Cassaday & Co Wealth Management LLC Grows Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Cassaday & Co Wealth Management LLC increased its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 4.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,039 shares of the Internet television network’s stock after buying an additional 131 shares during the quarter. Cassaday & Co Wealth Management LLC’s holdings in Netflix were worth $2,155,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in NFLX. International Assets Investment Management LLC raised its position in Netflix by 116,620.0% in the third quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock valued at $4,080,522,000 after purchasing an additional 5,748,200 shares during the period. GQG Partners LLC purchased a new stake in Netflix in the first quarter valued at approximately $1,450,476,000. Assenagon Asset Management S.A. raised its position in Netflix by 154.7% in the third quarter. Assenagon Asset Management S.A. now owns 1,058,431 shares of the Internet television network’s stock valued at $750,713,000 after purchasing an additional 642,920 shares during the period. Jericho Capital Asset Management L.P. purchased a new stake in Netflix in the first quarter valued at approximately $372,293,000. Finally, Swedbank AB purchased a new stake in Netflix in the first quarter valued at approximately $216,538,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on NFLX shares. Evercore ISI boosted their target price on Netflix from $750.00 to $775.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. TD Cowen boosted their target price on Netflix from $820.00 to $835.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Bank of America boosted their target price on Netflix from $740.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Needham & Company LLC increased their price objective on Netflix from $700.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Finally, Canaccord Genuity Group boosted their target price on Netflix from $750.00 to $760.00 and gave the stock a “hold” rating in a research note on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat, Netflix has an average rating of “Moderate Buy” and an average target price of $748.15.

Insider Transactions at Netflix

In other news, Director Timothy M. Haley sold 647 shares of Netflix stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $800.19, for a total transaction of $517,722.93. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider David A. Hyman sold 267 shares of Netflix 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 sale, the insider now owns 31,610 shares in the company, valued at $24,202,828.70. This trade represents a 0.84 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 205,084 shares of company stock worth $146,747,101. Corporate insiders own 1.76% of the company’s stock.

Netflix Stock Down 1.6 %

NFLX opened at $823.96 on Monday. The business’s 50-day simple moving average is $735.77 and its 200-day simple moving average is $681.37. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13. Netflix, Inc. has a one year low of $445.73 and a one year high of $841.00. The stock has a market capitalization of $352.21 billion, a P/E ratio of 46.63, a price-to-earnings-growth ratio of 1.59 and a beta of 1.25.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, topping 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 business had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.77 billion. Analysts anticipate that Netflix, Inc. will post 19.78 EPS for the current year.

Netflix Company 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.