MidAtlantic Capital Management Inc. Acquires New Shares in Netflix, Inc. (NASDAQ:NFLX)

MidAtlantic Capital Management Inc. bought a new position in shares of Netflix, Inc. (NASDAQ:NFLX) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 52 shares of the Internet television network’s stock, valued at approximately $37,000.

Several other institutional investors also recently modified their holdings of NFLX. Denver PWM LLC bought a new stake in Netflix in the second quarter valued at approximately $25,000. Proffitt & Goodson Inc. raised its stake in Netflix by 380.0% during the 2nd 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 period. E Fund Management Hong Kong Co. Ltd. lifted its holdings in Netflix by 700.0% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after acquiring an additional 42 shares in the last quarter. AlphaMark Advisors LLC lifted its holdings in 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 in the last quarter. Finally, Triad Wealth Partners LLC acquired a new position in Netflix in the second quarter valued at about $38,000. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Netflix Trading Up 2.8 %

NFLX opened at $847.05 on Tuesday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. Netflix, Inc. has a twelve month low of $445.73 and a twelve month high of $848.45. The stock has a market capitalization of $362.08 billion, a price-to-earnings ratio of 47.94, a P/E/G ratio of 1.59 and a beta of 1.25. The company has a 50-day simple moving average of $739.20 and a 200 day simple moving average of $683.35.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, topping analysts’ consensus estimates of $5.09 by $0.31. The company had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. Analysts predict that Netflix, Inc. will post 19.78 EPS for the current fiscal year.

Insider Buying and Selling at Netflix

In other news, Chairman Reed Hastings sold 25,074 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $680.92, for a total value of $17,073,388.08. Following the sale, the chairman now directly owns 85 shares in the company, valued at approximately $57,878.20. This trade represents a 99.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jay C. Hoag sold 43,750 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $687.07, for a total transaction of $30,059,312.50. Following the transaction, the director now owns 95,040 shares of the company’s stock, valued at approximately $65,299,132.80. This represents a 31.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 185,277 shares of company stock valued at $132,875,601. 1.76% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on NFLX shares. China Renaissance started coverage on Netflix in a report on Thursday, September 5th. They set a “hold” rating and a $680.00 price objective on the stock. JPMorgan Chase & Co. upped their price target on shares of Netflix from $750.00 to $850.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Piper Sandler reaffirmed an “overweight” rating and issued a $840.00 price objective (up from $800.00) on shares of Netflix in a research report on Friday, October 18th. Benchmark restated a “sell” rating and issued a $545.00 target price on shares of Netflix in a research note on Tuesday, October 15th. Finally, 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. 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 company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $753.45.

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.