National Wealth Management Group LLC Takes Position in Netflix, Inc. (NASDAQ:NFLX)

National Wealth Management Group LLC acquired a new stake in Netflix, Inc. (NASDAQ:NFLX) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,270 shares of the Internet television network’s stock, valued at approximately $901,000.

Several other hedge funds also recently modified their holdings of NFLX. Denver PWM LLC bought a new stake in shares of Netflix in the second quarter valued at approximately $25,000. RPg Family Wealth Advisory LLC bought a new position in Netflix in the third quarter worth $25,000. Proffitt & Goodson Inc. lifted its position 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 during the period. E Fund Management Hong Kong Co. Ltd. lifted its position 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 worth $34,000 after purchasing an additional 42 shares during the period. Finally, AlphaMark Advisors LLC lifted its position in Netflix by 642.9% in the second quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock worth $35,000 after purchasing an additional 45 shares during the period. 80.93% of the stock is owned by institutional investors.

Analyst Ratings Changes

NFLX has been the subject of several research reports. Bank of America raised their target price on Netflix from $800.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Guggenheim raised their target price on Netflix from $810.00 to $825.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Sanford C. Bernstein increased their price objective on Netflix from $625.00 to $780.00 and gave the stock a “market perform” rating in a research note on Friday, October 18th. Canaccord Genuity Group increased their price objective on Netflix from $750.00 to $760.00 and gave the stock a “hold” rating in a research note on Friday, October 18th. Finally, Jefferies Financial Group increased their price objective on Netflix from $780.00 to $800.00 and gave the stock a “buy” rating in a research note 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 stock. According to MarketBeat.com, Netflix has an average rating of “Moderate Buy” and a consensus price target of $764.82.

Netflix Price Performance

Netflix stock opened at $877.34 on Thursday. The business’s 50-day simple moving average is $765.83 and its 200 day simple moving average is $696.40. The stock has a market cap of $375.03 billion, a price-to-earnings ratio of 49.65, a P/E/G ratio of 1.67 and a beta of 1.25. Netflix, Inc. has a 12-month low of $445.73 and a 12-month high of $908.00. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62.

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

Insider Activity at Netflix

In related news, Chairman Reed Hastings sold 45,290 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $706.16, for a total value of $31,981,986.40. Following the sale, the chairman now directly owns 85 shares in the company, valued at $60,023.60. This trade represents a 99.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Anne M. Sweeney sold 589 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $880.00, for a total transaction of $518,320.00. The disclosure for this sale can be found here. Insiders have sold 185,866 shares of company stock worth $133,393,921 in the last ninety days. Company insiders own 1.76% of the company’s stock.

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.