Whalen Wealth Management Inc. Grows Position in Netflix, Inc. (NASDAQ:NFLX)

Whalen Wealth Management Inc. increased its position in Netflix, Inc. (NASDAQ:NFLX) by 47.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,496 shares of the Internet television network’s stock after purchasing an additional 806 shares during the period. Netflix accounts for 1.3% of Whalen Wealth Management Inc.’s portfolio, making the stock its 21st biggest position. Whalen Wealth Management Inc.’s holdings in Netflix were worth $1,770,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in NFLX. Denver PWM LLC bought a new stake in shares of Netflix in the 2nd quarter worth approximately $25,000. Proffitt & Goodson Inc. raised its stake in Netflix by 380.0% during the second quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock valued at $32,000 after buying an additional 38 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. raised its stake in Netflix by 700.0% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock valued at $34,000 after buying an additional 42 shares during the last quarter. AlphaMark Advisors LLC boosted its holdings in Netflix by 642.9% in the second quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock worth $35,000 after acquiring an additional 45 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. purchased a new stake in shares of Netflix in the third quarter worth $37,000. Institutional investors own 80.93% of the company’s stock.

Insider Buying and Selling

In related news, Chairman Reed Hastings sold 25,074 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $680.92, for a total transaction of $17,073,388.08. Following the completion of the transaction, the chairman now directly owns 85 shares of the company’s stock, valued at approximately $57,878.20. This represents a 99.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jay C. Hoag sold 43,750 shares of Netflix stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $687.07, for a total value of $30,059,312.50. Following the completion of the sale, the director now directly owns 95,040 shares in the company, valued at approximately $65,299,132.80. The trade was a 31.52 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 185,277 shares of company stock worth $132,875,601. 1.76% of the stock is owned by insiders.

Netflix Price Performance

Shares of Netflix stock opened at $847.05 on Tuesday. The company has a market capitalization of $362.08 billion, a price-to-earnings ratio of 47.94, a PEG ratio of 1.59 and a beta of 1.25. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. The stock’s 50-day simple moving average is $739.20 and its 200-day simple moving average is $683.35. Netflix, Inc. has a 52 week low of $445.73 and a 52 week high of $848.45.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, topping analysts’ consensus estimates of $5.09 by $0.31. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The company had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.77 billion. As a group, analysts expect that Netflix, Inc. will post 19.78 earnings per share for the current fiscal year.

Analysts Set New Price Targets

NFLX has been the subject of several recent analyst reports. Citigroup lifted their price target on Netflix from $660.00 to $675.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Loop Capital upped their target price on shares of Netflix from $750.00 to $800.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. BMO Capital Markets reissued an “outperform” rating and set a $825.00 price target (up previously from $770.00) on shares of Netflix in a research report on Friday, October 18th. JPMorgan Chase & Co. upped their price objective on Netflix from $750.00 to $850.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Finally, Canaccord Genuity Group lifted their target price on Netflix from $750.00 to $760.00 and gave the stock a “hold” rating in a report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $753.45.

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.