553 Shares in Netflix, Inc. (NASDAQ:NFLX) Acquired by Summit Financial Strategies Inc.

Summit Financial Strategies Inc. acquired a new stake in Netflix, Inc. (NASDAQ:NFLX) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 553 shares of the Internet television network’s stock, valued at approximately $392,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Heartland Bank & Trust Co lifted its position in shares of Netflix by 0.9% during 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 buying an additional 15 shares during the last quarter. Meritas Wealth Management LLC lifted its position in shares of Netflix by 2.9% during the 3rd quarter. Meritas Wealth Management LLC now owns 573 shares of the Internet television network’s stock valued at $406,000 after buying an additional 16 shares during the last quarter. Stage Harbor Financial LLC lifted its position in shares of Netflix by 4.8% during the 3rd quarter. Stage Harbor Financial LLC now owns 346 shares of the Internet television network’s stock valued at $250,000 after buying an additional 16 shares during the last quarter. Obermeyer Wood Investment Counsel Lllp lifted its position in shares of Netflix by 2.8% during the 1st quarter. Obermeyer Wood Investment Counsel Lllp now owns 623 shares of the Internet television network’s stock valued at $378,000 after buying an additional 17 shares during the last quarter. Finally, Private Portfolio Partners LLC lifted its position in shares of Netflix by 1.7% during the 1st quarter. Private Portfolio Partners LLC now owns 1,042 shares of the Internet television network’s stock valued at $633,000 after buying an additional 17 shares during the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Netflix

In related news, Director Leslie J. Kilgore sold 383 shares of Netflix stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $730.00, for a total transaction of $279,590.00. Following the transaction, the director now directly owns 35,262 shares in the company, valued at approximately $25,741,260. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Leslie J. Kilgore sold 383 shares of Netflix stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $730.00, for a total transaction of $279,590.00. Following the transaction, the director now directly owns 35,262 shares in the company, valued at approximately $25,741,260. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gregory K. Peters sold 1,278 shares of Netflix stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $614.44, for a total value of $785,254.32. Following the transaction, the chief executive officer now owns 13,090 shares in the company, valued at $8,043,019.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 225,167 shares of company stock worth $150,492,460. Corporate insiders own 1.76% of the company’s stock.

Analyst Ratings Changes

NFLX has been the topic of a number of analyst reports. Citigroup boosted their price objective on Netflix from $660.00 to $675.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $750.00 price objective on shares of Netflix in a research note on Tuesday, October 8th. StockNews.com upgraded Netflix from a “hold” rating to a “buy” rating in a research note on Tuesday, September 24th. KeyCorp boosted their price objective on Netflix from $735.00 to $760.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. Finally, Oppenheimer boosted their price objective on Netflix from $725.00 to $775.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $704.26.

Netflix Stock Performance

Shares of NFLX stock traded down $10.41 on Thursday, reaching $691.59. The stock had a trading volume of 2,033,927 shares, compared to its average volume of 3,628,192. The stock has a market cap of $298.08 billion, a P/E ratio of 48.07, a price-to-earnings-growth ratio of 1.49 and a beta of 1.26. Netflix, Inc. has a 1 year low of $344.73 and a 1 year high of $736.00. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95. The company has a 50 day simple moving average of $692.63 and a 200 day simple moving average of $653.38.

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