Financial Network Wealth Management LLC Purchases 39 Shares of Netflix, Inc. (NASDAQ:NFLX)

Financial Network Wealth Management LLC increased its position in Netflix, Inc. (NASDAQ:NFLX) by 2.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,037 shares of the Internet television network’s stock after buying an additional 39 shares during the period. Netflix comprises approximately 0.6% of Financial Network Wealth Management LLC’s holdings, making the stock its 27th largest position. Financial Network Wealth Management LLC’s holdings in Netflix were worth $1,076,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Schmidt P J Investment Management Inc. raised its position in shares of Netflix by 3.1% during the 2nd quarter. Schmidt P J Investment Management Inc. now owns 656 shares of the Internet television network’s stock valued at $338,000 after buying an additional 20 shares in the last quarter. Parcion Private Wealth LLC raised its position in shares of Netflix by 1.3% during the 2nd quarter. Parcion Private Wealth LLC now owns 1,609 shares of the Internet television network’s stock valued at $850,000 after buying an additional 20 shares in the last quarter. LexAurum Advisors LLC raised its position in shares of Netflix by 2.8% during the 2nd quarter. LexAurum Advisors LLC now owns 732 shares of the Internet television network’s stock valued at $387,000 after buying an additional 20 shares in the last quarter. Purus Wealth Management LLC raised its position in shares of Netflix by 2.8% during the 2nd quarter. Purus Wealth Management LLC now owns 724 shares of the Internet television network’s stock valued at $382,000 after buying an additional 20 shares in the last quarter. Finally, Investors Research Corp raised its position in shares of Netflix by 3.4% during the 2nd quarter. Investors Research Corp now owns 638 shares of the Internet television network’s stock valued at $337,000 after buying an additional 21 shares in the last quarter. 79.51% of the stock is owned by institutional investors.

Several analysts have recently issued reports on the stock. UBS Group upped their target price on shares of Netflix from $600.00 to $620.00 and gave the company a “buy” rating in a research report on Thursday, July 15th. KeyCorp reduced their price objective on shares of Netflix from $650.00 to $645.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 21st. Jefferies Financial Group assumed coverage on shares of Netflix in a research report on Wednesday, July 21st. They issued a “buy” rating and a $620.00 price objective on the stock. Atlantic Securities upped their target price on shares of Netflix from $690.00 to $780.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 7th. Finally, Wedbush restated an “underperform” rating and issued a $342.00 target price on shares of Netflix in a research note on Wednesday, July 21st. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $616.79.

In other Netflix news, Director Ann Mather sold 809 shares of Netflix stock in a transaction dated Tuesday, September 7th. The shares were sold at an average price of $600.00, for a total transaction of $485,400.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jay C. Hoag sold 939 shares of Netflix stock in a transaction dated Tuesday, August 3rd. The stock was sold at an average price of $510.16, for a total transaction of $479,040.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,649 shares of company stock worth $9,729,194. Company insiders own 3.40% of the company’s stock.

NFLX stock traded down $15.32 during midday trading on Monday, hitting $574.03. 105,691 shares of the stock traded hands, compared to its average volume of 4,073,043. The firm has a market cap of $254.06 billion, a P/E ratio of 59.58, a PEG ratio of 1.88 and a beta of 0.76. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.23 and a quick ratio of 1.23. The stock’s fifty day simple moving average is $545.76 and its 200-day simple moving average is $525.19. Netflix, Inc. has a 1-year low of $463.41 and a 1-year high of $615.60.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Monday, July 19th. The Internet television network reported $2.97 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.16 by ($0.19). The firm had revenue of $7.34 billion for the quarter, compared to analyst estimates of $7.32 billion. Netflix had a net margin of 15.92% and a return on equity of 36.49%. The firm’s quarterly revenue was up 19.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.59 EPS. On average, research analysts predict that Netflix, Inc. will post 10.38 earnings per share for the current year.

Netflix Company Profile

Netflix, Inc operates as a streaming entertainment service company. The firm provides subscription service streaming movies and television episodes over the Internet and sending DVDs by mail. It operates through the following segments: Domestic Streaming, International Streaming and Domestic DVD. The Domestic Streaming segment derives revenues from monthly membership fees for services consisting of streaming content to its members in the United States.

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Institutional Ownership by Quarter for Netflix (NASDAQ:NFLX)

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