Sweet Financial Partners LLC Has $2.54 Million Holdings in Netflix, Inc. (NASDAQ:NFLX)

by · The Cerbat Gem

Sweet Financial Partners LLC lifted its position in Netflix, Inc. (NASDAQ:NFLX – Free Report) by 312.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,576 shares of the Internet television network’s stock after purchasing an additional 2,709 shares during the quarter. Sweet Financial Partners LLC’s holdings in Netflix were worth $2,536,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV increased its stake in Netflix by 7.8% in the first quarter. Massmutual Trust Co. FSB ADV now owns 1,191 shares of the Internet television network’s stock valued at $723,000 after acquiring an additional 86 shares during the period. Perpetual Ltd raised its stake in Netflix by 216.8% during the first quarter. Perpetual Ltd now owns 3,054 shares of the Internet television network’s stock worth $1,855,000 after acquiring an additional 2,090 shares in the last quarter. American National Bank lifted its holdings in shares of Netflix by 103.2% during the first quarter. American National Bank now owns 378 shares of the Internet television network’s stock valued at $230,000 after acquiring an additional 192 shares during the period. Park Avenue Securities LLC boosted its stake in shares of Netflix by 18.2% in the 1st quarter. Park Avenue Securities LLC now owns 12,571 shares of the Internet television network’s stock valued at $7,635,000 after purchasing an additional 1,932 shares in the last quarter. Finally, PFW Advisors LLC bought a new stake in shares of Netflix in the 1st quarter worth about $244,000. 80.93% of the stock is owned by institutional investors.

Netflix Stock Performance

Shares of Netflix stock opened at $687.65 on Friday. The stock’s fifty day simple moving average is $693.78 and its 200 day simple moving average is $653.62. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $296.38 billion, a PE ratio of 47.72, a PEG ratio of 1.49 and a beta of 1.26. Netflix, Inc. has a 12 month low of $344.73 and a 12 month high of $736.00.

Netflix (NASDAQ:NFLX – Get Free Report) last released its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, topping analysts’ consensus estimates of $5.09 by $0.31. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The company had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.77 billion. On average, research analysts predict that Netflix, Inc. will post 19.08 EPS for the current year.

Insiders Place Their Bets

In other news, Chairman Reed Hastings sold 25,599 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $631.43, for a total transaction of $16,163,976.57. Following the completion of the sale, the chairman now owns 57 shares of the company’s stock, valued at $35,991.51. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Netflix news, insider David A. Hyman sold 20,656 shares of Netflix stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total value of $12,499,565.28. Following the sale, the insider now directly owns 31,610 shares in the company, valued at approximately $19,128,159.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Reed Hastings sold 25,599 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $631.43, for a total value of $16,163,976.57. Following the sale, the chairman now owns 57 shares in the company, valued at approximately $35,991.51. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 225,167 shares of company stock worth $150,492,460. Company insiders own 1.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Oppenheimer boosted their price target on shares of Netflix from $725.00 to $775.00 and gave the company an “outperform” rating in a research report on Thursday, October 10th. Citigroup boosted their target price on Netflix from $660.00 to $675.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Pivotal Research raised their price target on Netflix from $800.00 to $900.00 and gave the company a “buy” rating in a report on Friday, August 30th. Wedbush boosted their price objective on Netflix from $725.00 to $775.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Benchmark restated a “sell” rating and issued a $545.00 target price on shares of Netflix in a research note on Tuesday. Two research 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 stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $705.74.

Read Our Latest Stock Analysis on Netflix

About Netflix

(Free Report)

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.

See Also

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