Wedmont Private Capital Buys 843 Shares of Netflix, Inc. (NASDAQ:NFLX)

Wedmont Private Capital grew its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 10.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,094 shares of the Internet television network’s stock after acquiring an additional 843 shares during the period. Wedmont Private Capital’s holdings in Netflix were worth $6,383,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in NFLX. Wellington Management Group LLP grew its holdings in Netflix by 540.9% in the 4th quarter. Wellington Management Group LLP now owns 3,878,785 shares of the Internet television network’s stock valued at $1,888,503,000 after buying an additional 3,273,592 shares in the last quarter. GQG Partners LLC bought a new stake in shares of Netflix in the first quarter valued at about $1,450,476,000. Jennison Associates LLC grew its stake in shares of Netflix by 17.0% in the first quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock valued at $3,875,655,000 after acquiring an additional 929,193 shares in the last quarter. Global Assets Advisory LLC bought a new position in Netflix during the first quarter worth about $436,514,000. Finally, Jericho Capital Asset Management L.P. acquired a new stake in Netflix in the 1st quarter worth about $372,293,000. Institutional investors own 80.93% of the company’s stock.

Analysts Set New Price Targets

NFLX has been the topic of several recent research reports. China Renaissance assumed coverage on shares of Netflix in a report on Thursday, September 5th. They set a “hold” rating and a $680.00 target price on the stock. Evercore ISI upped their price objective on shares of Netflix from $710.00 to $750.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 27th. Barclays reaffirmed an “underweight” rating and issued a $550.00 target price on shares of Netflix in a report on Monday. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Netflix from $590.00 to $650.00 and gave the stock a “hold” rating in a research report on Wednesday. Finally, StockNews.com raised shares of Netflix from a “hold” rating to a “buy” rating in a research note on Tuesday, September 24th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat, Netflix has a consensus rating of “Moderate Buy” and a consensus target price of $694.71.

Netflix Stock Performance

Shares of NFLX opened at $727.43 on Thursday. The firm has a market capitalization of $313.52 billion, a P/E ratio of 50.48, a P/E/G ratio of 1.44 and a beta of 1.26. Netflix, Inc. has a 52 week low of $344.73 and a 52 week high of $728.59. The stock has a 50 day moving average price of $680.33 and a two-hundred day moving average price of $649.42. 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 issued its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 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 company had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $9.53 billion. During the same period last year, the business posted $3.29 earnings per share. Netflix’s revenue was up 16.8% on a year-over-year basis. Equities analysts forecast that Netflix, Inc. will post 19.08 earnings per share for the current fiscal year.

Insider Transactions at Netflix

In related news, Chairman Reed Hastings sold 45,290 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $706.16, for a total transaction of $31,981,986.40. Following the completion of the sale, the chairman now owns 85 shares in the company, valued at approximately $60,023.60. 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 accessible through this link. In other news, Director Leslie J. Kilgore sold 402 shares of the stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $725.00, for a total transaction of $291,450.00. Following the completion of the transaction, the director now owns 35,262 shares in the company, valued at approximately $25,564,950. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Reed Hastings sold 45,290 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $706.16, for a total transaction of $31,981,986.40. Following the sale, the chairman now directly owns 85 shares in the company, valued at approximately $60,023.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 224,784 shares of company stock worth $150,212,870 in the last ninety 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.