Whitaker Myers Wealth Managers LTD. Increases Position in Netflix, Inc. (NASDAQ:NFLX)

Whitaker Myers Wealth Managers LTD. lifted its position in Netflix, Inc. (NASDAQ:NFLX) by 56.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 564 shares of the Internet television network’s stock after purchasing an additional 204 shares during the quarter. Whitaker Myers Wealth Managers LTD.’s holdings in Netflix were worth $400,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Netflix by 0.4% during the first quarter. Vanguard Group Inc. now owns 36,587,911 shares of the Internet television network’s stock valued at $22,220,936,000 after purchasing an additional 149,341 shares in the last quarter. Jennison Associates LLC lifted its holdings in Netflix by 17.0% in the first quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock valued at $3,875,655,000 after acquiring an additional 929,193 shares during the last quarter. Baillie Gifford & Co. grew its position in Netflix by 2.3% in the second quarter. Baillie Gifford & Co. now owns 4,762,069 shares of the Internet television network’s stock worth $3,213,825,000 after acquiring an additional 106,756 shares during the period. Legal & General Group Plc raised its position in Netflix by 3.1% in the second quarter. Legal & General Group Plc now owns 3,449,114 shares of the Internet television network’s stock valued at $2,327,738,000 after purchasing an additional 104,332 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in Netflix by 2.6% in the second quarter. Bank of New York Mellon Corp now owns 3,281,306 shares of the Internet television network’s stock valued at $2,214,488,000 after buying an additional 83,762 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Netflix Stock Performance

Shares of NFLX stock opened at $763.89 on Friday. The stock’s 50-day moving average price is $696.38 and its 200 day moving average price is $654.94. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $329.24 billion, a PE ratio of 53.01, a price-to-earnings-growth ratio of 1.49 and a beta of 1.26. Netflix, Inc. has a 52-week low of $392.26 and a 52-week high of $766.28.

Netflix (NASDAQ:NFLX) last released 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 return on equity of 32.93% and a net margin of 19.54%. The business had revenue of $9.56 billion for the quarter, compared to analyst estimates of $9.53 billion. During the same quarter in the previous year, the company posted $3.29 earnings per share. The company’s revenue for the quarter was up 16.8% compared to the same quarter last year. As a group, equities research analysts forecast that Netflix, Inc. will post 19.08 EPS for the current year.

Insider Activity at Netflix

In other news, insider David A. Hyman sold 20,656 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total value of $12,499,565.28. Following the completion of the sale, the insider now owns 31,610 shares in the company, valued at approximately $19,128,159.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider David A. Hyman sold 13,791 shares of Netflix stock in a transaction that occurred on Tuesday, August 20th. The stock was 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 in the company, valued at $22,127,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider David A. Hyman sold 20,656 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total value of $12,499,565.28. Following the completion of the transaction, the insider now owns 31,610 shares of the company’s stock, valued at $19,128,159.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 225,167 shares of company stock worth $150,492,460 in the last three months. Insiders own 1.76% of the company’s stock.

Analysts Set New Price Targets

NFLX has been the subject of a number of recent analyst reports. KeyCorp lifted their price target on shares of Netflix from $760.00 to $785.00 and gave the company an “overweight” rating in a research report on Friday. Deutsche Bank Aktiengesellschaft increased their target price on shares of Netflix from $590.00 to $650.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Wedbush raised their target price on shares of Netflix from $725.00 to $775.00 and gave the company an “overweight” rating in a report on Thursday. StockNews.com upgraded shares of Netflix from a “hold” rating to a “buy” rating in a report on Tuesday, September 24th. Finally, Bank of America raised their price objective on shares of Netflix from $740.00 to $800.00 and gave the company a “buy” rating in a report on Friday. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat, Netflix has an average rating of “Moderate Buy” and an average target price of $747.70.

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.