Smith Group Asset Management LLC Has $24.12 Million Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Smith Group Asset Management LLC grew its stake in Netflix, Inc. (NASDAQ:NFLX) by 2.1% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 34,005 shares of the Internet television network’s stock after buying an additional 713 shares during the period. Netflix makes up 2.0% of Smith Group Asset Management LLC’s investment portfolio, making the stock its 21st biggest position. Smith Group Asset Management LLC’s holdings in Netflix were worth $24,119,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Worth Financial Advisory Group LLC increased its stake in shares of Netflix by 31.4% in the third quarter. Worth Financial Advisory Group LLC now owns 594 shares of the Internet television network’s stock valued at $421,000 after buying an additional 142 shares during the period. Pallas Capital Advisors LLC boosted its position in shares of Netflix by 10.3% during the 3rd quarter. Pallas Capital Advisors LLC now owns 3,866 shares of the Internet television network’s stock valued at $2,917,000 after purchasing an additional 361 shares in the last quarter. Orrstown Financial Services Inc. boosted its position in shares of Netflix by 23.5% during the 3rd quarter. Orrstown Financial Services Inc. now owns 1,004 shares of the Internet television network’s stock valued at $712,000 after purchasing an additional 191 shares in the last quarter. TCI Wealth Advisors Inc. boosted its position in shares of Netflix by 45.1% during the 3rd quarter. TCI Wealth Advisors Inc. now owns 689 shares of the Internet television network’s stock valued at $489,000 after purchasing an additional 214 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC boosted its position in shares of Netflix by 43.5% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,457 shares of the Internet television network’s stock valued at $1,033,000 after purchasing an additional 442 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Stock Performance

Shares of NFLX opened at $749.12 on Tuesday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $320.22 billion, a price-to-earnings ratio of 42.40, a PEG ratio of 1.45 and a beta of 1.26. The stock has a 50 day moving average of $707.88 and a 200 day moving average of $660.73. Netflix, Inc. has a 12 month low of $399.41 and a 12 month high of $773.00.

Insider Activity at Netflix

In related news, insider David A. Hyman sold 20,656 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was 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 directly owns 31,610 shares of the company’s stock, valued at approximately $19,128,159.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Netflix news, Director Richard N. Barton sold 5,698 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $756.00, for a total value of $4,307,688.00. Following the completion of the sale, the director now directly owns 246 shares of the company’s stock, valued at $185,976. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider David A. Hyman sold 20,656 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total value of $12,499,565.28. Following the completion of the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at $19,128,159.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 235,409 shares of company stock valued at $158,213,518. 1.76% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NFLX. StockNews.com upgraded Netflix from a “hold” rating to a “buy” rating in a research report on Tuesday, September 24th. Sanford C. Bernstein upped their target price on Netflix from $625.00 to $780.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. Loop Capital upped their target price on Netflix from $750.00 to $800.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Pivotal Research upped their target price on Netflix from $900.00 to $925.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Finally, Evercore ISI upped their target price on Netflix from $750.00 to $775.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. 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’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $747.70.

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.