Syntegra Private Wealth Group LLC Purchases Shares of 263 Netflix, Inc. $NFLX

Syntegra Private Wealth Group LLC acquired a new stake in Netflix, Inc. (NASDAQ:NFLX) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 263 shares of the Internet television network’s stock, valued at approximately $352,000.

A number of other hedge funds have also recently made changes to their positions in NFLX. Vanguard Group Inc. raised its stake in shares of Netflix by 1.4% in the first quarter. Vanguard Group Inc. now owns 37,997,260 shares of the Internet television network’s stock worth $35,433,585,000 after purchasing an additional 509,255 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Netflix by 2.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 11,732,066 shares of the Internet television network’s stock worth $10,940,505,000 after buying an additional 304,399 shares in the last quarter. Alliancebernstein L.P. raised its position in Netflix by 1.0% in the 1st quarter. Alliancebernstein L.P. now owns 5,194,939 shares of the Internet television network’s stock valued at $4,844,436,000 after buying an additional 53,611 shares during the last quarter. Invesco Ltd. lifted its stake in Netflix by 8.3% during the 1st quarter. Invesco Ltd. now owns 4,664,818 shares of the Internet television network’s stock valued at $4,350,083,000 after acquiring an additional 356,617 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake in Netflix by 3.5% during the 1st quarter. Wellington Management Group LLP now owns 4,385,666 shares of the Internet television network’s stock valued at $4,089,765,000 after acquiring an additional 148,675 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Reed Hastings sold 42,176 shares of the stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $1,171.92, for a total transaction of $49,426,897.92. Following the completion of the transaction, the director owned 394 shares in the company, valued at approximately $461,736.48. This represents a 99.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider David A. Hyman sold 424 shares of Netflix stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $1,158.67, for a total value of $491,276.08. Following the completion of the sale, 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. Over the last three months, insiders have sold 104,100 shares of company stock worth $122,710,980. 1.37% of the stock is owned by company insiders.

Netflix Price Performance

Netflix stock opened at $1,238.56 on Tuesday. The business’s 50 day simple moving average is $1,213.87 and its 200 day simple moving average is $1,182.08. Netflix, Inc. has a 12 month low of $744.26 and a 12 month high of $1,341.15. The company has a market cap of $526.30 billion, a price-to-earnings ratio of 52.77, a PEG ratio of 2.02 and a beta of 1.59. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.58.

Analyst Ratings Changes

Several analysts have recently issued reports on NFLX shares. KeyCorp upped their target price on shares of Netflix from $1,070.00 to $1,390.00 and gave the stock an “overweight” rating in a research note on Thursday, July 10th. Sanford C. Bernstein restated a “buy” rating on shares of Netflix in a report on Friday. Weiss Ratings reiterated a “buy (b)” rating on shares of Netflix in a research note on Wednesday, October 8th. Citigroup reissued a “neutral” rating and set a $1,295.00 target price (up previously from $1,280.00) on shares of Netflix in a research report on Friday, October 3rd. Finally, Robert W. Baird boosted their target price on Netflix from $1,300.00 to $1,500.00 and gave the stock an “outperform” rating in a research note on Monday, July 21st. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Netflix currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,339.81.

Netflix 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.