Objective Capital Management LLC Invests $519,000 in Netflix, Inc. (NASDAQ:NFLX)

Objective Capital Management LLC purchased a new stake in shares of Netflix, Inc. (NASDAQ:NFLX) during the third quarter, HoldingsChannel reports. The fund purchased 732 shares of the Internet television network’s stock, valued at approximately $519,000.

A number of other hedge funds also recently bought and sold shares of NFLX. Empowered Funds LLC raised its stake in Netflix by 13.9% during the first quarter. Empowered Funds LLC now owns 7,750 shares of the Internet television network’s stock valued at $4,707,000 after purchasing an additional 945 shares in the last quarter. Smithfield Trust Co increased its position in Netflix by 3.5% during the first quarter. Smithfield Trust Co now owns 596 shares of the Internet television network’s stock valued at $364,000 after acquiring an additional 20 shares during the last quarter. KCM Investment Advisors LLC increased its position in Netflix by 14.6% during the first quarter. KCM Investment Advisors LLC now owns 620 shares of the Internet television network’s stock valued at $377,000 after acquiring an additional 79 shares during the last quarter. Montag A & Associates Inc. increased its position in Netflix by 63.0% during the first quarter. Montag A & Associates Inc. now owns 10,845 shares of the Internet television network’s stock valued at $6,586,000 after acquiring an additional 4,191 shares during the last quarter. Finally, Reynders McVeigh Capital Management LLC bought a new position in Netflix during the first quarter valued at $246,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Insider Activity at Netflix

In related news, CEO Gregory K. Peters sold 4,644 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $700.00, for a total value of $3,250,800.00. Following the completion of the transaction, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at $9,163,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Gregory K. Peters sold 4,644 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $700.00, for a total value of $3,250,800.00. Following the transaction, the chief executive officer now owns 13,090 shares in the company, valued at approximately $9,163,000. This represents 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, Director Jay C. Hoag sold 37,675 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $629.73, for a total transaction of $23,725,077.75. The disclosure for this sale can be found here. Insiders sold 242,112 shares of company stock valued at $169,954,456 in the last three months. 1.76% of the stock is owned by insiders.

Netflix Stock Performance

Shares of Netflix stock traded down $1.50 during midday trading on Friday, hitting $795.04. The company had a trading volume of 1,910,626 shares, compared to its average volume of 3,927,056. The stock has a market cap of $339.85 billion, a price-to-earnings ratio of 44.99, a PEG ratio of 1.50 and a beta of 1.25. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. The company has a fifty day simple moving average of $721.55 and a 200 day simple moving average of $670.54. Netflix, Inc. has a 12-month low of $434.35 and a 12-month high of $799.06.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on NFLX shares. Oppenheimer boosted their price objective on shares of Netflix from $775.00 to $825.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Benchmark restated a “sell” rating and issued a $545.00 price target on shares of Netflix in a report on Tuesday, October 15th. Morgan Stanley upped their price target on shares of Netflix from $820.00 to $830.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Wells Fargo & Company upped their price target on shares of Netflix from $758.00 to $797.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Finally, The Goldman Sachs Group set a $750.00 price target on shares of Netflix in a report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat, Netflix has an average rating of “Moderate Buy” and an average target price of $748.15.

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.