Netflix, Inc. $NFLX Stock Bought by Global Wealth Management Investment Advisory Inc.

Global Wealth Management Investment Advisory Inc. grew its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 23.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 56,389 shares of the Internet television network’s stock after purchasing an additional 10,651 shares during the period. Global Wealth Management Investment Advisory Inc.’s holdings in Netflix were worth $3,924,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. bought a new position in Netflix in the 2nd quarter valued at about $24,902,221,000. Bank of New York Mellon Corp acquired a new position in Netflix during the 2nd quarter valued at about $1,906,482,000. Legal & General Group Plc acquired a new position in Netflix during the 2nd quarter valued at about $1,886,526,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Netflix during the 2nd quarter worth about $1,481,303,000. Finally, Assenagon Asset Management S.A. raised its position in shares of Netflix by 194.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 16,111,438 shares of the Internet television network’s stock worth $1,121,034,000 after buying an additional 10,647,803 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors.

Insider Transactions at Netflix

In other news, CEO Theodore Sarandos sold 27,312 shares of the firm’s stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $66.20, for a total transaction of $1,808,054.40. Following the transaction, the chief executive officer owned 178,954 shares in the company, valued at approximately $11,846,754.80. This trade represents a 13.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Bradford Smith sold 17,980 shares of the firm’s stock in a transaction on Monday, October 26th. The shares were sold at an average price of $64.03, for a total transaction of $1,151,259.40. Following the transaction, the director owned 79,690 shares in the company, valued at $5,102,550.70. This represents a 18.41% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 61,712 shares of company stock valued at $4,051,144. Insiders own 1.24% of the company’s stock.

Netflix Stock Up 0.9%

NFLX stock opened at $63.95 on Tuesday. Netflix, Inc. has a 52-week low of $61.39 and a 52-week high of $116.73. The company’s 50 day simple moving average is $70.68 and its 200-day simple moving average is $80.86. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a market capitalization of $262.60 billion, a P/E ratio of 18.48, a P/E/G ratio of 0.97 and a beta of 1.62.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Tuesday, October 20th. The Internet television network reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.05. The business had revenue of $12.87 billion for the quarter, compared to the consensus estimate of $12.87 billion. Netflix had a return on equity of 42.69% and a net margin of 29.69%. Netflix’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.59 earnings per share. As a group, equities research analysts anticipate that Netflix, Inc. will post 3.59 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Wells Fargo & Company lowered shares of Netflix from a “neutral” rating to an “underweight” rating and reduced their price target for the stock from $80.00 to $57.00 in a research note on Friday, September 18th. Loop Capital lowered their price objective on shares of Netflix from $115.00 to $95.00 and set a “buy” rating on the stock in a research note on Friday, July 24th. Jefferies Financial Group set a $85.00 target price on Netflix and gave the stock a “buy” rating in a report on Thursday, October 15th. New Street Research boosted their target price on Netflix from $96.00 to $102.00 and gave the stock a “neutral” rating in a report on Friday, July 17th. Finally, Wedbush cut their target price on Netflix from $105.00 to $90.00 and set an “outperform” rating for the company in a research report on Friday, October 16th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating, seventeen have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Netflix has an average rating of “Moderate Buy” and an average target price of $89.14.

Netflix Profile

Netflix, Inc is an entertainment company that offers subscription-based streaming of television series, films, documentaries and other programming. Its service also includes mobile games and, in some markets, advertising-supported viewing plans. Netflix produces and licenses content, including titles made under its Netflix brand.

Founded in 1997 by Reed Hastings and Marc Randolph as a DVD-by-mail rental business, the company launched its streaming service in 2007 and later expanded into original programming.