SMART Wealth LLC Takes Position in Netflix, Inc. (NASDAQ:NFLX)

SMART Wealth LLC bought a new stake in shares of Netflix, Inc. (NASDAQ:NFLX) during the 3rd quarter, HoldingsChannel.com reports. The firm bought 583 shares of the Internet television network’s stock, valued at approximately $414,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Denver PWM LLC acquired a new stake in Netflix during the second quarter valued at approximately $25,000. RPg Family Wealth Advisory LLC bought a new position in shares of Netflix during the 3rd quarter worth approximately $25,000. Proffitt & Goodson Inc. boosted its stake in Netflix by 380.0% in the 2nd quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock valued at $32,000 after buying an additional 38 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. grew its position in Netflix by 700.0% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock valued at $34,000 after acquiring an additional 42 shares during the period. Finally, MidAtlantic Capital Management Inc. acquired a new position in Netflix during the third quarter worth $37,000. Institutional investors own 80.93% of the company’s stock.

Netflix Trading Down 0.7 %

Shares of Netflix stock opened at $918.87 on Monday. Netflix, Inc. has a 12-month low of $461.86 and a 12-month high of $941.75. 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 business’s 50 day moving average is $814.02 and its 200-day moving average is $720.29. The stock has a market cap of $392.78 billion, a P/E ratio of 52.00, a P/E/G ratio of 1.80 and a beta of 1.27.

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

Analyst Upgrades and Downgrades

NFLX has been the topic of several analyst reports. Jefferies Financial Group upped their target price on shares of Netflix from $780.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Wells Fargo & Company upped their price objective on shares of Netflix from $758.00 to $797.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Morgan Stanley lifted their target price on shares of Netflix from $820.00 to $830.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Sanford C. Bernstein increased their price target on Netflix from $625.00 to $780.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. Finally, Wedbush reaffirmed an “outperform” rating and set a $950.00 price target (up from $800.00) on shares of Netflix in a report on Monday, November 18th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $787.85.

Insider Buying and Selling

In other news, Director Anne M. Sweeney sold 589 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $880.00, for a total value of $518,320.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Reed Hastings sold 48,363 shares of Netflix stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $896.60, for a total value of $43,362,265.80. Following the sale, the chairman now directly owns 114 shares of the company’s stock, valued at approximately $102,212.40. The trade was a 99.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 165,405 shares of company stock worth $129,623,487. Company 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.