First Horizon Advisors Inc. grew its position in Netflix, Inc. (NASDAQ:NFLX – Free Report) by 8.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,987 shares of the Internet television network’s stock after purchasing an additional 155 shares during the period. First Horizon Advisors Inc.’s holdings in Netflix were worth $1,409,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of the company. New World Advisors LLC increased its position in Netflix by 2.0% in the 3rd quarter. New World Advisors LLC now owns 724 shares of the Internet television network’s stock valued at $514,000 after acquiring an additional 14 shares during the period. Heartland Bank & Trust Co grew its stake in shares of Netflix by 0.9% in the 2nd quarter. Heartland Bank & Trust Co now owns 1,770 shares of the Internet television network’s stock valued at $1,195,000 after purchasing an additional 15 shares during the last quarter. Cedrus LLC increased its holdings in shares of Netflix by 0.8% in the third quarter. Cedrus LLC now owns 1,781 shares of the Internet television network’s stock valued at $1,263,000 after purchasing an additional 15 shares during the period. Capstone Triton Financial Group LLC raised its stake in shares of Netflix by 0.6% during the third quarter. Capstone Triton Financial Group LLC now owns 2,421 shares of the Internet television network’s stock worth $1,717,000 after purchasing an additional 15 shares during the last quarter. Finally, Meritas Wealth Management LLC lifted its holdings in shares of Netflix by 2.9% during the third quarter. Meritas Wealth Management LLC now owns 573 shares of the Internet television network’s stock worth $406,000 after purchasing an additional 16 shares during the period. 80.93% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
NFLX has been the subject of a number of analyst reports. StockNews.com upgraded shares of Netflix from a “hold” rating to a “buy” rating in a research report on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Netflix from $590.00 to $650.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Pivotal Research boosted their target price on Netflix from $925.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Wednesday. Rosenblatt Securities raised their price target on Netflix from $635.00 to $680.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Finally, KeyCorp upped their price objective on Netflix from $760.00 to $785.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat, Netflix currently has an average rating of “Moderate Buy” and a consensus price target of $764.82.
Insider Activity at Netflix
In other news, Director Anne M. Sweeney sold 589 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $880.00, for a total transaction of $518,320.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Reed Hastings sold 25,074 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $680.92, for a total value of $17,073,388.08. Following the completion of the transaction, the chairman now directly owns 85 shares in the company, valued at $57,878.20. This trade represents a 99.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 185,866 shares of company stock worth $133,393,921. 1.76% of the stock is currently owned by insiders.
Netflix Stock Performance
Shares of NASDAQ NFLX opened at $896.05 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. The company has a market cap of $383.03 billion, a PE ratio of 50.71, a price-to-earnings-growth ratio of 1.68 and a beta of 1.25. The company has a 50-day simple moving average of $751.39 and a 200-day simple moving average of $688.25. Netflix, Inc. has a 12 month low of $445.73 and a 12 month high of $908.00.
Netflix (NASDAQ:NFLX – Get Free Report) last issued its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, beating the consensus estimate of $5.09 by $0.31. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The company had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.77 billion. On average, equities analysts anticipate that Netflix, Inc. will post 19.78 earnings per share for the current year.
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.
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