Netflix, Inc. (NASDAQ:NFLX) Shares Purchased by AE Wealth Management LLC

AE Wealth Management LLC increased its stake in Netflix, Inc. (NASDAQ:NFLX) by 24.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,466 shares of the Internet television network’s stock after acquiring an additional 2,044 shares during the quarter. AE Wealth Management LLC’s holdings in Netflix were worth $7,063,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Denver PWM LLC purchased a new stake in shares of Netflix during the second quarter worth about $25,000. Valued Wealth Advisors LLC increased its stake in Netflix by 80.0% during the 1st quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock worth $27,000 after buying an additional 20 shares in the last quarter. Proffitt & Goodson Inc. raised its holdings in shares of Netflix by 380.0% during the second quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock valued at $32,000 after acquiring an additional 38 shares during the last quarter. AlphaMark Advisors LLC lifted its position in shares of Netflix by 642.9% in the second quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock valued at $35,000 after acquiring an additional 45 shares in the last quarter. Finally, Indiana Trust & Investment Management CO boosted its stake in shares of Netflix by 112.0% in the first quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock worth $32,000 after acquiring an additional 28 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NFLX has been the topic of a number of research reports. Oppenheimer restated an “outperform” rating and issued a $725.00 price objective on shares of Netflix in a report on Tuesday, July 30th. Morgan Stanley boosted their price target on shares of Netflix from $700.00 to $780.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Loop Capital increased their price objective on shares of Netflix from $700.00 to $750.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. Benchmark raised their target price on shares of Netflix from $450.00 to $545.00 and gave the stock a “sell” rating in a research note on Tuesday, July 16th. Finally, JPMorgan Chase & Co. upped their price target on Netflix from $650.00 to $750.00 and gave the company an “overweight” rating in a research report on Friday, July 12th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $685.29.

Netflix Price Performance

NFLX stock opened at $701.03 on Friday. The business’s fifty day moving average price is $663.00 and its 200 day moving average price is $640.85. Netflix, Inc. has a 12-month low of $344.73 and a 12-month high of $715.66. The company has a market capitalization of $302.14 billion, a PE ratio of 48.65, a P/E/G ratio of 1.40 and a beta of 1.26. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55.

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, topping the consensus estimate of $4.74 by $0.14. The business had revenue of $9.56 billion for the quarter, compared to analysts’ expectations of $9.53 billion. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The business’s quarterly revenue was up 16.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.29 earnings per share. On average, sell-side analysts anticipate that Netflix, Inc. will post 19.08 EPS for the current year.

Insider Buying and Selling at Netflix

In other news, Chairman Reed Hastings sold 22,526 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $670.49, for a total transaction of $15,103,457.74. Following the sale, the chairman now owns 57 shares of the company’s stock, valued at $38,217.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Netflix news, insider David A. Hyman sold 20,656 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now owns 31,610 shares in the company, valued at approximately $19,128,159.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Reed Hastings sold 22,526 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $670.49, for a total transaction of $15,103,457.74. Following the completion of the sale, the chairman now owns 57 shares in the company, valued at $38,217.93. The disclosure for this sale can be found here. Insiders sold 197,226 shares of company stock valued at $129,858,692 in the last 90 days. Company 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.