Townsend & Associates Inc Invests $232,000 in Netflix, Inc. $NFLX

Townsend & Associates Inc bought a new stake in Netflix, Inc. (NASDAQ:NFLX) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 173 shares of the Internet television network’s stock, valued at approximately $232,000.

A number of other institutional investors have also added to or reduced their stakes in NFLX. Resurgent Financial Advisors LLC lifted its position in Netflix by 234.4% in the first quarter. Resurgent Financial Advisors LLC now owns 1,010 shares of the Internet television network’s stock worth $942,000 after purchasing an additional 708 shares during the period. MRA Advisory Group raised its stake in shares of Netflix by 28.4% in the 2nd quarter. MRA Advisory Group now owns 919 shares of the Internet television network’s stock valued at $1,231,000 after buying an additional 203 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of Netflix by 42.1% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 441,861 shares of the Internet television network’s stock worth $412,059,000 after acquiring an additional 130,946 shares during the period. Sava Infond d.o.o. boosted its position in shares of Netflix by 25.1% during the 2nd quarter. Sava Infond d.o.o. now owns 1,495 shares of the Internet television network’s stock valued at $2,002,000 after acquiring an additional 300 shares in the last quarter. Finally, McGlone Suttner Wealth Management Inc. boosted its position in shares of Netflix by 1.4% during the 2nd quarter. McGlone Suttner Wealth Management Inc. now owns 989 shares of the Internet television network’s stock valued at $1,324,000 after acquiring an additional 14 shares in the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Wedbush reissued an “outperform” rating on shares of Netflix in a research report on Wednesday. TD Cowen decreased their price target on Netflix from $1,450.00 to $1,425.00 and set a “buy” rating on the stock in a research note on Tuesday, October 7th. Robert W. Baird increased their price objective on Netflix from $1,300.00 to $1,500.00 and gave the stock an “outperform” rating in a research note on Monday, July 21st. Loop Capital raised Netflix from a “hold” rating to a “buy” rating and lifted their price objective for the company from $1,150.00 to $1,350.00 in a report on Wednesday, September 17th. Finally, Phillip Securities lowered shares of Netflix from a “hold” rating to a “strong sell” rating in a report on Monday, July 21st. Two analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $1,339.81.

Insider Buying and Selling

In other news, insider David A. Hyman sold 424 shares of the company’s stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $1,158.67, for a total transaction of $491,276.08. Following the transaction, the insider directly owned 31,610 shares in the company, valued at approximately $36,625,558.70. This represents a 1.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Reed Hastings sold 42,176 shares of the stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $1,171.92, for a total transaction of $49,426,897.92. Following the sale, the director directly owned 394 shares in the company, valued at $461,736.48. This trade represents a 99.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 104,100 shares of company stock valued at $122,710,980. Insiders own 1.37% of the company’s stock.

Netflix Price Performance

Shares of NFLX stock opened at $1,199.36 on Monday. Netflix, Inc. has a 52 week low of $736.23 and a 52 week high of $1,341.15. The stock has a market capitalization of $509.64 billion, a PE ratio of 51.10, a PEG ratio of 2.02 and a beta of 1.59. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.34 and a current ratio of 1.34. The stock’s fifty day moving average is $1,213.47 and its 200-day moving average is $1,179.41.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.07 by $0.12. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The business had revenue of $11.08 billion for the quarter, compared to the consensus estimate of $11.04 billion. During the same quarter in the prior year, the company earned $4.88 EPS. The firm’s quarterly revenue was up 15.9% on a year-over-year basis. Equities research analysts expect that Netflix, Inc. will post 24.58 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.