West Tower Group LLC Sells 300 Shares of Netflix, Inc. $NFLX

West Tower Group LLC trimmed its stake in Netflix, Inc. (NASDAQ:NFLX) by 60.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 200 shares of the Internet television network’s stock after selling 300 shares during the period. West Tower Group LLC’s holdings in Netflix were worth $268,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Northeast Investment Management lifted its stake in shares of Netflix by 25.9% in the 2nd quarter. Northeast Investment Management now owns 16,780 shares of the Internet television network’s stock valued at $22,471,000 after purchasing an additional 3,449 shares during the last quarter. Cidel Asset Management Inc. lifted its stake in shares of Netflix by 25.3% in the 2nd quarter. Cidel Asset Management Inc. now owns 673 shares of the Internet television network’s stock valued at $901,000 after purchasing an additional 136 shares during the last quarter. Forvis Mazars Wealth Advisors LLC lifted its stake in shares of Netflix by 76.7% in the 2nd quarter. Forvis Mazars Wealth Advisors LLC now owns 2,583 shares of the Internet television network’s stock valued at $3,459,000 after purchasing an additional 1,121 shares during the last quarter. Crux Wealth Advisors bought a new stake in shares of Netflix in the 2nd quarter valued at approximately $238,000. Finally, Chicago Partners Investment Group LLC lifted its stake in shares of Netflix by 6.4% in the 2nd quarter. Chicago Partners Investment Group LLC now owns 2,875 shares of the Internet television network’s stock valued at $3,850,000 after purchasing an additional 172 shares during the last quarter. 80.93% of the stock is owned by institutional investors.

Insider Buying and Selling at Netflix

In other Netflix news, CFO Spencer Adam Neumann sold 2,600 shares of Netflix stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $1,172.51, for a total transaction of $3,048,526.00. Following the completion of the sale, the chief financial officer directly owned 3,691 shares of the company’s stock, valued at $4,327,734.41. The trade was a 41.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Cletus R. Willems sold 238 shares of Netflix stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $1,153.52, for a total value of $274,537.76. The disclosure for this sale can be found here. Insiders sold a total of 104,100 shares of company stock worth $122,710,980 over the last quarter. Insiders own 1.37% of the company’s stock.

Analyst Upgrades and Downgrades

NFLX has been the subject of several analyst reports. Wedbush reaffirmed an “outperform” rating on shares of Netflix in a research note on Wednesday. JPMorgan Chase & Co. raised their price target on Netflix from $1,230.00 to $1,300.00 and gave the stock a “neutral” rating in a research note on Friday, July 18th. Phillip Securities lowered Netflix from a “hold” rating to a “strong sell” rating in a research note on Monday, July 21st. Pivotal Research reissued a “buy” rating on shares of Netflix in a research note on Thursday, July 10th. Finally, Sanford C. Bernstein reissued a “buy” rating on shares of Netflix in a research note on Friday. Two equities research 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, Netflix presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,339.81.

Netflix Trading Up 1.3%

Shares of NASDAQ NFLX opened at $1,199.36 on Monday. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.58. The business has a fifty day simple moving average of $1,213.47 and a two-hundred day simple moving average of $1,179.41. The firm has a market cap of $509.64 billion, a PE ratio of 51.10, a price-to-earnings-growth ratio of 2.02 and a beta of 1.59. Netflix, Inc. has a twelve month low of $736.23 and a twelve month high of $1,341.15.

Netflix (NASDAQ:NFLX) last issued its earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share for the quarter, beating analysts’ consensus estimates of $7.07 by $0.12. The business had revenue of $11.08 billion during the quarter, compared to analyst estimates of $11.04 billion. Netflix had a return on equity of 42.50% and a net margin of 24.58%.Netflix’s revenue was up 15.9% on a year-over-year basis. During the same period in the previous year, the company posted $4.88 EPS. Analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

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.