Wedbush Securities Inc. Buys 1,407 Shares of Netflix, Inc. (NASDAQ:NFLX)

Wedbush Securities Inc. lifted its position in Netflix, Inc. (NASDAQ:NFLX) by 9.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 16,219 shares of the Internet television network’s stock after purchasing an additional 1,407 shares during the period. Wedbush Securities Inc.’s holdings in Netflix were worth $10,946,000 as of its most recent SEC filing.

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 stake in shares of Netflix during the second quarter worth about $25,000. Valued Wealth Advisors LLC increased its stake in shares of Netflix by 80.0% during the first quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock valued at $27,000 after buying an additional 20 shares during the period. VitalStone Financial LLC raised its holdings in shares of Netflix by 933.3% during the fourth quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock valued at $30,000 after acquiring an additional 56 shares in the last quarter. Beaird Harris Wealth Management LLC lifted its stake in Netflix by 1,550.0% in the fourth quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock worth $32,000 after acquiring an additional 62 shares during the period. Finally, Scarborough Advisors LLC bought a new stake in Netflix in the fourth quarter valued at $32,000. 80.93% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Netflix news, Chairman Reed Hastings sold 25,074 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $680.92, for a total transaction of $17,073,388.08. Following the completion of the transaction, the chairman now owns 85 shares in the company, valued at approximately $57,878.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider David A. Hyman sold 13,791 shares of the stock in a transaction dated 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 sale, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $22,127,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Reed Hastings sold 25,074 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $680.92, for a total transaction of $17,073,388.08. Following the completion of the sale, the chairman now directly owns 85 shares of the company’s stock, valued at approximately $57,878.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 157,831 shares of company stock worth $102,721,884. Corporate insiders own 1.76% of the company’s stock.

Netflix Trading Up 0.6 %

Netflix stock opened at $669.95 on Monday. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95. The firm’s 50 day moving average price is $659.89 and its 200-day moving average price is $634.66. Netflix, Inc. has a 1 year low of $344.73 and a 1 year high of $711.33. The stock has a market cap of $287.52 billion, a P/E ratio of 46.20, a PEG ratio of 1.36 and a beta of 1.26.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, topping the consensus estimate of $4.74 by $0.14. The business had revenue of $9.56 billion for the quarter, compared to analysts’ expectations of $9.53 billion. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The business’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.29 EPS. On average, equities analysts predict that Netflix, Inc. will post 19.08 earnings per share for the current fiscal year.

Analyst Ratings Changes

NFLX has been the subject of several research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $700.00 target price on shares of Netflix in a research report on Friday, July 19th. Wedbush restated an “outperform” rating and set a $725.00 price target on shares of Netflix in a research report on Monday, May 20th. The Goldman Sachs Group increased their price objective on Netflix from $650.00 to $659.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. Guggenheim boosted their target price on shares of Netflix from $700.00 to $735.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Finally, Macquarie reiterated an “outperform” rating and issued a $685.00 price target on shares of Netflix in a research note on Tuesday, July 16th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $685.29.

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.