Netflix, Inc. (NASDAQ:NFLX) Shares Acquired by Secure Asset Management LLC

Secure Asset Management LLC increased its stake in Netflix, Inc. (NASDAQ:NFLX) by 12.4% during the third quarter, HoldingsChannel.com reports. The fund owned 1,003 shares of the Internet television network’s stock after buying an additional 111 shares during the period. Secure Asset Management LLC’s holdings in Netflix were worth $711,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Denver PWM LLC acquired a new position in shares of Netflix in the 2nd quarter worth $25,000. Valued Wealth Advisors LLC grew its holdings in shares of Netflix by 80.0% in the 1st quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock worth $27,000 after acquiring an additional 20 shares during the last quarter. Proffitt & Goodson Inc. grew its holdings in shares of Netflix by 380.0% in the 2nd quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock worth $32,000 after acquiring an additional 38 shares during the last quarter. AlphaMark Advisors LLC grew its holdings in shares of Netflix by 642.9% in the 2nd quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock worth $35,000 after acquiring an additional 45 shares during the last quarter. Finally, Indiana Trust & Investment Management CO grew its holdings in shares of Netflix by 112.0% in the 1st quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock worth $32,000 after acquiring an additional 28 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Netflix Trading Up 11.1 %

Netflix stock opened at $763.89 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95. The business’s 50-day simple moving average is $696.38 and its 200-day simple moving average is $654.66. The firm has a market capitalization of $329.24 billion, a PE ratio of 53.01, a PEG 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 posted its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, topping analysts’ consensus estimates of $4.74 by $0.14. The business had revenue of $9.56 billion for the quarter, compared to analyst estimates of $9.53 billion. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The firm’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same period in the previous year, the company posted $3.29 earnings per share. Equities research analysts forecast that Netflix, Inc. will post 19.08 earnings per share for the current year.

Analysts Set New Price Targets

NFLX has been the subject of several recent analyst reports. Needham & Company LLC raised their target price on Netflix from $700.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday. Oppenheimer raised their target price on Netflix from $775.00 to $825.00 and gave the stock an “outperform” rating in a research report on Friday. Guggenheim raised their target price on Netflix from $735.00 to $810.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Wedbush raised their target price on Netflix from $725.00 to $775.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $840.00 target price (up previously from $800.00) on shares of Netflix in a research report on Friday. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $739.38.

Insider Activity at Netflix

In related news, Chairman Reed Hastings sold 25,599 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $631.43, for a total transaction of $16,163,976.57. Following the transaction, the chairman now directly owns 57 shares in the company, valued at $35,991.51. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider David A. Hyman sold 20,656 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 31,610 shares in the company, valued at $19,128,159.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Reed Hastings sold 25,599 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $631.43, for a total value of $16,163,976.57. Following the transaction, the chairman now owns 57 shares in the company, valued at $35,991.51. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 225,167 shares of company stock worth $150,492,460 over the last three months. Company insiders own 1.76% of the company’s stock.

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.