Kingsview Wealth Management LLC Buys 4,571 Shares of Netflix, Inc. (NASDAQ:NFLX)

Kingsview Wealth Management LLC raised its stake in Netflix, Inc. (NASDAQ:NFLX) by 9.4% in the third quarter, Holdings Channel.com reports. The firm owned 53,191 shares of the Internet television network’s stock after acquiring an additional 4,571 shares during the period. Netflix makes up approximately 0.8% of Kingsview Wealth Management LLC’s holdings, making the stock its 24th largest holding. Kingsview Wealth Management LLC’s holdings in Netflix were worth $37,727,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Jennison Associates LLC lifted its holdings in shares of Netflix by 4.7% during the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after acquiring an additional 316,594 shares during the period. International Assets Investment Management LLC lifted its holdings in Netflix by 116,620.0% during the 3rd quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock valued at $4,080,522,000 after purchasing an additional 5,748,200 shares during the last quarter. Baillie Gifford & Co. lifted its holdings in Netflix by 2.3% during the 2nd quarter. Baillie Gifford & Co. now owns 4,762,069 shares of the Internet television network’s stock valued at $3,213,825,000 after purchasing an additional 106,756 shares during the last quarter. Legal & General Group Plc lifted its holdings in Netflix by 3.1% during the 2nd quarter. Legal & General Group Plc now owns 3,449,114 shares of the Internet television network’s stock valued at $2,327,738,000 after purchasing an additional 104,332 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Netflix by 2.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,281,306 shares of the Internet television network’s stock valued at $2,214,488,000 after purchasing an additional 83,762 shares during the last quarter. 80.93% of the stock is owned by institutional investors.

Netflix Price Performance

Shares of NFLX opened at $897.79 on Friday. The company has a market cap of $383.77 billion, a price-to-earnings ratio of 50.81, a PEG ratio of 1.73 and a beta of 1.25. Netflix, Inc. has a 1-year low of $445.73 and a 1-year high of $908.00. The company’s fifty day simple moving average is $755.40 and its 200 day simple moving average is $690.34. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62.

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

Insider Buying and Selling at Netflix

In related news, insider David A. Hyman sold 267 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total value of $204,433.89. Following the transaction, the insider now directly owns 31,610 shares in the company, valued at approximately $24,202,828.70. This represents a 0.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Reed Hastings sold 25,074 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were 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 owns 85 shares in the company, valued at $57,878.20. This trade represents a 99.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 185,866 shares of company stock worth $133,393,921 over the last ninety days. Insiders own 1.76% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on NFLX shares. Morgan Stanley lifted their price target on shares of Netflix from $820.00 to $830.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Macquarie reissued an “outperform” rating and set a $795.00 price target on shares of Netflix in a report on Friday, October 18th. Oppenheimer raised their price objective on shares of Netflix from $775.00 to $825.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. The Goldman Sachs Group set a $750.00 price objective on shares of Netflix in a research report on Friday, October 18th. Finally, Sanford C. Bernstein raised their price objective on shares of Netflix from $625.00 to $780.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $764.82.

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.