Net Worth Advisory Group Takes $777,000 Position in Netflix, Inc. (NASDAQ:NFLX)

Net Worth Advisory Group acquired a new position in Netflix, Inc. (NASDAQ:NFLX) in the third quarter, HoldingsChannel reports. The fund acquired 1,095 shares of the Internet television network’s stock, valued at approximately $777,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NFLX. GQG Partners LLC purchased a new stake in shares of Netflix during the 1st quarter worth $1,450,476,000. Jennison Associates LLC grew its stake in Netflix by 17.0% in the first quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock valued at $3,875,655,000 after purchasing an additional 929,193 shares during the last quarter. Global Assets Advisory LLC bought a new position in Netflix in the first quarter worth about $436,514,000. Jericho Capital Asset Management L.P. purchased a new stake in shares of Netflix during the first quarter valued at about $372,293,000. Finally, Swedbank AB bought a new stake in shares of Netflix in the 1st quarter valued at about $216,538,000. 80.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on NFLX shares. Rosenblatt Securities boosted their price objective on shares of Netflix from $635.00 to $680.00 and gave the stock a “neutral” rating in a research note on Friday. Bank of America upped their price target on Netflix from $740.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday. Argus raised their price objective on Netflix from $660.00 to $767.00 and gave the stock a “buy” rating in a research report on Tuesday, July 2nd. Barclays reaffirmed an “underweight” rating and set a $550.00 target price on shares of Netflix in a research report on Friday. Finally, Sanford C. Bernstein increased their price target on Netflix from $625.00 to $780.00 and gave the company a “market perform” rating in a research note on Friday. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-six have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $739.38.

Insiders Place Their Bets

In other news, Director Leslie J. Kilgore sold 383 shares of the company’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $730.00, for a total value of $279,590.00. Following the completion of the sale, the director now directly owns 35,262 shares in the company, valued at $25,741,260. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Netflix news, insider David A. Hyman sold 20,656 shares of Netflix stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at $19,128,159.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Leslie J. Kilgore sold 383 shares of the stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $730.00, for a total transaction of $279,590.00. Following the completion of the sale, the director now directly owns 35,262 shares of the company’s stock, valued at approximately $25,741,260. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 225,167 shares of company stock valued at $150,492,460 in the last ninety days. 1.76% of the stock is currently owned by corporate insiders.

Netflix Trading Up 11.1 %

Shares of NFLX stock opened at $763.89 on Friday. Netflix, Inc. has a fifty-two week low of $392.26 and a fifty-two week high of $766.28. The firm has a market capitalization of $329.24 billion, a P/E ratio of 53.01, a PEG ratio of 1.49 and a beta of 1.26. The stock’s fifty day moving average is $696.38 and its two-hundred day moving average is $654.66. 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 (NASDAQ:NFLX) last posted 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. The firm had revenue of $9.56 billion for the quarter, compared to analyst estimates of $9.53 billion. Netflix had a net margin of 19.54% and a return on equity of 32.93%. Netflix’s quarterly revenue was up 16.8% on a year-over-year basis. During the same period in the previous year, the business posted $3.29 earnings per share. Research analysts expect that Netflix, Inc. will post 19.08 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.