Kesler Norman & Wride LLC Purchases New Stake in Netflix, Inc. (NASDAQ:NFLX)

Kesler Norman & Wride LLC purchased a new stake in shares of Netflix, Inc. (NASDAQ:NFLX) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 2,412 shares of the Internet television network’s stock, valued at approximately $1,713,000.

Other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP increased its holdings in Netflix by 540.9% during the 4th quarter. Wellington Management Group LLP now owns 3,878,785 shares of the Internet television network’s stock worth $1,888,503,000 after purchasing an additional 3,273,592 shares in the last quarter. GQG Partners LLC purchased a new position in shares of Netflix during the first quarter valued at approximately $1,450,476,000. Jennison Associates LLC grew its holdings in Netflix by 17.0% during the first 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 in the last quarter. Global Assets Advisory LLC purchased a new stake in Netflix in the 1st quarter valued at $436,514,000. Finally, Jericho Capital Asset Management L.P. bought a new position in Netflix during the 1st quarter valued at $372,293,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Stock Performance

NASDAQ:NFLX opened at $701.92 on Tuesday. The company has a market capitalization of $302.53 billion, a price-to-earnings ratio of 48.71, a PEG ratio of 1.44 and a beta of 1.26. The business has a 50 day moving average of $676.85 and a 200 day moving average of $648.20. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95. Netflix, Inc. has a 1-year low of $344.73 and a 1-year high of $725.26.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.74 by $0.14. The company had revenue of $9.56 billion during 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 firm’s revenue was up 16.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.29 EPS. On average, sell-side analysts predict that Netflix, Inc. will post 19.08 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Gregory K. Peters sold 1,278 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $614.44, for a total transaction of $785,254.32. Following the completion of the sale, the chief executive officer now directly owns 13,090 shares in the company, valued at $8,043,019.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO Spencer Adam Neumann sold 433 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $626.19, for a total transaction of $271,140.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gregory K. Peters sold 1,278 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $614.44, for a total value of $785,254.32. Following the completion of the sale, the chief executive officer now directly owns 13,090 shares in the company, valued at $8,043,019.60. The trade was 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 have sold 224,784 shares of company stock valued at $150,212,870. 1.76% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Benchmark upped 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. Redburn Atlantic raised their target price on Netflix from $740.00 to $760.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Rosenblatt Securities reissued a “neutral” rating and issued a $635.00 target price on shares of Netflix in a research report on Friday, September 20th. Sanford C. Bernstein upped their price target on Netflix from $600.00 to $625.00 and gave the company a “market perform” rating in a research report on Friday, July 19th. Finally, Guggenheim increased their price target on Netflix from $700.00 to $735.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $691.76.

Netflix Company 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.