Nachman Norwood & Parrott Inc acquired a new stake in shares of Netflix, Inc. (NASDAQ:NFLX) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 395 shares of the Internet television network’s stock, valued at approximately $198,000.
Several other large investors have also recently modified their holdings of the company. Alpha Cubed Investments LLC raised its stake in shares of Netflix by 7.1% during the third quarter. Alpha Cubed Investments LLC now owns 13,698 shares of the Internet television network’s stock valued at $6,849,000 after acquiring an additional 914 shares during the last quarter. Avantax Advisory Services Inc. raised its stake in shares of Netflix by 201.9% during the third quarter. Avantax Advisory Services Inc. now owns 14,943 shares of the Internet television network’s stock valued at $7,527,000 after acquiring an additional 9,994 shares during the last quarter. McKinley Carter Wealth Services Inc. bought a new position in shares of Netflix during the third quarter valued at about $3,457,000. Westside Investment Management Inc. increased its position in shares of Netflix by 43.8% during the third quarter. Westside Investment Management Inc. now owns 230 shares of the Internet television network’s stock valued at $115,000 after buying an additional 70 shares during the period. Finally, Stock Yards Bank & Trust Co. increased its position in shares of Netflix by 6.4% during the third quarter. Stock Yards Bank & Trust Co. now owns 1,670 shares of the Internet television network’s stock valued at $836,000 after buying an additional 100 shares during the period. 80.63% of the stock is owned by hedge funds and other institutional investors.
Shares of Netflix stock opened at $530.79 on Friday. The company has a market cap of $234.09 billion, a price-to-earnings ratio of 89.51, a price-to-earnings-growth ratio of 2.87 and a beta of 0.95. The company’s 50 day moving average is $507.55 and its 200 day moving average is $463.66. Netflix, Inc. has a twelve month low of $265.80 and a twelve month high of $575.37. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.64.
Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, July 16th. The Internet television network reported $1.59 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.81 by ($0.22). The company had revenue of $6.15 billion for the quarter, compared to the consensus estimate of $6.08 billion. Netflix had a net margin of 11.85% and a return on equity of 33.32%. During the same quarter last year, the company earned $0.60 EPS. Sell-side analysts expect that Netflix, Inc. will post 6.27 EPS for the current fiscal year.
In related news, General Counsel David A. Hyman sold 26,754 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $505.77, for a total transaction of $13,531,370.58. Following the transaction, the general counsel now owns 38,008 shares in the company, valued at $19,223,306.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Reed Hastings sold 43,239 shares of the stock in a transaction that occurred on Tuesday, July 21st. The stock was sold at an average price of $494.83, for a total transaction of $21,395,954.37. Following the completion of the transaction, the chief executive officer now owns 43,239 shares in the company, valued at $21,395,954.37. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 198,544 shares of company stock worth $97,503,985. 3.40% of the stock is owned by insiders.
Several brokerages recently issued reports on NFLX. Rosenblatt Securities reiterated a “neutral” rating and set a $400.00 price target (down previously from $440.00) on shares of Netflix in a research report on Friday, July 17th. Needham & Company LLC reiterated a “sell” rating on shares of Netflix in a research report on Friday, July 17th. Wells Fargo & Company reiterated a “hold” rating and set a $470.00 price target (up previously from $460.00) on shares of Netflix in a research report on Friday, July 17th. Morgan Stanley boosted their price target on shares of Netflix from $600.00 to $630.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Guggenheim boosted their price target on shares of Netflix from $530.00 to $570.00 and gave the company a “buy” rating in a research report on Monday, September 28th. Six equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty-seven have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $510.17.
Netflix, Inc provides Internet entertainment services. The company operates in three segments: Domestic streaming, International streaming, and Domestic DVD. 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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