Gryphon Financial Partners LLC Lowers Position in Netflix, Inc. (NASDAQ:NFLX)

Gryphon Financial Partners LLC cut its stake in Netflix, Inc. (NASDAQ:NFLX) by 12.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,841 shares of the Internet television network’s stock after selling 398 shares during the period. Gryphon Financial Partners LLC’s holdings in Netflix were worth $1,917,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Daiwa Securities Group Inc. lifted its holdings in shares of Netflix by 18.9% during the second quarter. Daiwa Securities Group Inc. now owns 313,855 shares of the Internet television network’s stock valued at $211,814,000 after purchasing an additional 49,793 shares during the last quarter. Sachetta LLC lifted its holdings in shares of Netflix by 27.4% during the second quarter. Sachetta LLC now owns 121 shares of the Internet television network’s stock valued at $75,000 after purchasing an additional 26 shares during the last quarter. Dorsey & Whitney Trust CO LLC lifted its holdings in shares of Netflix by 3.9% during the second quarter. Dorsey & Whitney Trust CO LLC now owns 3,108 shares of the Internet television network’s stock valued at $2,098,000 after purchasing an additional 118 shares during the last quarter. Global X Japan Co. Ltd. lifted its holdings in shares of Netflix by 15.7% during the second quarter. Global X Japan Co. Ltd. now owns 8,470 shares of the Internet television network’s stock valued at $5,716,000 after purchasing an additional 1,147 shares during the last quarter. Finally, LGT Fund Management Co Ltd. lifted its holdings in shares of Netflix by 39.3% during the second quarter. LGT Fund Management Co Ltd. now owns 8,034 shares of the Internet television network’s stock valued at $5,422,000 after purchasing an additional 2,268 shares during the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Netflix

In other Netflix news, Director Leslie J. Kilgore sold 1,372 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $704.81, for a total value of $966,999.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Netflix news, Director Leslie J. Kilgore sold 1,372 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $704.81, for a total value of $966,999.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jay C. Hoag sold 37,675 shares of the business’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $629.73, for a total transaction of $23,725,077.75. The disclosure for this sale can be found here. In the last quarter, insiders have sold 157,831 shares of company stock worth $102,721,884. 1.76% of the stock is owned by corporate insiders.

Netflix Stock Up 0.2 %

NFLX opened at $676.80 on Tuesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95. Netflix, Inc. has a fifty-two week low of $344.73 and a fifty-two week high of $711.33. The firm’s fifty day moving average is $659.93 and its 200 day moving average is $635.27. The stock has a market cap of $290.46 billion, a price-to-earnings ratio of 46.87, a price-to-earnings-growth ratio of 1.36 and a beta of 1.26.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, beating analysts’ consensus estimates of $4.74 by $0.14. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The company had revenue of $9.56 billion for the quarter, compared to analysts’ expectations of $9.53 billion. During the same quarter in the previous year, the company earned $3.29 EPS. Netflix’s revenue for the quarter was up 16.8% on a year-over-year basis. On average, sell-side analysts forecast that Netflix, Inc. will post 19.08 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on NFLX shares. Bank of America lifted their target price on shares of Netflix from $700.00 to $740.00 and gave the company a “buy” rating in a report on Monday, July 15th. The Goldman Sachs Group raised their price target on shares of Netflix from $650.00 to $659.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. Benchmark raised their price target on shares of Netflix from $450.00 to $545.00 and gave the company a “sell” rating in a research report on Tuesday, July 16th. Morgan Stanley raised their price target on shares of Netflix from $700.00 to $780.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Finally, TD Cowen raised their price target on shares of Netflix from $725.00 to $775.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $685.29.

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.