Altus Wealth Group LLC Acquires 20 Shares of Netflix, Inc. (NASDAQ:NFLX)

Altus Wealth Group LLC increased its stake in Netflix, Inc. (NASDAQ:NFLX) by 1.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,179 shares of the Internet television network’s stock after acquiring an additional 20 shares during the period. Altus Wealth Group LLC’s holdings in Netflix were worth $796,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. M&G Plc bought a new position in shares of Netflix in the 1st quarter worth approximately $9,682,000. BSN CAPITAL PARTNERS Ltd lifted its holdings in shares of Netflix by 24.4% during the 1st quarter. BSN CAPITAL PARTNERS Ltd now owns 250,000 shares of the Internet television network’s stock valued at $155,185,000 after buying an additional 49,000 shares during the period. Scarborough Advisors LLC bought a new position in Netflix in the fourth quarter valued at about $9,513,000. Summitry LLC boosted its holdings in shares of Netflix by 12.2% in the fourth quarter. Summitry LLC now owns 69,543 shares of the Internet television network’s stock worth $33,859,000 after buying an additional 7,579 shares during the last quarter. Finally, Bedel Financial Consulting Inc. purchased a new position in shares of Netflix during the 4th quarter worth $224,000. Institutional investors own 80.93% of the company’s stock.

Insider Activity

In related news, Chairman Reed Hastings sold 25,074 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $680.92, for a total transaction of $17,073,388.08. Following the transaction, the chairman now directly owns 85 shares of the company’s stock, valued at approximately $57,878.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Netflix news, CFO Spencer Adam Neumann sold 433 shares of Netflix stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $626.19, for a total transaction of $271,140.27. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Reed Hastings sold 25,074 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $680.92, for a total value of $17,073,388.08. Following the transaction, the chairman now owns 85 shares of the company’s stock, valued at $57,878.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 157,831 shares of company stock worth $102,721,884. 1.76% of the stock is currently owned by corporate insiders.

Netflix Price Performance

NFLX opened at $683.62 on Friday. Netflix, Inc. has a 52-week low of $344.73 and a 52-week high of $711.33. The company has a 50 day moving average of $660.07 and a two-hundred day moving average of $633.26. The company has a market cap of $294.64 billion, a P/E ratio of 47.44, a P/E/G ratio of 1.44 and a beta of 1.27. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.55.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, topping 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 firm had revenue of $9.56 billion during the quarter, compared to analysts’ expectations of $9.53 billion. During the same period in the prior year, the company earned $3.29 EPS. The firm’s revenue was up 16.8% on a year-over-year basis. On average, analysts expect that Netflix, Inc. will post 19.08 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Sanford C. Bernstein increased their target price on Netflix from $600.00 to $625.00 and gave the stock a “market perform” rating in a research report on Friday, July 19th. KeyCorp boosted their target price on Netflix from $707.00 to $735.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Redburn Atlantic raised their price objective on Netflix from $740.00 to $760.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Rosenblatt Securities boosted their price objective on shares of Netflix from $554.00 to $635.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th. Finally, Guggenheim boosted their target price on shares of Netflix from $700.00 to $735.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price 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.