Howe & Rusling Inc. Grows Holdings in Netflix, Inc. (NASDAQ:NFLX)

Howe & Rusling Inc. raised its position in Netflix, Inc. (NASDAQ:NFLX) by 17.0% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 668 shares of the Internet television network’s stock after purchasing an additional 97 shares during the period. Howe & Rusling Inc.’s holdings in Netflix were worth $474,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Denver PWM LLC purchased a new position in Netflix in the second quarter valued at about $25,000. Proffitt & Goodson Inc. grew its stake in Netflix by 380.0% in the second quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock worth $32,000 after purchasing an additional 38 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. increased its holdings in Netflix by 700.0% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock valued at $34,000 after buying an additional 42 shares during the last quarter. AlphaMark Advisors LLC grew its position in shares of Netflix by 642.9% in 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 in the last quarter. Finally, MidAtlantic Capital Management Inc. acquired a new position in Netflix in the third quarter worth $37,000. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Netflix Stock Up 1.4 %

NFLX opened at $883.85 on Thursday. The company has a market capitalization of $377.81 billion, a PE ratio of 50.02, a price-to-earnings-growth ratio of 1.68 and a beta of 1.25. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. Netflix, Inc. has a fifty-two week low of $445.73 and a fifty-two week high of $890.60. The business has a 50-day moving average of $747.20 and a 200-day moving average of $686.80.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, beating analysts’ consensus estimates of $5.09 by $0.31. The business had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. Equities research analysts forecast that Netflix, Inc. will post 19.78 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Chairman Reed Hastings sold 25,074 shares of Netflix stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $680.92, for a total value of $17,073,388.08. Following the transaction, the chairman now directly owns 85 shares in the company, valued at approximately $57,878.20. The trade was a 99.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Anne M. Sweeney sold 589 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $880.00, for a total value of $518,320.00. The disclosure for this sale can be found here. Insiders sold 185,866 shares of company stock valued at $133,393,921 over the last 90 days. 1.76% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Loop Capital raised their price target on shares of Netflix from $750.00 to $800.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Rosenblatt Securities upped their target price on Netflix from $635.00 to $680.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Barclays reissued an “underweight” rating and issued a $550.00 price target on shares of Netflix in a report on Friday, October 18th. Morgan Stanley upped their price objective on Netflix from $820.00 to $830.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Finally, StockNews.com upgraded shares of Netflix from a “hold” rating to a “buy” rating in a research report on Tuesday, September 24th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $758.76.

About Netflix

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.