Portside Wealth Group LLC Has $7.56 Million Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Portside Wealth Group LLC decreased its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 1.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 10,652 shares of the Internet television network’s stock after selling 205 shares during the period. Netflix makes up approximately 1.3% of Portside Wealth Group LLC’s portfolio, making the stock its 13th largest position. Portside Wealth Group LLC’s holdings in Netflix were worth $7,555,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of NFLX. Sciencast Management LP acquired a new position in shares of Netflix during the 1st quarter worth $524,000. Empowered Funds LLC grew its stake in Netflix by 13.9% in the 1st quarter. Empowered Funds LLC now owns 7,750 shares of the Internet television network’s stock valued at $4,707,000 after buying an additional 945 shares during the last quarter. Wealthspire Advisors LLC grew its stake in Netflix by 7.8% in the 1st quarter. Wealthspire Advisors LLC now owns 5,896 shares of the Internet television network’s stock valued at $3,581,000 after buying an additional 427 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in Netflix by 21.3% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 4,507 shares of the Internet television network’s stock valued at $2,737,000 after buying an additional 790 shares during the last quarter. Finally, Sustainable Insight Capital Management LLC acquired a new position in Netflix in the 1st quarter valued at $528,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Trading Up 2.1 %

Shares of NFLX stock opened at $796.54 on Friday. Netflix, Inc. has a 12-month low of $433.68 and a 12-month high of $798.22. The company has a market capitalization of $340.49 billion, a P/E ratio of 45.08, a P/E/G ratio of 1.46 and a beta of 1.25. The firm has a 50-day moving average price of $717.59 and a 200 day moving average price of $667.98. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on NFLX. Sanford C. Bernstein raised their target price on shares of Netflix from $625.00 to $780.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. Citigroup raised their target price on shares of Netflix from $660.00 to $675.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. The Goldman Sachs Group set a $750.00 target price on shares of Netflix in a research note on Friday, October 18th. Macquarie reiterated an “outperform” rating and issued a $795.00 target price on shares of Netflix in a research note on Friday, October 18th. Finally, China Renaissance initiated coverage on shares of Netflix in a research report on Thursday, September 5th. They issued a “hold” rating and a $680.00 price target on the stock. 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 stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $748.15.

Insider Buying and Selling at Netflix

In other Netflix news, Chairman Reed Hastings sold 45,290 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $706.16, for a total value of $31,981,986.40. Following the completion of the sale, the chairman now owns 85 shares in the company, valued at approximately $60,023.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Gregory K. Peters sold 4,644 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $700.00, for a total transaction of $3,250,800.00. Following the completion of the sale, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at $9,163,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Reed Hastings sold 45,290 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $706.16, for a total transaction of $31,981,986.40. Following the sale, the chairman now directly owns 85 shares of the company’s stock, valued at approximately $60,023.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 242,112 shares of company stock worth $169,954,456. 1.76% of the stock is currently owned by corporate insiders.

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.