WT Wealth Management acquired a new position in shares of Netflix, Inc. (NASDAQ:NFLX) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,011 shares of the Internet television network’s stock, valued at approximately $270,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. First Allied Advisory Services Inc. increased its holdings in Netflix by 15.2% in the third quarter. First Allied Advisory Services Inc. now owns 26,628 shares of the Internet television network’s stock worth $7,124,000 after purchasing an additional 3,513 shares in the last quarter. Lyell Wealth Management LP increased its position in Netflix by 15.3% during the 3rd quarter. Lyell Wealth Management LP now owns 8,100 shares of the Internet television network’s stock valued at $2,168,000 after buying an additional 1,075 shares in the last quarter. Tiedemann Advisors LLC increased its position in Netflix by 7.3% during the 3rd quarter. Tiedemann Advisors LLC now owns 6,344 shares of the Internet television network’s stock valued at $1,698,000 after buying an additional 434 shares in the last quarter. Insight Wealth Strategies LLC increased its position in Netflix by 12.5% during the 3rd quarter. Insight Wealth Strategies LLC now owns 3,439 shares of the Internet television network’s stock valued at $920,000 after buying an additional 382 shares in the last quarter. Finally, Northwestern Mutual Investment Management Company LLC increased its position in Netflix by 0.5% during the 3rd quarter. Northwestern Mutual Investment Management Company LLC now owns 16,674 shares of the Internet television network’s stock valued at $4,462,000 after buying an additional 91 shares in the last quarter. Institutional investors own 79.22% of the company’s stock.

In other Netflix news, CEO Reed Hastings sold 40,061 shares of Netflix stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $275.64, for a total value of $11,042,414.04. Following the completion of the sale, the chief executive officer now directly owns 40,061 shares in the company, valued at $11,042,414.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 135,702 shares of company stock valued at $38,290,015 over the last quarter. Corporate insiders own 4.29% of the company’s stock.

Shares of NFLX traded up $6.51 during midday trading on Thursday, hitting $289.62. The stock had a trading volume of 6,527,526 shares, compared to its average volume of 8,150,677. Netflix, Inc. has a fifty-two week low of $231.23 and a fifty-two week high of $385.99. The business has a 50-day simple moving average of $278.12 and a two-hundred day simple moving average of $321.34. The firm has a market cap of $128.80 billion, a P/E ratio of 108.07, a price-to-earnings-growth ratio of 2.94 and a beta of 1.25. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 1.81.

Netflix (NASDAQ:NFLX) last announced its earnings results on Wednesday, October 16th. The Internet television network reported $1.47 EPS for the quarter, topping the consensus estimate of $1.05 by $0.42. The company had revenue of $5.25 billion during the quarter, compared to analysts’ expectations of $5.25 billion. Netflix had a net margin of 7.49% and a return on equity of 23.65%. The business’s revenue for the quarter was up 31.2% on a year-over-year basis. During the same period last year, the company posted $0.89 earnings per share. On average, analysts expect that Netflix, Inc. will post 3.33 earnings per share for the current fiscal year.

NFLX has been the subject of a number of analyst reports. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $425.00 price objective on shares of Netflix in a research report on Thursday, October 17th. KeyCorp reaffirmed a “hold” rating on shares of Netflix in a research note on Tuesday, September 24th. Rosenblatt Securities lowered their price target on Netflix from $330.00 to $265.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Goldman Sachs Group reaffirmed a “buy” rating and issued a $400.00 price target on shares of Netflix in a research note on Thursday, October 17th. Finally, Wedbush reaffirmed an “underperform” rating and issued a $188.00 price target on shares of Netflix in a research note on Thursday, October 17th. Four equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $369.54.

Netflix Profile

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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Institutional Ownership by Quarter for Netflix (NASDAQ:NFLX)

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