State of Alaska Department of Revenue

by · The Cerbat Gem

State of Alaska Department of Revenue trimmed its holdings in Netflix, Inc. (NASDAQ:NFLX – Free Report) by 8.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 60,177 shares of the Internet television network’s stock after selling 5,345 shares during the period. Netflix comprises approximately 0.5% of State of Alaska Department of Revenue’s holdings, making the stock its 29th largest holding. State of Alaska Department of Revenue’s holdings in Netflix were worth $42,680,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Carret Asset Management LLC raised its stake in shares of Netflix by 1.5% in the 3rd quarter. Carret Asset Management LLC now owns 1,183 shares of the Internet television network’s stock valued at $839,000 after purchasing an additional 18 shares in the last quarter. Financial Management Professionals Inc. increased its holdings in Netflix by 17.1% in the third quarter. Financial Management Professionals Inc. now owns 301 shares of the Internet television network’s stock valued at $213,000 after buying an additional 44 shares during the last quarter. Frank Rimerman Advisors LLC raised its stake in Netflix by 0.4% during the third quarter. Frank Rimerman Advisors LLC now owns 58,233 shares of the Internet television network’s stock valued at $41,303,000 after buying an additional 234 shares in the last quarter. Smith Salley Wealth Management lifted its holdings in Netflix by 4.9% during the 3rd quarter. Smith Salley Wealth Management now owns 1,488 shares of the Internet television network’s stock worth $1,055,000 after buying an additional 70 shares during the last quarter. Finally, Bristlecone Advisors LLC grew its position in shares of Netflix by 0.8% in the 3rd quarter. Bristlecone Advisors LLC now owns 7,149 shares of the Internet television network’s stock worth $5,071,000 after acquiring an additional 60 shares in the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on NFLX. Evercore ISI upped their price target on Netflix from $750.00 to $775.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Jefferies Financial Group raised their price target on shares of Netflix from $780.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. China Renaissance started coverage on shares of Netflix in a research report on Thursday, September 5th. They set a “hold” rating and a $680.00 price objective for the company. Wells Fargo & Company increased their price objective on shares of Netflix from $758.00 to $797.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Finally, Citigroup lifted their target price on Netflix from $660.00 to $675.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Two research 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. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $747.70.

Read Our Latest Research Report on NFLX

Insiders Place Their Bets

In other news, Director Leslie J. Kilgore sold 358 shares of the stock in a transaction on Friday, October 18th. The stock was sold at an average price of $765.00, for a total transaction of $273,870.00. Following the completion of the sale, the director now owns 35,262 shares in the company, valued at approximately $26,975,430. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Chairman Reed Hastings sold 25,599 shares of Netflix stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $631.43, for a total value of $16,163,976.57. Following the transaction, the chairman now directly owns 57 shares of the company’s stock, valued at $35,991.51. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Leslie J. Kilgore sold 358 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $765.00, for a total transaction of $273,870.00. Following the completion of the sale, the director now owns 35,262 shares of the company’s stock, valued at approximately $26,975,430. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 229,711 shares of company stock worth $153,905,830. 1.76% of the stock is owned by insiders.

Netflix Stock Up 0.0 %

NASDAQ NFLX opened at $754.68 on Friday. Netflix, Inc. has a 12 month low of $395.62 and a 12 month high of $773.00. The company has a market capitalization of $322.60 billion, a P/E ratio of 42.71, a PEG ratio of 1.48 and a beta of 1.26. The company’s 50 day simple moving average is $706.67 and its 200 day simple moving average is $659.59. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 0.95.

Netflix Company Profile

(Free Report)

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.

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