Kestra Investment Management LLC Purchases New Position in Netflix, Inc. (NASDAQ:NFLX)

Kestra Investment Management LLC acquired a new position in shares of Netflix, Inc. (NASDAQ:NFLX) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,139 shares of the Internet television network’s stock, valued at approximately $1,517,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Denver PWM LLC bought a new position in Netflix during the 2nd quarter valued at $25,000. RPg Family Wealth Advisory LLC purchased a new stake in Netflix in the 3rd quarter valued at about $25,000. Proffitt & Goodson Inc. lifted its position in shares of Netflix by 380.0% during the 2nd quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock worth $32,000 after buying an additional 38 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. boosted its stake in shares of Netflix by 700.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after buying an additional 42 shares during the last quarter. Finally, AlphaMark Advisors LLC grew its holdings in shares of Netflix by 642.9% in the second quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock valued at $35,000 after acquiring an additional 45 shares in the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Netflix

In related news, CEO Gregory K. Peters sold 4,392 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $725.00, for a total value of $3,184,200.00. Following the sale, the chief executive officer now owns 13,090 shares in the company, valued at $9,490,250. This represents a 25.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Reed Hastings sold 25,074 shares of Netflix stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $680.92, for a total value of $17,073,388.08. Following the transaction, the chairman now owns 85 shares of the company’s stock, valued at $57,878.20. The trade was a 99.66 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 185,866 shares of company stock valued at $133,393,921. 1.76% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Piper Sandler reissued an “overweight” rating and issued a $840.00 price objective (up previously from $800.00) on shares of Netflix in a research report on Friday, October 18th. Canaccord Genuity Group increased their price target on shares of Netflix from $750.00 to $760.00 and gave the company a “hold” rating in a research report on Friday, October 18th. Pivotal Research lifted their price objective on shares of Netflix from $925.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Needham & Company LLC increased their target price on shares of Netflix from $700.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Finally, Barclays reiterated an “underweight” rating and issued a $550.00 price objective on shares of Netflix in a research note on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $764.82.

Netflix Price Performance

Shares of NASDAQ NFLX opened at $886.81 on Friday. Netflix, Inc. has a 1 year low of $445.73 and a 1 year high of $908.00. The stock has a market capitalization of $379.08 billion, a P/E ratio of 50.19, a P/E/G ratio of 1.71 and a beta of 1.25. The company’s 50-day moving average is $773.01 and its 200 day moving average is $700.14. 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 (NASDAQ:NFLX) last posted its earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $9.77 billion. On average, sell-side analysts expect that Netflix, Inc. will post 19.78 earnings per share for the current year.

Netflix 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.