Netflix, Inc. (NASDAQ:NFLX) Shares Purchased by Smith Salley Wealth Management

Smith Salley Wealth Management boosted its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 3.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,491 shares of the Internet television network’s stock after acquiring an additional 51 shares during the period. Smith Salley Wealth Management’s holdings in Netflix were worth $906,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Norges Bank acquired a new position in Netflix in the fourth quarter valued at $2,558,598,000. Wellington Management Group LLP boosted its position in shares of Netflix by 540.9% in the 4th quarter. Wellington Management Group LLP now owns 3,878,785 shares of the Internet television network’s stock valued at $1,888,503,000 after purchasing an additional 3,273,592 shares during the period. International Assets Investment Management LLC grew its stake in Netflix by 15,039.1% during the 4th quarter. International Assets Investment Management LLC now owns 2,075,569 shares of the Internet television network’s stock worth $1,010,553,000 after buying an additional 2,061,859 shares during the last quarter. Jennison Associates LLC increased its position in Netflix by 40.6% during the fourth quarter. Jennison Associates LLC now owns 5,452,271 shares of the Internet television network’s stock worth $2,654,602,000 after buying an additional 1,573,978 shares during the period. Finally, Global Assets Advisory LLC acquired a new stake in shares of Netflix in the first quarter valued at approximately $436,514,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Netflix

In related news, Chairman Reed Hastings sold 22,526 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $670.49, for a total transaction of $15,103,457.74. Following the sale, the chairman now owns 57 shares of the company’s stock, valued at $38,217.93. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Netflix news, CEO Gregory K. Peters sold 4,783 shares of the business’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $675.00, for a total value of $3,228,525.00. Following the completion of the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at approximately $8,835,750. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Reed Hastings sold 22,526 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $670.49, for a total value of $15,103,457.74. Following the sale, the chairman now owns 57 shares in the company, valued at approximately $38,217.93. The disclosure for this sale can be found here. Insiders sold a total of 71,385 shares of company stock valued at $44,469,351 over the last three months. 1.76% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on NFLX shares. Deutsche Bank Aktiengesellschaft increased their price target on shares of Netflix from $525.00 to $550.00 and gave the stock a “hold” rating in a research note on Monday, April 15th. Wells Fargo & Company raised their price target on Netflix from $650.00 to $726.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Sanford C. Bernstein upped their price objective on Netflix from $490.00 to $600.00 and gave the company a “market perform” rating in a research note on Friday, April 19th. Rosenblatt Securities upped their price objective on Netflix from $540.00 to $554.00 and gave the company a “neutral” rating in a research note on Friday, May 17th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $655.00 target price on shares of Netflix in a research note on Wednesday, May 15th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $638.77.

Netflix Price Performance

NFLX remained flat at $685.74 during midday trading on Tuesday. 2,596,425 shares of the company’s stock were exchanged, compared to its average volume of 3,909,421. Netflix, Inc. has a one year low of $344.73 and a one year high of $697.49. The firm has a market cap of $295.55 billion, a PE ratio of 48.08, a PEG ratio of 1.49 and a beta of 1.27. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.62. The company’s fifty day moving average price is $643.37 and its 200-day moving average price is $593.46.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 earnings per share for the quarter, topping analysts’ consensus estimates of $4.51 by $0.77. The business had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $9.28 billion. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The company’s revenue was up 14.8% on a year-over-year basis. During the same period last year, the company posted $2.88 EPS. As a group, analysts expect that Netflix, Inc. will post 18.31 EPS for the current fiscal year.

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.