Larson Financial Group LLC Cuts Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Larson Financial Group LLC trimmed its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 18.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 300 shares of the Internet television network’s stock after selling 69 shares during the quarter. Larson Financial Group LLC’s holdings in Netflix were worth $80,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Dixon Hubard Feinour & Brown Inc. VA boosted its stake in Netflix by 0.4% during the 1st quarter. Dixon Hubard Feinour & Brown Inc. VA now owns 7,290 shares of the Internet television network’s stock worth $2,599,000 after purchasing an additional 30 shares during the last quarter. Abbrea Capital LLC boosted its stake in Netflix by 2.4% during the 2nd quarter. Abbrea Capital LLC now owns 1,382 shares of the Internet television network’s stock worth $508,000 after purchasing an additional 32 shares during the last quarter. Lindbrook Capital LLC boosted its stake in Netflix by 2.8% during the 2nd quarter. Lindbrook Capital LLC now owns 1,259 shares of the Internet television network’s stock worth $462,000 after purchasing an additional 34 shares during the last quarter. Cornerstone Advisors Inc. boosted its stake in Netflix by 1.8% during the 2nd quarter. Cornerstone Advisors Inc. now owns 1,968 shares of the Internet television network’s stock worth $723,000 after purchasing an additional 35 shares during the last quarter. Finally, Baxter Bros Inc. boosted its stake in Netflix by 3.0% during the 2nd quarter. Baxter Bros Inc. now owns 1,226 shares of the Internet television network’s stock worth $450,000 after purchasing an additional 36 shares during the last quarter. 78.96% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts have issued reports on the stock. Nomura lowered their target price on shares of Netflix from $320.00 to $310.00 and set a “neutral” rating on the stock in a research note on Thursday, July 18th. Piper Jaffray Companies set a $440.00 target price on shares of Netflix and gave the stock a “buy” rating in a research note on Tuesday. Aegis lowered their target price on shares of Netflix from $310.00 to $275.00 and set a “hold” rating on the stock in a research note on Tuesday. Goldman Sachs Group reaffirmed a “buy” rating and set a $360.00 target price (down previously from $420.00) on shares of Netflix in a research note on Thursday. Finally, Wedbush lifted their target price on shares of Netflix from $183.00 to $188.00 and gave the stock an “underperform” rating in a research note on Thursday, July 18th. Five investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $371.13.

In related news, CEO Reed Hastings sold 55,342 shares of the business’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $309.54, for a total value of $17,130,562.68. Following the sale, the chief executive officer now directly owns 55,342 shares in the company, valued at approximately $17,130,562.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Bradford L. Smith acquired 6,499 shares of Netflix stock in a transaction that occurred on Thursday, August 8th. The stock was bought at an average price of $308.49 per share, for a total transaction of $2,004,876.51. Following the completion of the acquisition, the director now owns 799 shares in the company, valued at approximately $246,483.51. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 150,983 shares of company stock worth $44,378,164. 4.29% of the stock is owned by insiders.

Shares of NFLX opened at $282.93 on Friday. The firm has a market cap of $117.13 billion, a P/E ratio of 104.91, a price-to-earnings-growth ratio of 2.74 and a beta of 1.20. Netflix, Inc. has a 12-month low of $231.23 and a 12-month high of $385.99. The company’s 50-day moving average price is $281.77 and its 200 day moving average price is $333.91. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 2.06.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Wednesday, July 17th. The Internet television network reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.04. The firm had revenue of $4.92 billion for the quarter, compared to analyst estimates of $4.93 billion. Netflix had a net margin of 6.53% and a return on equity of 20.88%. Netflix’s revenue was up 26.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.85 EPS. Equities research analysts forecast that Netflix, Inc. will post 3.25 earnings per share for the current year.

Netflix Profile

Netflix, Inc provides Internet entertainment services. The company operates in three segments: Domestic streaming, International streaming, and Domestic DVD. It offers TV series, documentaries, and feature films across various genres and languages. The company provides members the ability to receive streaming content through a host of Internet-connected screens, including TVs, digital video players, television set-top boxes, and mobile devices.

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Institutional Ownership by Quarter for Netflix (NASDAQ:NFLX)

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