B. Riley Wealth Advisors Inc. Trims Stake in Netflix, Inc. (NASDAQ:NFLX)

B. Riley Wealth Advisors Inc. trimmed its stake in Netflix, Inc. (NASDAQ:NFLX) by 13.5% in the third quarter, HoldingsChannel.com reports. The fund owned 12,195 shares of the Internet television network’s stock after selling 1,903 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Netflix were worth $8,640,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. RPg Family Wealth Advisory LLC acquired a new stake in Netflix in the 3rd quarter worth about $25,000. Denver PWM LLC acquired a new stake in shares of Netflix in the second quarter worth approximately $25,000. Proffitt & Goodson Inc. grew its holdings in Netflix by 380.0% in the second quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock valued at $32,000 after purchasing an additional 38 shares during the period. E Fund Management Hong Kong Co. Ltd. increased its position in Netflix by 700.0% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after purchasing an additional 42 shares during the last quarter. Finally, MidAtlantic Capital Management Inc. purchased a new position in Netflix during the third quarter worth approximately $37,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. StockNews.com lowered Netflix from a “buy” rating to a “hold” rating in a research note on Friday. Guggenheim lifted their price target on shares of Netflix from $810.00 to $825.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. Sanford C. Bernstein upped their price target on shares of Netflix from $625.00 to $780.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. Morgan Stanley raised their target price on Netflix from $820.00 to $830.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Finally, Oppenheimer raised their price target on shares of Netflix from $775.00 to $825.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat.com, Netflix presently has a consensus rating of “Moderate Buy” and a consensus target price of $787.85.

Insider Buying and Selling

In related news, Director Leslie J. Kilgore sold 358 shares of the stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $765.00, for a total transaction of $273,870.00. Following the completion of the sale, the director now owns 35,262 shares in the company, valued at $26,975,430. This trade represents a 1.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider David A. Hyman sold 267 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total transaction of $204,433.89. Following the completion of the transaction, the insider now owns 31,610 shares in the company, valued at approximately $24,202,828.70. This trade represents a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 165,405 shares of company stock valued at $129,623,487. Insiders own 1.76% of the company’s stock.

Netflix Stock Performance

Shares of NFLX stock opened at $918.87 on Friday. The firm has a market cap of $392.78 billion, a P/E ratio of 52.00, a PEG ratio of 1.80 and a beta of 1.27. The stock’s 50-day moving average is $814.02 and its two-hundred day moving average is $719.34. Netflix, Inc. has a fifty-two week low of $461.86 and a fifty-two week high of $941.75. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data 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. The firm had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. Analysts predict that Netflix, Inc. will post 19.78 earnings per share for the current fiscal year.

Netflix 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.