Adero Partners LLC Raises Position in Netflix, Inc. (NASDAQ:NFLX)

Adero Partners LLC grew its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 2.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 860 shares of the Internet television network’s stock after purchasing an additional 21 shares during the quarter. Adero Partners LLC’s holdings in Netflix were worth $610,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Denver PWM LLC purchased a new position in shares of Netflix during the 2nd quarter worth $25,000. Proffitt & Goodson Inc. increased its holdings in shares of 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 last quarter. E Fund Management Hong Kong Co. Ltd. increased its holdings in shares of Netflix by 700.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after buying an additional 42 shares during the last quarter. AlphaMark Advisors LLC increased its holdings in shares of Netflix by 642.9% during the 2nd quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock worth $35,000 after buying an additional 45 shares during the last quarter. Finally, Triad Wealth Partners LLC acquired a new stake in shares of Netflix during the 2nd quarter worth $38,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Stock Performance

Shares of NFLX stock opened at $823.96 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13. Netflix, Inc. has a one year low of $445.73 and a one year high of $841.00. The company’s 50-day simple moving average is $735.77 and its 200-day simple moving average is $680.46. The stock has a market capitalization of $352.21 billion, a price-to-earnings ratio of 46.63, a PEG ratio of 1.59 and a beta of 1.25.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, topping the consensus estimate of $5.09 by $0.31. Netflix had a net margin of 20.70% and a return on equity of 35.86%. The business had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.77 billion. Equities analysts anticipate that Netflix, Inc. will post 19.78 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Netflix news, Director Timothy M. Haley sold 647 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $800.19, for a total value of $517,722.93. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Reed Hastings sold 25,074 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $680.92, for a total transaction of $17,073,388.08. Following the completion of the transaction, the chairman now directly owns 85 shares in the company, valued at $57,878.20. This represents a 99.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 205,084 shares of company stock valued at $146,747,101 over the last quarter. Insiders own 1.76% of the company’s stock.

Wall Street Analyst Weigh In

NFLX has been the subject of a number of research analyst reports. Wedbush upped their price objective on Netflix from $725.00 to $775.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Guggenheim upped their price objective on Netflix from $810.00 to $825.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Citigroup upped their price objective on Netflix from $660.00 to $675.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Canaccord Genuity Group upped their price objective on Netflix from $750.00 to $760.00 and gave the stock a “hold” rating in a report on Friday, October 18th. Finally, Oppenheimer increased their price target on Netflix from $775.00 to $825.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Two 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 company’s stock. Based on data from MarketBeat, Netflix has an average rating of “Moderate Buy” and an average price target of $748.15.

Netflix Profile

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.