Meridian Wealth Management LLC Increases Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Meridian Wealth Management LLC lifted its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 4.2% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 6,515 shares of the Internet television network’s stock after acquiring an additional 265 shares during the period. Meridian Wealth Management LLC’s holdings in Netflix were worth $4,621,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. New World Advisors LLC increased its holdings in Netflix by 2.0% during the 3rd quarter. New World Advisors LLC now owns 724 shares of the Internet television network’s stock worth $514,000 after purchasing an additional 14 shares during the last quarter. Heartland Bank & Trust Co increased its holdings in shares of Netflix by 0.9% in the 2nd quarter. Heartland Bank & Trust Co now owns 1,770 shares of the Internet television network’s stock valued at $1,195,000 after acquiring an additional 15 shares during the last quarter. Cedrus LLC increased its holdings in shares of Netflix by 0.8% in the 3rd quarter. Cedrus LLC now owns 1,781 shares of the Internet television network’s stock valued at $1,263,000 after acquiring an additional 15 shares during the last quarter. Capstone Triton Financial Group LLC increased its holdings in shares of Netflix by 0.6% in the 3rd quarter. Capstone Triton Financial Group LLC now owns 2,421 shares of the Internet television network’s stock valued at $1,717,000 after acquiring an additional 15 shares during the last quarter. Finally, Meritas Wealth Management LLC increased its holdings in shares of Netflix by 2.9% in the 3rd quarter. Meritas Wealth Management LLC now owns 573 shares of the Internet television network’s stock valued at $406,000 after acquiring an additional 16 shares during the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider David A. Hyman sold 267 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total transaction of $204,433.89. Following the completion of the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $24,202,828.70. This represents a 0.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Timothy M. Haley sold 11,090 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $757.96, for a total value of $8,405,776.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 185,866 shares of company stock worth $133,393,921. 1.76% of the stock is owned by corporate insiders.

Netflix Stock Up 0.0 %

NASDAQ:NFLX opened at $897.88 on Friday. Netflix, Inc. has a 1 year low of $445.73 and a 1 year high of $908.00. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. The stock has a market cap of $383.81 billion, a price-to-earnings ratio of 50.71, a PEG ratio of 1.68 and a beta of 1.25. The stock has a 50-day moving average price of $751.39 and a two-hundred day moving average price of $688.25.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.09 by $0.31. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The firm had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.77 billion. As a group, equities analysts expect that Netflix, Inc. will post 19.78 earnings per share for the current year.

Analysts Set New Price Targets

NFLX has been the subject of a number of research analyst reports. Oppenheimer boosted their price target on Netflix from $775.00 to $825.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Wells Fargo & Company boosted their price objective on Netflix from $758.00 to $797.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Deutsche Bank Aktiengesellschaft boosted their price objective on Netflix from $590.00 to $650.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Loop Capital boosted their price objective on Netflix from $750.00 to $800.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, Evercore ISI boosted their price objective on Netflix from $750.00 to $775.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Two equities research 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 company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $764.82.

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.