Keudell Morrison Wealth Management Reduces Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Keudell Morrison Wealth Management trimmed its position in Netflix, Inc. (NASDAQ:NFLX) by 4.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,236 shares of the Internet television network’s stock after selling 58 shares during the quarter. Keudell Morrison Wealth Management’s holdings in Netflix were worth $877,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. DigitalBridge Group Inc. grew its stake in Netflix by 35.5% during the 2nd quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock worth $24,338,000 after buying an additional 9,451 shares during the last quarter. M&G Plc acquired a new stake in shares of Netflix in the first quarter valued at $9,682,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Netflix by 58.2% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 82,931 shares of the Internet television network’s stock valued at $55,968,000 after buying an additional 30,511 shares during the period. Forsta AP Fonden lifted its holdings in shares of Netflix by 7.7% during the third quarter. Forsta AP Fonden now owns 121,400 shares of the Internet television network’s stock valued at $86,105,000 after purchasing an additional 8,700 shares during the last quarter. Finally, Koshinski Asset Management Inc. purchased a new stake in shares of Netflix during the first quarter valued at $1,304,000. 80.93% of the stock is currently owned by institutional investors.

Netflix Trading Up 0.9 %

Shares of NASDAQ NFLX traded up $6.68 during midday trading on Thursday, hitting $786.89. The stock had a trading volume of 457,184 shares, compared to its average volume of 3,671,000. The company’s 50-day simple moving average is $717.59 and its 200 day simple moving average is $667.98. The firm has a market cap of $336.36 billion, a P/E ratio of 44.15, a price-to-earnings-growth ratio of 1.46 and a beta of 1.25. Netflix, Inc. has a fifty-two week low of $433.68 and a fifty-two week high of $787.28. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13.

Insider Activity

In other news, insider David A. Hyman sold 267 shares of Netflix stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total value of $204,433.89. Following the completion of the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $24,202,828.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider David A. Hyman sold 267 shares of Netflix stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total value of $204,433.89. Following the completion of the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $24,202,828.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jay C. Hoag sold 37,675 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $629.73, for a total value of $23,725,077.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 242,112 shares of company stock valued at $169,954,456. Company insiders own 1.76% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on NFLX. The Goldman Sachs Group set a $750.00 target price on Netflix in a report on Friday, October 18th. Benchmark reaffirmed a “sell” rating and issued a $545.00 target price on shares of Netflix in a research report on Tuesday, October 15th. UBS Group upped their price target on Netflix from $750.00 to $825.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Bank of America upped their price target on Netflix from $740.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Finally, Oppenheimer increased their target price on Netflix from $775.00 to $825.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $748.15.

Netflix Company 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.