Naviter Wealth LLC Has $1.97 Million Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Naviter Wealth LLC trimmed its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 1.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,777 shares of the Internet television network’s stock after selling 30 shares during the quarter. Naviter Wealth LLC’s holdings in Netflix were worth $1,970,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in NFLX. Denver PWM LLC bought a new position in Netflix during the 2nd quarter worth approximately $25,000. Valued Wealth Advisors LLC boosted its stake in Netflix by 80.0% during the first 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 in the last quarter. Scarborough Advisors LLC acquired a new stake in shares of Netflix in the 4th quarter valued at about $32,000. Indiana Trust & Investment Management CO increased its position in Netflix by 112.0% in the 1st quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock valued at $32,000 after buying an additional 28 shares in the last quarter. Finally, Proffitt & Goodson Inc. raised its stake in Netflix by 380.0% during the 2nd quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock worth $32,000 after buying an additional 38 shares during the period. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Trading Down 1.6 %

Shares of NFLX stock traded down $10.90 on Thursday, hitting $691.10. 691,830 shares of the company’s stock traded hands, compared to its average volume of 3,621,515. The stock has a market capitalization of $297.86 billion, a price-to-earnings ratio of 47.89, a P/E/G ratio of 1.49 and a beta of 1.26. The company’s fifty day simple moving average is $692.63 and its 200 day simple moving average is $653.38. Netflix, Inc. has a one year low of $344.73 and a one year high of $736.00. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.74 by $0.14. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The firm had revenue of $9.56 billion for the quarter, compared to analysts’ expectations of $9.53 billion. During the same period last year, the firm earned $3.29 earnings per share. The company’s revenue for the quarter was up 16.8% compared to the same quarter last year. Equities analysts forecast that Netflix, Inc. will post 19.08 EPS for the current year.

Insider Activity at Netflix

In other news, CFO Spencer Adam Neumann sold 433 shares of Netflix stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $626.19, for a total value of $271,140.27. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Netflix news, Director Leslie J. Kilgore sold 383 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 35,262 shares in the company, valued at $25,741,260. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Spencer Adam Neumann sold 433 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $626.19, for a total value of $271,140.27. The disclosure for this sale can be found here. Insiders sold 225,167 shares of company stock worth $150,492,460 in the last three months. 1.76% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on NFLX shares. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $750.00 target price on shares of Netflix in a report on Tuesday, October 8th. TD Cowen lifted their target price on Netflix from $775.00 to $820.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Jefferies Financial Group increased their price target on Netflix from $655.00 to $780.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Netflix from $590.00 to $650.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Finally, Evercore ISI raised their price target on shares of Netflix from $710.00 to $750.00 and gave the company an “outperform” rating in a research report on Tuesday, August 27th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $704.26.

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.