Empirical Asset Management LLC Acquires New Stake in Netflix, Inc. (NASDAQ:NFLX)

Empirical Asset Management LLC bought a new position in shares of Netflix, Inc. (NASDAQ:NFLX) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,151 shares of the Internet television network’s stock, valued at approximately $816,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Heartland Bank & Trust Co lifted its holdings in shares of Netflix by 0.9% in the second quarter. Heartland Bank & Trust Co now owns 1,770 shares of the Internet television network’s stock valued at $1,195,000 after buying an additional 15 shares during the period. Meritas Wealth Management LLC boosted its position in shares of Netflix by 2.9% during the 3rd quarter. Meritas Wealth Management LLC now owns 573 shares of the Internet television network’s stock valued at $406,000 after purchasing an additional 16 shares in the last quarter. Obermeyer Wood Investment Counsel Lllp grew its stake in shares of Netflix by 2.8% in the 1st quarter. Obermeyer Wood Investment Counsel Lllp now owns 623 shares of the Internet television network’s stock worth $378,000 after purchasing an additional 17 shares during the last quarter. Private Portfolio Partners LLC raised its holdings in shares of Netflix by 1.7% in the 1st quarter. Private Portfolio Partners LLC now owns 1,042 shares of the Internet television network’s stock worth $633,000 after purchasing an additional 17 shares in the last quarter. Finally, FAS Wealth Partners Inc. lifted its stake in Netflix by 1.5% during the second quarter. FAS Wealth Partners Inc. now owns 1,164 shares of the Internet television network’s stock valued at $786,000 after purchasing an additional 17 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Netflix

In related news, Chairman Reed Hastings sold 25,599 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $631.43, for a total transaction of $16,163,976.57. Following the transaction, the chairman now owns 57 shares of the company’s stock, valued at approximately $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 through this hyperlink. In related news, Chairman Reed Hastings sold 25,599 shares of Netflix 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 sale, the chairman now directly owns 57 shares of the company’s stock, valued at $35,991.51. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Leslie J. Kilgore sold 383 shares of the company’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $730.00, for a total value of $279,590.00. Following the completion of the transaction, the director now directly owns 35,262 shares of the company’s stock, valued at approximately $25,741,260. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 225,167 shares of company stock worth $150,492,460 over the last three months. 1.76% of the stock is currently owned by insiders.

Netflix Stock Performance

NASDAQ:NFLX opened at $713.00 on Tuesday. The firm has a market capitalization of $307.30 billion, a PE ratio of 49.48, a PEG ratio of 1.49 and a beta of 1.26. Netflix, Inc. has a 1 year low of $344.73 and a 1 year high of $736.00. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. The firm’s fifty day simple moving average is $688.89 and its 200 day simple moving average is $652.34.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.74 by $0.14. The company had revenue of $9.56 billion for the quarter, compared to the consensus estimate of $9.53 billion. Netflix had a return on equity of 32.93% and a net margin of 19.54%. During the same period last year, the business posted $3.29 earnings per share. The firm’s revenue was up 16.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Netflix, Inc. will post 19.08 EPS for the current year.

Analyst Ratings Changes

NFLX has been the topic of several recent research reports. Guggenheim lifted their price target on shares of Netflix from $735.00 to $810.00 and gave the stock a “buy” rating in a research report on Friday. Rosenblatt Securities restated a “neutral” rating and issued a $635.00 target price on shares of Netflix in a report on Friday, September 20th. Morgan Stanley upped their target price on Netflix from $780.00 to $820.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. TD Cowen increased their price target on Netflix from $775.00 to $820.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Finally, JPMorgan Chase & Co. restated an “overweight” rating and set a $750.00 price objective on shares of Netflix in a report on Tuesday, October 8th. Two investment 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. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $702.79.

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.