Activest Wealth Management Raises Stake in Netflix, Inc. (NASDAQ:NFLX)

Activest Wealth Management grew its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 5.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 420 shares of the Internet television network’s stock after acquiring an additional 20 shares during the period. Activest Wealth Management’s holdings in Netflix were worth $298,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Denver PWM LLC purchased a new position in Netflix during the second quarter worth $25,000. Proffitt & Goodson Inc. lifted its stake in shares of Netflix by 380.0% during the second quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock valued at $32,000 after buying an additional 38 shares during the period. E Fund Management Hong Kong Co. Ltd. boosted its position in Netflix by 700.0% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after acquiring an additional 42 shares during the last quarter. AlphaMark Advisors LLC raised its holdings in Netflix by 642.9% in the 2nd quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock valued at $35,000 after acquiring an additional 45 shares during the last quarter. Finally, MidAtlantic Capital Management Inc. acquired a new stake in shares of Netflix during the third quarter worth $37,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Analyst Ratings Changes

NFLX has been the topic of several research analyst reports. Jefferies Financial Group raised their target price on shares of Netflix from $780.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Canaccord Genuity Group lifted their target price on shares of Netflix from $750.00 to $760.00 and gave the company a “hold” rating in a report on Friday, October 18th. Macquarie restated an “outperform” rating and issued a $795.00 price target on shares of Netflix in a report on Friday, October 18th. Needham & Company LLC lifted their price objective on shares of Netflix from $700.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Finally, Wolfe Research reissued an “outperform” rating on shares of Netflix in a research report on Friday, October 18th. Two equities research 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, the stock presently has an average rating of “Moderate Buy” and an average price target of $764.82.

Insider Buying and Selling at Netflix

In other news, Chairman Reed Hastings sold 25,074 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $680.92, for a total value of $17,073,388.08. Following the sale, the chairman now directly owns 85 shares in the company, valued at $57,878.20. The trade was a 99.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider David A. Hyman sold 267 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total value of $204,433.89. Following the transaction, the insider now owns 31,610 shares of the company’s stock, valued at approximately $24,202,828.70. The trade was a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 185,866 shares of company stock valued at $133,393,921. 1.76% of the stock is currently owned by corporate insiders.

Netflix Trading Down 0.3 %

NFLX traded down $2.33 during mid-day trading on Thursday, hitting $881.52. The stock had a trading volume of 414,710 shares, compared to its average volume of 3,649,486. Netflix, Inc. has a 1-year low of $445.73 and a 1-year high of $890.60. The firm has a market capitalization of $376.81 billion, a price-to-earnings ratio of 50.02, a price-to-earnings-growth ratio of 1.68 and a beta of 1.25. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. The stock’s fifty day simple moving average is $747.20 and its 200-day simple moving average is $686.80.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.09 by $0.31. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The firm had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.77 billion. As a group, research analysts forecast that Netflix, Inc. will post 19.78 EPS for the current fiscal year.

About Netflix

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.