Sweet Financial Partners LLC Acquires 2,709 Shares of Netflix, Inc. (NASDAQ:NFLX)

Sweet Financial Partners LLC raised its holdings in Netflix, Inc. (NASDAQ:NFLX) by 312.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,576 shares of the Internet television network’s stock after buying an additional 2,709 shares during the period. Sweet Financial Partners LLC’s holdings in Netflix were worth $2,536,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. DigitalBridge Group Inc. raised its holdings in Netflix by 35.5% in the 2nd quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock valued at $24,338,000 after acquiring an additional 9,451 shares during the period. M&G Plc acquired a new stake in Netflix during the 1st quarter worth approximately $9,682,000. BSN CAPITAL PARTNERS Ltd boosted its stake in Netflix by 24.4% in the 1st quarter. BSN CAPITAL PARTNERS Ltd now owns 250,000 shares of the Internet television network’s stock valued at $155,185,000 after purchasing an additional 49,000 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Netflix by 58.2% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 82,931 shares of the Internet television network’s stock valued at $55,968,000 after buying an additional 30,511 shares in the last quarter. Finally, First Trust Direct Indexing L.P. increased its position in Netflix by 14.9% during the 1st quarter. First Trust Direct Indexing L.P. now owns 10,330 shares of the Internet television network’s stock worth $6,274,000 after buying an additional 1,342 shares during the period. 80.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NFLX. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Netflix from $590.00 to $650.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Pivotal Research increased their target price on shares of Netflix from $800.00 to $900.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Evercore ISI lifted their price target on shares of Netflix from $710.00 to $750.00 and gave the company an “outperform” rating in a research report on Tuesday, August 27th. The Goldman Sachs Group increased their price target on Netflix from $650.00 to $659.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $700.00 price objective on shares of Netflix in a report on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat, Netflix currently has an average rating of “Moderate Buy” and an average target price of $705.74.

Insider Transactions at Netflix

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 directly owns 57 shares in the company, valued at $35,991.51. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Netflix news, CFO Spencer Adam Neumann sold 433 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $626.19, for a total value of $271,140.27. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Reed Hastings sold 25,599 shares of the firm’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 transaction of $16,163,976.57. Following the sale, the chairman now directly owns 57 shares of the company’s stock, valued at approximately $35,991.51. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 225,167 shares of company stock worth $150,492,460. Company insiders own 1.76% of the company’s stock.

Netflix Trading Down 2.0 %

NFLX opened at $687.65 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95. Netflix, Inc. has a fifty-two week low of $344.73 and a fifty-two week high of $736.00. The company’s 50 day moving average price is $693.78 and its two-hundred day moving average price is $653.62. The firm has a market capitalization of $296.38 billion, a price-to-earnings ratio of 47.72, a PEG ratio of 1.49 and a beta of 1.26.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, beating analysts’ consensus estimates of $5.09 by $0.31. The business had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.77 billion. Netflix had a return on equity of 32.93% and a net margin of 19.54%. As a group, research analysts predict that Netflix, Inc. will post 19.08 earnings per share for the current year.

About Netflix

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.