Better Money Decisions LLC Boosts Stake in Netflix, Inc. (NASDAQ:NFLX)

Better Money Decisions LLC raised its position in Netflix, Inc. (NASDAQ:NFLX) by 14.4% during the third quarter, HoldingsChannel.com reports. The firm owned 793 shares of the Internet television network’s stock after purchasing an additional 100 shares during the period. Better Money Decisions LLC’s holdings in Netflix were worth $562,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Denver PWM LLC purchased a new position in shares of Netflix during the second quarter worth approximately $25,000. Proffitt & Goodson Inc. increased its position in shares of 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 acquiring an additional 38 shares during the period. AlphaMark Advisors LLC increased its position in shares of Netflix by 642.9% during the second quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock worth $35,000 after acquiring an additional 45 shares during the period. Triad Wealth Partners LLC purchased a new position in shares of Netflix during the second quarter worth approximately $38,000. Finally, Summit Securities Group LLC purchased a new position in shares of Netflix during the second quarter worth approximately $38,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on NFLX. Oppenheimer raised their target price on shares of Netflix from $775.00 to $825.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Pivotal Research lifted their price objective on shares of Netflix from $900.00 to $925.00 and gave the company a “buy” rating in a report on Friday, October 18th. TD Cowen lifted their price objective on shares of Netflix from $820.00 to $835.00 and gave the company a “buy” rating in a report on Friday, October 18th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Netflix from $590.00 to $650.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Finally, The Goldman Sachs Group set a $750.00 price objective on shares of Netflix in a report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $748.15.

Insider Transactions at Netflix

In other news, Chairman Reed Hastings sold 45,290 shares of Netflix stock in a transaction on 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 directly owns 85 shares in the company, valued at approximately $60,023.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Gregory K. Peters sold 1,278 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $614.44, for a total transaction of $785,254.32. Following the completion of the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at $8,043,019.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Reed Hastings sold 45,290 shares of the business’s stock in a transaction on 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 transaction, 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 235,409 shares of company stock worth $158,213,518. Company insiders own 1.76% of the company’s stock.

Netflix Trading Up 1.4 %

NASDAQ:NFLX opened at $759.44 on Wednesday. Netflix, Inc. has a 12 month low of $399.41 and a 12 month high of $773.00. The firm has a fifty day simple moving average of $709.10 and a 200-day simple moving average of $661.69. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $324.63 billion, a P/E ratio of 42.98, a PEG ratio of 1.45 and a beta of 1.26.

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.