Divergent Planning LLC Decreases Stake in Netflix, Inc. $NFLX

Divergent Planning LLC trimmed its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 6.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 224 shares of the Internet television network’s stock after selling 16 shares during the period. Divergent Planning LLC’s holdings in Netflix were worth $290,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its position in shares of Netflix by 5.0% during the 4th quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network’s stock worth $4,804,000 after purchasing an additional 257 shares during the last quarter. Revolve Wealth Partners LLC increased its holdings in Netflix by 16.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network’s stock valued at $912,000 after buying an additional 144 shares during the last quarter. GAMMA Investing LLC raised its stake in Netflix by 17.6% in the first quarter. GAMMA Investing LLC now owns 9,475 shares of the Internet television network’s stock valued at $8,836,000 after buying an additional 1,415 shares in the last quarter. Crews Bank & Trust lifted its holdings in Netflix by 15.0% during the 1st quarter. Crews Bank & Trust now owns 153 shares of the Internet television network’s stock worth $143,000 after buying an additional 20 shares during the last quarter. Finally, Flagship Harbor Advisors LLC lifted its holdings in Netflix by 1.1% during the 1st quarter. Flagship Harbor Advisors LLC now owns 10,476 shares of the Internet television network’s stock worth $9,769,000 after buying an additional 110 shares during the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Trading Up 3.3%

Shares of Netflix stock opened at $1,238.56 on Tuesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.34 and a current ratio of 1.34. The company has a market capitalization of $526.30 billion, a P/E ratio of 52.77, a PEG ratio of 2.02 and a beta of 1.59. Netflix, Inc. has a 1 year low of $744.26 and a 1 year high of $1,341.15. The company’s fifty day moving average is $1,213.87 and its two-hundred day moving average is $1,182.08.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on NFLX shares. Piper Sandler increased their price objective on Netflix from $1,400.00 to $1,500.00 and gave the company an “overweight” rating in a report on Friday, July 18th. Itau BBA Securities initiated coverage on Netflix in a report on Tuesday, October 7th. They issued an “outperform” rating and a $1,514.00 price target for the company. Citigroup reissued a “neutral” rating and set a $1,295.00 price objective (up previously from $1,280.00) on shares of Netflix in a report on Friday, October 3rd. UBS Group restated a “buy” rating and set a $1,495.00 price objective on shares of Netflix in a research report on Thursday, October 16th. Finally, Jefferies Financial Group restated a “buy” rating on shares of Netflix in a report on Tuesday, October 14th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Netflix presently has an average rating of “Moderate Buy” and a consensus target price of $1,339.81.

Insider Transactions at Netflix

In other Netflix news, Director Reed Hastings sold 42,176 shares of Netflix stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $1,171.92, for a total value of $49,426,897.92. Following the transaction, the director directly owned 394 shares in the company, valued at approximately $461,736.48. This trade represents a 99.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Gregory K. Peters sold 2,026 shares of the company’s stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $1,157.44, for a total value of $2,344,973.44. Following the sale, the chief executive officer owned 12,781 shares of the company’s stock, valued at $14,793,240.64. This trade represents a 13.68% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 104,100 shares of company stock worth $122,710,980 over the last three months. 1.37% of the stock is currently owned by company insiders.

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.