Castle Rock Wealth Management LLC Buys 106 Shares of Netflix, Inc. (NASDAQ:NFLX)

Castle Rock Wealth Management LLC lifted its position in Netflix, Inc. (NASDAQ:NFLX) by 2.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,812 shares of the Internet television network’s stock after buying an additional 106 shares during the quarter. Castle Rock Wealth Management LLC’s holdings in Netflix were worth $2,700,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in NFLX. Wellington Management Group LLP grew its position in shares of Netflix by 540.9% in the 4th quarter. Wellington Management Group LLP now owns 3,878,785 shares of the Internet television network’s stock valued at $1,888,503,000 after acquiring an additional 3,273,592 shares during the period. GQG Partners LLC bought a new stake in shares of Netflix in the 1st quarter valued at about $1,450,476,000. Jennison Associates LLC grew its holdings in Netflix by 17.0% during the first quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock worth $3,875,655,000 after purchasing an additional 929,193 shares during the period. Global Assets Advisory LLC acquired a new position in Netflix during the first quarter worth approximately $436,514,000. Finally, Jericho Capital Asset Management L.P. acquired a new position in Netflix during the first quarter worth approximately $372,293,000. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Netflix news, Chairman Reed Hastings sold 45,290 shares of the company’s 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 completion of the transaction, the chairman now directly owns 85 shares in the company, valued at approximately $60,023.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Netflix news, insider David A. Hyman sold 20,656 shares of Netflix 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 transaction, the insider now directly 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Reed Hastings sold 45,290 shares of the company’s stock in a transaction dated 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 completion of the sale, the chairman now owns 85 shares in the company, valued at $60,023.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 224,784 shares of company stock worth $150,212,870 in the last ninety days. Company insiders own 1.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on NFLX. Rosenblatt Securities reiterated a “neutral” rating and set a $635.00 target price on shares of Netflix in a research note on Friday, September 20th. Oppenheimer raised their price target on Netflix from $725.00 to $775.00 and gave the company an “outperform” rating in a report on Thursday. China Renaissance began coverage on shares of Netflix in a report on Thursday, September 5th. They issued a “hold” rating and a $680.00 price objective on the stock. KeyCorp raised their target price on shares of Netflix from $735.00 to $760.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 1st. Finally, Piper Sandler upgraded shares of Netflix from a “neutral” rating to an “overweight” rating and upped their price target for the company from $650.00 to $800.00 in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $702.79.

Netflix Price Performance

Netflix stock traded down $5.15 during mid-day trading on Friday, reaching $725.14. The company had a trading volume of 797,264 shares, compared to its average volume of 3,642,165. The business has a fifty day simple moving average of $684.42 and a 200 day simple moving average of $650.52. The company has a market cap of $311.21 billion, a P/E ratio of 45.72, a P/E/G ratio of 1.49 and a beta of 1.26. Netflix, Inc. has a fifty-two week low of $344.73 and a fifty-two week high of $735.56. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, topping analysts’ consensus estimates of $4.74 by $0.14. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The business had revenue of $9.56 billion for the quarter, compared to analyst estimates of $9.53 billion. During the same quarter in the previous year, the company posted $3.29 EPS. Netflix’s quarterly revenue was up 16.8% compared to the same quarter last year. On average, equities research analysts predict that Netflix, Inc. will post 19.08 earnings per share for the current year.

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.