Jackson Thornton Wealth Management LLC Increases Holdings in Netflix, Inc. $NFLX

Jackson Thornton Wealth Management LLC grew its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 5.2% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 283 shares of the Internet television network’s stock after acquiring an additional 14 shares during the quarter. Jackson Thornton Wealth Management LLC’s holdings in Netflix were worth $361,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Optima Capital LLC raised its position in shares of Netflix by 3.5% during the 2nd quarter. Optima Capital LLC now owns 239 shares of the Internet television network’s stock valued at $320,000 after buying an additional 8 shares in the last quarter. Unified Investment Management raised its position in shares of Netflix by 1.7% during the 2nd quarter. Unified Investment Management now owns 474 shares of the Internet television network’s stock valued at $635,000 after buying an additional 8 shares in the last quarter. Plancorp LLC raised its position in shares of Netflix by 0.6% during the 2nd quarter. Plancorp LLC now owns 1,278 shares of the Internet television network’s stock valued at $1,711,000 after buying an additional 8 shares in the last quarter. Five Oceans Advisors raised its position in shares of Netflix by 1.1% during the 2nd quarter. Five Oceans Advisors now owns 751 shares of the Internet television network’s stock valued at $1,006,000 after buying an additional 8 shares in the last quarter. Finally, Old Port Advisors raised its position in shares of Netflix by 1.3% during the 2nd quarter. Old Port Advisors now owns 624 shares of the Internet television network’s stock valued at $836,000 after buying an additional 8 shares in the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Netflix Price Performance

Shares of NFLX opened at $1,238.56 on Tuesday. The company has a market cap of $526.30 billion, a price-to-earnings ratio of 52.77, a price-to-earnings-growth ratio of 2.02 and a beta of 1.59. Netflix, Inc. has a twelve month low of $744.26 and a twelve month high of $1,341.15. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.58. The company has a 50 day moving average of $1,213.87 and a two-hundred day moving average of $1,182.08.

Insiders Place Their Bets

In related news, CEO Theodore A. Sarandos sold 2,026 shares of the firm’s stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $1,160.62, for a total transaction of $2,351,416.12. Following the completion of the transaction, the chief executive officer owned 15,168 shares of the company’s stock, valued at $17,604,284.16. This trade represents a 11.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider David A. Hyman sold 424 shares of the firm’s stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $1,158.67, for a total transaction of $491,276.08. Following the transaction, the insider directly owned 31,610 shares of the company’s stock, valued at approximately $36,625,558.70. This trade represents a 1.32% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 104,100 shares of company stock valued at $122,710,980. Corporate insiders own 1.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. The Goldman Sachs Group reduced their price objective on shares of Netflix from $1,310.00 to $1,300.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 30th. Rosenblatt Securities increased their price objective on shares of Netflix from $1,514.00 to $1,515.00 and gave the stock a “buy” rating in a research report on Friday, July 18th. Barclays reissued a “sell” rating and issued a $1,100.00 price objective (up from $1,000.00) on shares of Netflix in a research report on Wednesday, July 9th. Weiss Ratings reissued a “buy (b)” rating on shares of Netflix in a research report on Wednesday, October 8th. Finally, UBS Group reissued a “buy” rating and issued a $1,495.00 price objective on shares of Netflix in a research report on Thursday, October 16th. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,339.81.

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.