Smith Group Asset Management LLC Has $24.12 Million Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Smith Group Asset Management LLC grew its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 2.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 34,005 shares of the Internet television network’s stock after purchasing an additional 713 shares during the quarter. Netflix comprises about 2.0% of Smith Group Asset Management LLC’s portfolio, making the stock its 21st biggest holding. Smith Group Asset Management LLC’s holdings in Netflix were worth $24,119,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Denver PWM LLC acquired a new position in shares of Netflix during the 2nd quarter worth approximately $25,000. Proffitt & Goodson Inc. increased its holdings in shares of Netflix by 380.0% during the 2nd quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock worth $32,000 after acquiring an additional 38 shares during the last quarter. AlphaMark Advisors LLC increased its holdings in shares of Netflix by 642.9% during the 2nd quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock worth $35,000 after acquiring an additional 45 shares during the last quarter. Triad Wealth Partners LLC acquired a new position in shares of Netflix during the 2nd quarter worth approximately $38,000. Finally, Summit Securities Group LLC acquired a new position in shares of Netflix during the 2nd quarter worth approximately $38,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on NFLX shares. Rosenblatt Securities boosted their target price on Netflix from $635.00 to $680.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Citigroup boosted their target price on Netflix from $660.00 to $675.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Wolfe Research restated an “outperform” rating on shares of Netflix in a research note on Friday, October 18th. BMO Capital Markets restated an “outperform” rating and issued a $825.00 price target (up from $770.00) on shares of Netflix in a research note on Friday, October 18th. Finally, Loop Capital boosted their price target on Netflix from $750.00 to $800.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat.com, Netflix has a consensus rating of “Moderate Buy” and a consensus target price of $747.70.

Netflix Price Performance

Netflix stock opened at $749.12 on Tuesday. Netflix, Inc. has a 52 week low of $399.41 and a 52 week high of $773.00. The stock has a fifty day moving average of $707.88 and a 200-day moving average of $660.73. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13. The stock has a market capitalization of $320.22 billion, a P/E ratio of 42.40, a price-to-earnings-growth ratio of 1.45 and a beta of 1.26.

Insiders Place Their Bets

In other Netflix news, insider David A. Hyman sold 20,656 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total value of $12,499,565.28. Following the completion of the transaction, the insider now owns 31,610 shares of the company’s stock, valued at $19,128,159.30. This represents a 0.00 % decrease in their position. The sale 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 the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total value of $12,499,565.28. Following the completion of the transaction, the insider now owns 31,610 shares of the company’s stock, valued at $19,128,159.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Richard N. Barton sold 5,698 shares of the company’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $756.00, for a total value of $4,307,688.00. Following the completion of the transaction, the director now directly owns 246 shares of the company’s stock, valued at approximately $185,976. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 235,409 shares of company stock valued at $158,213,518 in the last 90 days. Corporate insiders own 1.76% of the company’s stock.

Netflix Company 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.