Bay Harbor Wealth Management LLC lifted its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 600.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 70 shares of the Internet television network’s stock after acquiring an additional 60 shares during the quarter. Bay Harbor Wealth Management LLC’s holdings in Netflix were worth $35,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in NFLX. First Midwest Bank Trust Division increased its holdings in Netflix by 2.5% in the third quarter. First Midwest Bank Trust Division now owns 7,194 shares of the Internet television network’s stock valued at $3,597,000 after buying an additional 174 shares during the last quarter. BKD Wealth Advisors LLC grew its holdings in shares of Netflix by 14.6% during the 2nd quarter. BKD Wealth Advisors LLC now owns 1,217 shares of the Internet television network’s stock valued at $554,000 after acquiring an additional 155 shares in the last quarter. Chesley Taft & Associates LLC bought a new stake in Netflix in the second quarter worth $219,000. TCI Wealth Advisors Inc. boosted its holdings in Netflix by 24.1% during the second quarter. TCI Wealth Advisors Inc. now owns 170 shares of the Internet television network’s stock valued at $77,000 after acquiring an additional 33 shares during the period. Finally, GWM Advisors LLC boosted its holdings in Netflix by 43.0% during the second quarter. GWM Advisors LLC now owns 4,711 shares of the Internet television network’s stock valued at $2,143,000 after acquiring an additional 1,416 shares during the period. 80.63% of the stock is currently owned by institutional investors and hedge funds.
Several research firms recently issued reports on NFLX. Deutsche Bank Aktiengesellschaft increased their price target on shares of Netflix from $500.00 to $525.00 and gave the stock a “buy” rating in a research report on Friday, July 17th. UBS Group increased their price target on shares of Netflix from $575.00 to $670.00 and gave the company a “buy” rating in a research note on Friday, October 16th. Rosenblatt Securities reissued a “neutral” rating and set a $400.00 price target (down from $440.00) on shares of Netflix in a research note on Friday, July 17th. Cowen raised their price objective on shares of Netflix from $535.00 to $550.00 and gave the company an “outperform” rating in a research note on Friday, July 17th. Finally, CSFB reaffirmed a “hold” rating and issued a $525.00 price objective on shares of Netflix in a research note on Monday, October 5th. Five analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-six have assigned a buy rating to the stock. Netflix currently has an average rating of “Buy” and a consensus price target of $526.74.
NASDAQ NFLX opened at $504.21 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.64. The company has a market capitalization of $222.76 billion, a P/E ratio of 81.32, a P/E/G ratio of 2.81 and a beta of 0.95. Netflix, Inc. has a 12-month low of $281.14 and a 12-month high of $575.37. The firm has a 50-day moving average price of $501.89 and a two-hundred day moving average price of $472.54.
Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Tuesday, October 20th. The Internet television network reported $1.74 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.13 by ($0.39). The business had revenue of $6.44 billion during the quarter, compared to the consensus estimate of $6.38 billion. Netflix had a net margin of 11.85% and a return on equity of 33.32%. The business’s revenue for the quarter was up 22.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.47 EPS. Equities analysts expect that Netflix, Inc. will post 6.3 EPS for the current year.
In other news, CEO Reed Hastings sold 177,681 shares of the business’s stock in a transaction that occurred on Tuesday, October 20th. The shares were sold at an average price of $527.86, for a total value of $93,790,692.66. Following the completion of the transaction, the chief executive officer now directly owns 32,739 shares in the company, valued at approximately $17,281,608.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Richard N. Barton sold 4,907 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $550.00, for a total transaction of $2,698,850.00. Following the completion of the transaction, the director now owns 8,237 shares of the company’s stock, valued at $4,530,350. The disclosure for this sale can be found here. Insiders sold a total of 331,505 shares of company stock valued at $169,179,594 in the last three months. Insiders own 3.40% of the company’s stock.
Netflix, Inc provides subscription streaming entertainment service. It offers TV series, documentaries, and feature films across various genres and languages. The company provides members the ability to receive streaming content through a host of Internet-connected screens, including TVs, digital video players, television set-top boxes, and mobile devices.
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