Riversedge Advisors LLC Makes New $202,000 Investment in Netflix, Inc. (NASDAQ:NFLX)

Riversedge Advisors LLC purchased a new position in shares of Netflix, Inc. (NASDAQ:NFLX) during the third quarter, Holdings Channel.com reports. The firm purchased 285 shares of the Internet television network’s stock, valued at approximately $202,000.

Several other large investors also recently modified their holdings of the stock. DigitalBridge Group Inc. increased its stake in Netflix by 35.5% in the second quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock valued at $24,338,000 after purchasing an additional 9,451 shares in the last quarter. M&G Plc acquired a new position in Netflix during the 1st quarter worth approximately $9,682,000. BSN CAPITAL PARTNERS Ltd boosted its holdings in Netflix by 24.4% in the first quarter. BSN CAPITAL PARTNERS Ltd now owns 250,000 shares of the Internet television network’s stock worth $155,185,000 after acquiring an additional 49,000 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in Netflix by 58.2% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 82,931 shares of the Internet television network’s stock valued at $55,968,000 after acquiring an additional 30,511 shares during the period. Finally, First Trust Direct Indexing L.P. increased its holdings in shares of Netflix by 14.9% during the first quarter. First Trust Direct Indexing L.P. now owns 10,330 shares of the Internet television network’s stock valued at $6,274,000 after acquiring an additional 1,342 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Price Performance

NFLX traded down $5.69 during midday trading on Thursday, hitting $696.31. The company had a trading volume of 2,838,716 shares, compared to its average volume of 3,632,196. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95. The firm’s 50-day simple moving average is $692.63 and its 200-day simple moving average is $653.38. Netflix, Inc. has a twelve month low of $344.73 and a twelve month high of $736.00. The company has a market capitalization of $300.11 billion, a PE ratio of 48.07, a P/E/G ratio of 1.49 and a beta of 1.26.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.74 by $0.14. The company had revenue of $9.56 billion during the quarter, compared to analyst estimates of $9.53 billion. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The firm’s revenue was up 16.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.29 EPS. Equities research analysts predict that Netflix, Inc. will post 19.08 EPS for the current fiscal year.

Insider Transactions at Netflix

In other news, Director Leslie J. Kilgore sold 383 shares of the stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $730.00, for a total value of $279,590.00. Following the completion of the sale, the director now owns 35,262 shares of the company’s stock, valued at approximately $25,741,260. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, 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 transaction of $31,981,986.40. Following the completion of the sale, the chairman now owns 85 shares of the company’s stock, valued at $60,023.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Leslie J. Kilgore sold 383 shares of Netflix stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $730.00, for a total value of $279,590.00. Following the completion of the transaction, the director now owns 35,262 shares in the company, valued at approximately $25,741,260. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 225,167 shares of company stock valued at $150,492,460 over the last 90 days. 1.76% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on NFLX. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $750.00 price target on shares of Netflix in a research report on Tuesday, October 8th. Pivotal Research upped their target price on shares of Netflix from $800.00 to $900.00 and gave the stock a “buy” rating in a report on Friday, August 30th. StockNews.com upgraded Netflix from a “hold” rating to a “buy” rating in a research note on Tuesday, September 24th. Benchmark reissued a “sell” rating and issued a $545.00 price objective on shares of Netflix in a research note on Tuesday. Finally, Sanford C. Bernstein lifted their price objective on shares of Netflix from $600.00 to $625.00 and gave the stock a “market perform” rating in a report on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat.com, Netflix presently has a consensus rating of “Moderate Buy” and a consensus target price of $704.26.

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.