Netflix, Inc. (NASDAQ:NFLX) Stake Boosted by Naviter Wealth LLC

by · The Cerbat Gem

Naviter Wealth LLC grew its stake in shares of Netflix, Inc. (NASDAQ:NFLX – Free Report) by 3.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,447 shares of the Internet television network’s stock after acquiring an additional 100 shares during the period. Naviter Wealth LLC’s holdings in Netflix were worth $3,219,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Halbert Hargrove Global Advisors LLC raised its position in Netflix by 100.0% during the first quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network’s stock valued at $25,000 after acquiring an additional 13 shares in the last quarter. Brown Shipley& Co Ltd bought a new position in Netflix during the fourth quarter valued at approximately $27,000. Transce3nd LLC bought a new position in Netflix during the fourth quarter valued at approximately $32,000. Copia Wealth Management bought a new position in Netflix during the fourth quarter valued at approximately $37,000. Finally, Stuart Chaussee & Associates Inc. raised its position in Netflix by 4,500.0% during the fourth quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network’s stock valued at $41,000 after acquiring an additional 45 shares in the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Netflix Price Performance

Shares of NFLX opened at $1,323.12 on Friday. Netflix, Inc. has a twelve month low of $587.04 and a twelve month high of $1,331.35. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.58. The company has a 50 day moving average of $1,183.25 and a 200-day moving average of $1,024.18. The stock has a market capitalization of $563.08 billion, a P/E ratio of 62.53, a P/E/G ratio of 2.56 and a beta of 1.59.

Netflix (NASDAQ:NFLX – Get Free Report) last released its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, beating the consensus estimate of $5.74 by $0.87. Netflix had a net margin of 23.07% and a return on equity of 39.61%. The business had revenue of $10.54 billion during the quarter, compared to analysts’ expectations of $10.51 billion. During the same period last year, the business earned $8.28 earnings per share. As a group, equities research analysts forecast that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Insider Activity at Netflix

In other Netflix news, insider Cletus R. Willems sold 298 shares of Netflix stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $1,138.00, for a total transaction of $339,124.00. Following the completion of the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at $35,972,180. The trade was a 0.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Jeffrey William Karbowski sold 620 shares of Netflix stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $1,286.84, for a total transaction of $797,840.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 185,280 shares of company stock valued at $210,599,866. 1.37% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Evercore ISI reaffirmed an “outperform” rating on shares of Netflix in a research report on Thursday, May 15th. Canaccord Genuity Group raised their price objective on shares of Netflix from $1,200.00 to $1,380.00 and gave the stock a “buy” rating in a research note on Friday, May 16th. Wells Fargo & Company lifted their price target on shares of Netflix from $1,222.00 to $1,500.00 and gave the stock an “overweight” rating in a research note on Friday, June 20th. Macquarie lifted their price target on shares of Netflix from $1,150.00 to $1,200.00 and gave the stock an “outperform” rating in a research note on Monday, April 21st. Finally, Rosenblatt Securities lifted their price target on shares of Netflix from $1,494.00 to $1,514.00 and gave the stock a “buy” rating in a research note on Monday, April 21st. Eleven investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,172.73.

Check Out Our Latest Stock Analysis on NFLX

Netflix Profile

(Free Report)

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.

Further Reading

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