First Trust Direct Indexing L.P. Grows Stake in Netflix, Inc. (NASDAQ:NFLX)

First Trust Direct Indexing L.P. lifted its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 8.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,347 shares of the Internet television network’s stock after purchasing an additional 1,051 shares during the period. Netflix accounts for 0.5% of First Trust Direct Indexing L.P.’s investment portfolio, making the stock its 24th biggest holding. First Trust Direct Indexing L.P.’s holdings in Netflix were worth $9,466,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of the stock. Hennion & Walsh Asset Management Inc. purchased a new stake in Netflix during the 1st quarter worth about $230,000. Valley National Advisers Inc. grew its position in Netflix by 7.4% during the first quarter. Valley National Advisers Inc. now owns 627 shares of the Internet television network’s stock worth $380,000 after buying an additional 43 shares in the last quarter. Kovack Advisors Inc. increased its stake in Netflix by 13.9% in the 1st quarter. Kovack Advisors Inc. now owns 1,891 shares of the Internet television network’s stock worth $1,148,000 after acquiring an additional 231 shares during the last quarter. Core Wealth Partners LLC purchased a new stake in shares of Netflix in the 1st quarter valued at about $278,000. Finally, Wealth Management Resources Inc. bought a new stake in shares of Netflix during the 1st quarter valued at about $244,000. Institutional investors own 80.93% of the company’s stock.

Netflix Stock Down 0.7 %

NFLX stock traded down $5.63 on Wednesday, reaching $753.81. 471,008 shares of the company traded hands, compared to its average volume of 3,701,809. The firm has a fifty day simple moving average of $709.10 and a 200-day simple moving average of $661.69. The company has a market cap of $322.22 billion, a P/E ratio of 42.71, a price-to-earnings-growth ratio of 1.45 and a beta of 1.26. Netflix, Inc. has a one year low of $404.63 and a one year high of $773.00. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13.

Insider Buying and Selling

In other Netflix news, CEO Gregory K. Peters sold 1,278 shares of Netflix stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $614.44, for a total value of $785,254.32. Following the completion of the sale, the chief executive officer now owns 13,090 shares of the company’s stock, valued at approximately $8,043,019.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Netflix news, insider David A. Hyman sold 20,656 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the completion of the sale, the insider now owns 31,610 shares of the company’s stock, valued at approximately $19,128,159.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Gregory K. Peters sold 1,278 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $614.44, for a total value of $785,254.32. Following the completion of the sale, the chief executive officer now owns 13,090 shares of the company’s stock, valued at approximately $8,043,019.60. 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 worth $158,213,518 in the last three months. Insiders own 1.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on NFLX shares. Barclays restated an “underweight” rating and issued a $550.00 price objective on shares of Netflix in a research report on Friday, October 18th. China Renaissance began coverage on shares of Netflix in a research report on Thursday, September 5th. They set a “hold” rating and a $680.00 price objective on the stock. UBS Group upped their target price on shares of Netflix from $750.00 to $825.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Jefferies Financial Group raised their price target on Netflix from $780.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Finally, Rosenblatt Securities upped their price objective on Netflix from $635.00 to $680.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $748.15.

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.