Cypress Capital Group Reduces Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Cypress Capital Group reduced its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 1.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 2,422 shares of the Internet television network’s stock after selling 26 shares during the period. Cypress Capital Group’s holdings in Netflix were worth $1,718,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in NFLX. Denver PWM LLC purchased a new stake in Netflix in the 2nd quarter worth approximately $25,000. Proffitt & Goodson Inc. raised its holdings in shares of Netflix by 380.0% during the 2nd quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock worth $32,000 after acquiring an additional 38 shares during the period. E Fund Management Hong Kong Co. Ltd. grew its stake in shares of Netflix by 700.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock valued at $34,000 after buying an additional 42 shares during the period. AlphaMark Advisors LLC grew its holdings in shares of Netflix by 642.9% during the 2nd quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock worth $35,000 after purchasing an additional 45 shares during the period. Finally, MidAtlantic Capital Management Inc. purchased a new position in shares of Netflix during the 3rd quarter worth approximately $37,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Anne M. Sweeney sold 589 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $880.00, for a total transaction of $518,320.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Timothy M. Haley sold 647 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $800.19, for a total transaction of $517,722.93. The disclosure for this sale can be found here. Insiders sold a total of 185,866 shares of company stock valued at $133,393,921 in the last ninety days. 1.76% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms recently commented on NFLX. China Renaissance initiated coverage on Netflix in a research note on Thursday, September 5th. They set a “hold” rating and a $680.00 target price for the company. Evercore ISI boosted their target price on shares of Netflix from $750.00 to $775.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. Bank of America lifted their price target on Netflix from $740.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Wolfe Research reiterated an “outperform” rating on shares of Netflix in a report on Friday, October 18th. Finally, Guggenheim boosted their target price on Netflix from $810.00 to $825.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $758.76.

Netflix Trading Up 1.4 %

Shares of Netflix stock opened at $883.85 on Thursday. The company’s fifty day simple moving average is $747.20 and its 200-day simple moving average is $686.80. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. The company has a market cap of $377.81 billion, a price-to-earnings ratio of 50.02, a PEG ratio of 1.68 and a beta of 1.25. Netflix, Inc. has a 1 year low of $445.73 and a 1 year high of $890.60.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.09 by $0.31. Netflix had a net margin of 20.70% and a return on equity of 35.86%. The business had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.77 billion. As a group, sell-side analysts expect that Netflix, Inc. will post 19.78 EPS for the current year.

About Netflix

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.