Netflix, Inc. (NASDAQ:NFLX) is Frank Rimerman Advisors LLC’s 8th Largest Position

Frank Rimerman Advisors LLC raised its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 0.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,233 shares of the Internet television network’s stock after purchasing an additional 234 shares during the period. Netflix accounts for 2.9% of Frank Rimerman Advisors LLC’s holdings, making the stock its 8th biggest position. Frank Rimerman Advisors LLC’s holdings in Netflix were worth $41,303,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Denver PWM LLC purchased a new stake in shares of Netflix during the second quarter worth approximately $25,000. Valued Wealth Advisors LLC lifted its position in Netflix by 80.0% during the first quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock worth $27,000 after buying an additional 20 shares in the last quarter. Proffitt & Goodson Inc. boosted its stake in Netflix by 380.0% during the second quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock worth $32,000 after buying an additional 38 shares during the last quarter. AlphaMark Advisors LLC grew its holdings in Netflix by 642.9% in the 2nd quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock valued at $35,000 after buying an additional 45 shares in the last quarter. Finally, Triad Wealth Partners LLC acquired a new stake in shares of Netflix in the 2nd quarter worth $38,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on NFLX shares. Citigroup boosted their price target on shares of Netflix from $660.00 to $675.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Argus boosted their target price on shares of Netflix from $660.00 to $767.00 and gave the company a “buy” rating in a report on Tuesday, July 2nd. Macquarie restated an “outperform” rating and set a $795.00 price target on shares of Netflix in a report on Friday, October 18th. Morgan Stanley lifted their price target on shares of Netflix from $820.00 to $830.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Finally, China Renaissance began coverage on Netflix in a research report on Thursday, September 5th. They issued a “hold” rating and a $680.00 price objective for the company. Two 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. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $747.70.

Insider Transactions at Netflix

In other news, insider David A. Hyman sold 20,656 shares of the firm’s 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 sale, the insider now owns 31,610 shares of the company’s stock, valued at approximately $19,128,159.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Netflix news, insider David A. Hyman sold 13,791 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $700.00, for a total value of $9,653,700.00. Following the completion of the transaction, the insider now owns 31,610 shares in the company, valued at $22,127,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 value of $12,499,565.28. Following the sale, the insider now owns 31,610 shares in the company, valued at $19,128,159.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 229,711 shares of company stock valued at $153,905,830. 1.76% of the stock is currently owned by corporate insiders.

Netflix Stock Performance

NASDAQ:NFLX opened at $754.68 on Friday. Netflix, Inc. has a 12 month low of $395.62 and a 12 month high of $773.00. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 0.95. The firm has a market capitalization of $322.60 billion, a PE ratio of 42.71, a price-to-earnings-growth ratio of 1.48 and a beta of 1.26. The business’s fifty day moving average price is $706.67 and its 200 day moving average price is $659.59.

About Netflix

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.