Net Worth Advisory Group Acquires New Position in Netflix, Inc. (NASDAQ:NFLX)

Net Worth Advisory Group bought a new position in Netflix, Inc. (NASDAQ:NFLX) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,095 shares of the Internet television network’s stock, valued at approximately $777,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Netflix by 0.4% during the first quarter. Vanguard Group Inc. now owns 36,587,911 shares of the Internet television network’s stock valued at $22,220,936,000 after purchasing an additional 149,341 shares in the last quarter. Jennison Associates LLC raised its position in Netflix by 17.0% in the 1st quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock worth $3,875,655,000 after buying an additional 929,193 shares during the last quarter. Baillie Gifford & Co. lifted its stake in Netflix by 2.3% during the 2nd quarter. Baillie Gifford & Co. now owns 4,762,069 shares of the Internet television network’s stock valued at $3,213,825,000 after acquiring an additional 106,756 shares during the period. Legal & General Group Plc boosted its holdings in shares of Netflix by 3.1% during the 2nd quarter. Legal & General Group Plc now owns 3,449,114 shares of the Internet television network’s stock valued at $2,327,738,000 after acquiring an additional 104,332 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Netflix by 2.6% in the second quarter. Bank of New York Mellon Corp now owns 3,281,306 shares of the Internet television network’s stock worth $2,214,488,000 after acquiring an additional 83,762 shares during the period. Institutional investors own 80.93% of the company’s stock.

Netflix Stock Performance

NASDAQ:NFLX opened at $763.89 on Friday. 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. The stock’s fifty day moving average is $696.38 and its 200 day moving average is $654.66. Netflix, Inc. has a fifty-two week low of $392.26 and a fifty-two week high of $766.28. 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 earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, beating the consensus estimate of $4.74 by $0.14. The business had revenue of $9.56 billion for the quarter, compared to the consensus estimate of $9.53 billion. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The business’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.29 earnings per share. On average, sell-side analysts anticipate that Netflix, Inc. will post 19.08 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on NFLX shares. Piper Sandler restated an “overweight” rating and issued a $840.00 target price (up previously from $800.00) on shares of Netflix in a report on Friday. Deutsche Bank Aktiengesellschaft raised their price target on Netflix from $590.00 to $650.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Wolfe Research reiterated an “outperform” rating on shares of Netflix in a research report on Friday. Barclays reissued an “underweight” rating and issued a $550.00 target price on shares of Netflix in a research report on Friday. Finally, Rosenblatt Securities upped their price target on shares of Netflix from $635.00 to $680.00 and gave the company a “neutral” rating in a research report on Friday. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Netflix presently has an average rating of “Moderate Buy” and a consensus price target of $739.38.

Insider Activity at Netflix

In other Netflix news, Chairman Reed Hastings sold 25,599 shares of the firm’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 completion of the sale, the chairman now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider David A. Hyman sold 20,656 shares of Netflix stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the completion of the sale, the insider now owns 31,610 shares in the company, valued at $19,128,159.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Reed Hastings sold 25,599 shares of the company’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 completion of 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. In the last ninety days, insiders have sold 225,167 shares of company stock worth $150,492,460. Insiders own 1.76% of the company’s stock.

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.