Checchi Capital Advisers LLC Sells 123 Shares of Netflix, Inc. (NASDAQ:NFLX)

Checchi Capital Advisers LLC reduced its stake in Netflix, Inc. (NASDAQ:NFLX) by 3.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,840 shares of the Internet television network’s stock after selling 123 shares during the period. Checchi Capital Advisers LLC’s holdings in Netflix were worth $1,028,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Bath Savings Trust Co bought a new stake in shares of Netflix in the 2nd quarter valued at about $204,000. Fulton Bank N.A. increased its stake in Netflix by 16.8% during the 2nd quarter. Fulton Bank N.A. now owns 6,243 shares of the Internet television network’s stock worth $2,293,000 after purchasing an additional 899 shares in the last quarter. Douglas Lane & Associates LLC increased its stake in Netflix by 20.2% during the 2nd quarter. Douglas Lane & Associates LLC now owns 998 shares of the Internet television network’s stock worth $367,000 after purchasing an additional 168 shares in the last quarter. Crossmark Global Holdings Inc. increased its stake in Netflix by 1.2% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 22,422 shares of the Internet television network’s stock worth $8,236,000 after purchasing an additional 256 shares in the last quarter. Finally, Supplemental Annuity Collective Trust of NJ increased its stake in Netflix by 15.0% during the 2nd quarter. Supplemental Annuity Collective Trust of NJ now owns 2,300 shares of the Internet television network’s stock worth $845,000 after purchasing an additional 300 shares in the last quarter. Institutional investors and hedge funds own 79.22% of the company’s stock.

In related news, CEO Reed Hastings sold 52,269 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $300.10, for a total value of $15,685,926.90. Following the sale, the chief executive officer now directly owns 52,269 shares of the company’s stock, valued at $15,685,926.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 135,702 shares of company stock worth $38,290,015 over the last ninety days. 3.72% of the stock is currently owned by insiders.

A number of analysts recently issued reports on the company. BMO Capital Markets lowered their target price on Netflix from $470.00 to $440.00 and set an “outperform” rating for the company in a research note on Thursday, July 18th. Rosenblatt Securities lowered their target price on Netflix from $330.00 to $265.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Morgan Stanley lowered their target price on Netflix from $450.00 to $400.00 and set an “overweight” rating for the company in a research note on Monday, October 14th. Zacks Investment Research cut Netflix from a “hold” rating to a “sell” rating and set a $295.00 target price for the company. in a research note on Friday, October 11th. Finally, Monness Crespi & Hardt lowered their target price on Netflix from $440.00 to $340.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Four analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $369.54.

NFLX stock traded down $1.25 during trading hours on Wednesday, hitting $290.76. 105,601 shares of the stock were exchanged, compared to its average volume of 8,153,153. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 1.81. Netflix, Inc. has a 12 month low of $231.23 and a 12 month high of $385.99. The firm has a market capitalization of $127.66 billion, a P/E ratio of 108.49, a P/E/G ratio of 2.92 and a beta of 1.25. The company has a 50-day simple moving average of $277.73 and a two-hundred day simple moving average of $321.79.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Wednesday, October 16th. The Internet television network reported $1.47 EPS for the quarter, topping the Zacks’ consensus estimate of $1.05 by $0.42. Netflix had a return on equity of 23.65% and a net margin of 7.49%. The company had revenue of $5.25 billion for the quarter, compared to analysts’ expectations of $5.25 billion. During the same quarter last year, the business earned $0.89 earnings per share. Netflix’s revenue was up 31.2% on a year-over-year basis. On average, equities research analysts predict that Netflix, Inc. will post 3.33 earnings per share for the current year.

Netflix Company 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.

Featured Article: What is the yield curve?

Want to see what other hedge funds are holding NFLX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Netflix, Inc. (NASDAQ:NFLX).

Institutional Ownership by Quarter for Netflix (NASDAQ:NFLX)

Receive News & Ratings for Netflix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Netflix and related companies with MarketBeat.com's FREE daily email newsletter.