Smith Salley Wealth Management Raises Position in Netflix, Inc. (NASDAQ:NFLX)

Smith Salley Wealth Management raised its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 4.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,488 shares of the Internet television network’s stock after acquiring an additional 70 shares during the period. Smith Salley Wealth Management’s holdings in Netflix were worth $1,055,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in NFLX. DigitalBridge Group Inc. raised its holdings in Netflix by 35.5% in the second quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock worth $24,338,000 after purchasing an additional 9,451 shares in the last quarter. M&G Plc purchased a new position in Netflix during the 1st quarter valued at about $9,682,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in Netflix by 58.2% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 82,931 shares of the Internet television network’s stock worth $55,968,000 after acquiring an additional 30,511 shares in the last quarter. First Trust Direct Indexing L.P. grew its holdings in Netflix by 14.9% in the first quarter. First Trust Direct Indexing L.P. now owns 10,330 shares of the Internet television network’s stock worth $6,274,000 after purchasing an additional 1,342 shares during the period. Finally, Janney Montgomery Scott LLC increased its stake in shares of Netflix by 13.9% during the first quarter. Janney Montgomery Scott LLC now owns 60,721 shares of the Internet television network’s stock valued at $36,878,000 after purchasing an additional 7,406 shares in the last quarter. Institutional investors own 80.93% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on NFLX. Redburn Atlantic upped their price target on Netflix from $740.00 to $760.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Wells Fargo & Company raised their price target on Netflix from $758.00 to $797.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Guggenheim upped their price target on shares of Netflix from $735.00 to $810.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Loop Capital lifted their target price on shares of Netflix from $750.00 to $800.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, Piper Sandler reiterated an “overweight” rating and set a $840.00 price target (up previously from $800.00) on shares of Netflix in a report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat, Netflix has an average rating of “Moderate Buy” and an average price target of $747.70.

Insiders Place Their Bets

In other news, CEO Gregory K. Peters sold 4,186 shares of the stock in a transaction on Friday, October 18th. The shares were sold at an average price of $750.00, for a total value of $3,139,500.00. Following the completion of the sale, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at $9,817,500. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Gregory K. Peters sold 4,186 shares of the company’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $750.00, for a total value of $3,139,500.00. Following the completion of the transaction, the chief executive officer now owns 13,090 shares of the company’s stock, valued at approximately $9,817,500. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Leslie J. Kilgore sold 358 shares of the stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $765.00, for a total value of $273,870.00. Following the sale, the director now owns 35,262 shares of the company’s stock, valued at $26,975,430. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 229,711 shares of company stock worth $153,905,830. Company insiders own 1.76% of the company’s stock.

Netflix Stock Up 0.0 %

NFLX stock opened at $754.68 on Monday. The business’s 50-day moving average price is $706.67 and its 200-day moving average price is $659.88. The stock has a market cap of $325.27 billion, a P/E ratio of 52.37, a PEG ratio of 1.48 and a beta of 1.26. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. Netflix, Inc. has a twelve month low of $395.62 and a twelve month high of $773.00.

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.