Naviter Wealth LLC Has $1.97 Million Position in Netflix, Inc. (NASDAQ:NFLX)

Naviter Wealth LLC decreased its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 1.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,777 shares of the Internet television network’s stock after selling 30 shares during the quarter. Naviter Wealth LLC’s holdings in Netflix were worth $1,970,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Denver PWM LLC acquired a new stake in Netflix in the second quarter worth about $25,000. Valued Wealth Advisors LLC grew its position in shares of Netflix by 80.0% during the 1st quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock worth $27,000 after buying an additional 20 shares during the period. Scarborough Advisors LLC bought a new stake in shares of Netflix during the fourth quarter worth approximately $32,000. Indiana Trust & Investment Management CO lifted its holdings in Netflix by 112.0% in the first quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock valued at $32,000 after buying an additional 28 shares during the period. Finally, Proffitt & Goodson Inc. boosted its stake in Netflix by 380.0% in the second quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock valued at $32,000 after acquiring an additional 38 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NFLX has been the topic of a number of analyst reports. Sanford C. Bernstein increased their price target on Netflix from $600.00 to $625.00 and gave the company a “market perform” rating in a research note on Friday, July 19th. Bank of America increased their target price on Netflix from $700.00 to $740.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Loop Capital raised their target price on Netflix from $750.00 to $800.00 and gave the stock a “buy” rating in a report on Wednesday. Barclays reaffirmed an “underweight” rating and issued a $550.00 price target on shares of Netflix in a research note on Monday, October 7th. Finally, Macquarie boosted their price objective on shares of Netflix from $695.00 to $795.00 and gave the company an “outperform” rating in a report on Friday, October 11th. 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $704.26.

Netflix Stock Performance

NFLX traded down $10.90 during trading on Thursday, hitting $691.10. The stock had a trading volume of 691,830 shares, compared to its average volume of 3,621,515. 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 company has a 50 day moving average price of $692.63 and a 200-day moving average price of $653.38. Netflix, Inc. has a one year low of $344.73 and a one year high of $736.00. The firm has a market cap of $297.86 billion, a price-to-earnings ratio of 47.89, a P/E/G ratio of 1.49 and a beta of 1.26.

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

Insider Activity

In other news, CFO Spencer Adam Neumann sold 433 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $626.19, for a total transaction of $271,140.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Chairman Reed Hastings sold 45,290 shares of Netflix stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $706.16, for a total value of $31,981,986.40. Following the transaction, the chairman now directly owns 85 shares of the company’s stock, valued at $60,023.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Spencer Adam Neumann sold 433 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $626.19, for a total value of $271,140.27. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 225,167 shares of company stock worth $150,492,460. Corporate insiders own 1.76% of the company’s stock.

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.