Axxcess Wealth Management LLC Has $17.34 Million Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Axxcess Wealth Management LLC lifted its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 11.6% during the second quarter, Holdings Channel.com reports. The firm owned 25,700 shares of the Internet television network’s stock after acquiring an additional 2,681 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Netflix were worth $17,344,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of NFLX. Fairway Wealth LLC lifted its holdings in Netflix by 23.3% during the 2nd quarter. Fairway Wealth LLC now owns 249 shares of the Internet television network’s stock worth $168,000 after buying an additional 47 shares during the period. Abbot Financial Management Inc. increased its stake in shares of Netflix by 13.9% in the second quarter. Abbot Financial Management Inc. now owns 1,141 shares of the Internet television network’s stock valued at $770,000 after buying an additional 139 shares during the period. Perennial Investment Advisors LLC raised its position in shares of Netflix by 3.9% during the second quarter. Perennial Investment Advisors LLC now owns 1,358 shares of the Internet television network’s stock worth $916,000 after acquiring an additional 51 shares during the last quarter. Pitti Group Wealth Management LLC lifted its stake in shares of Netflix by 12.4% in the second quarter. Pitti Group Wealth Management LLC now owns 2,647 shares of the Internet television network’s stock worth $1,786,000 after acquiring an additional 291 shares during the period. Finally, Frisch Financial Group Inc. lifted its stake in shares of Netflix by 7.0% in the second quarter. Frisch Financial Group Inc. now owns 381 shares of the Internet television network’s stock worth $257,000 after acquiring an additional 25 shares during the period. Institutional investors own 80.93% of the company’s stock.

Netflix Trading Down 0.1 %

NASDAQ:NFLX opened at $696.50 on Tuesday. Netflix, Inc. has a 12 month low of $344.73 and a 12 month high of $711.33. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. The firm’s 50 day moving average is $660.22 and its 200 day moving average is $638.54. The stock has a market capitalization of $300.19 billion, a PE ratio of 48.33, a price-to-earnings-growth ratio of 1.40 and a beta of 1.26.

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

Insider Buying and Selling

In related news, insider David A. Hyman sold 20,656 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the sale, the insider now directly owns 31,610 shares in the company, valued at approximately $19,128,159.30. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Gregory K. Peters sold 1,278 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $614.44, for a total transaction of $785,254.32. Following the completion of the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at $8,043,019.60. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider David A. Hyman sold 20,656 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the completion of the transaction, the insider now owns 31,610 shares in the company, valued at $19,128,159.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 196,798 shares of company stock valued at $129,552,672. Company insiders own 1.76% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on NFLX shares. Jefferies Financial Group boosted their target price on shares of Netflix from $655.00 to $780.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Wedbush reaffirmed an “outperform” rating and set a $725.00 price objective on shares of Netflix in a research report on Monday, May 20th. UBS Group boosted their target price on shares of Netflix from $685.00 to $750.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Argus raised their price target on shares of Netflix from $660.00 to $767.00 and gave the stock a “buy” rating in a report on Tuesday, July 2nd. Finally, Citigroup boosted their target price on Netflix from $660.00 to $675.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat.com, Netflix currently has a consensus rating of “Moderate Buy” and an average price target of $685.29.

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.