McGlone Suttner Wealth Management Inc. Purchases 362 Shares of Netflix, Inc. (NASDAQ:NFLX)

by · The Markets Daily

McGlone Suttner Wealth Management Inc. lifted its position in shares of Netflix, Inc. (NASDAQ:NFLX – Free Report) by 70.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 874 shares of the Internet television network’s stock after purchasing an additional 362 shares during the period. McGlone Suttner Wealth Management Inc.’s holdings in Netflix were worth $620,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Wellington Management Group LLP boosted its holdings in shares of Netflix by 540.9% in the 4th quarter. Wellington Management Group LLP now owns 3,878,785 shares of the Internet television network’s stock valued at $1,888,503,000 after purchasing an additional 3,273,592 shares in the last quarter. GQG Partners LLC bought a new position in shares of Netflix in the 1st quarter worth about $1,450,476,000. Jennison Associates LLC raised its position in shares of Netflix by 17.0% in the 1st quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock worth $3,875,655,000 after acquiring an additional 929,193 shares in the last quarter. Global Assets Advisory LLC bought a new position in shares of Netflix in the 1st quarter worth about $436,514,000. Finally, Jericho Capital Asset Management L.P. bought a new stake in Netflix in the 1st quarter valued at about $372,293,000. Institutional investors own 80.93% of the company’s stock.

Insider Buying and Selling at Netflix

In other Netflix news, Chairman Reed Hastings sold 45,290 shares of Netflix stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $706.16, for a total transaction of $31,981,986.40. Following the sale, the chairman now directly owns 85 shares of the company’s stock, valued at approximately $60,023.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Gregory K. Peters sold 1,278 shares of Netflix stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $614.44, for a total transaction of $785,254.32. Following the completion of the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at approximately $8,043,019.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Reed Hastings sold 45,290 shares of Netflix stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $706.16, for a total transaction of $31,981,986.40. Following the transaction, the chairman now owns 85 shares of the company’s stock, valued at $60,023.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 225,167 shares of company stock valued at $150,492,460. 1.76% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

NFLX has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft lifted their price target on Netflix from $590.00 to $650.00 and gave the company a “hold” rating in a research note on Wednesday. Sanford C. Bernstein upped their price objective on Netflix from $600.00 to $625.00 and gave the company a “market perform” rating in a research note on Friday, July 19th. Evercore ISI upped their price objective on Netflix from $710.00 to $750.00 and gave the company an “outperform” rating in a research note on Tuesday, August 27th. KeyCorp boosted their target price on shares of Netflix from $735.00 to $760.00 and gave the company an “overweight” rating in a report on Tuesday, October 1st. Finally, StockNews.com raised shares of Netflix from a “hold” rating to a “buy” rating in a report on Tuesday, September 24th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $702.79.

Read Our Latest Analysis on NFLX

Netflix Trading Down 1.0 %

Shares of NASDAQ NFLX traded down $7.50 during trading hours on Friday, hitting $722.79. The company’s stock had a trading volume of 2,299,525 shares, compared to its average volume of 3,649,776. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a market cap of $311.52 billion, a price-to-earnings ratio of 50.16, a P/E/G ratio of 1.49 and a beta of 1.26. Netflix, Inc. has a 12 month low of $344.73 and a 12 month high of $736.00. The business has a 50-day simple moving average of $686.60 and a 200-day simple moving average of $651.33.

Netflix (NASDAQ:NFLX – Get Free Report) last posted its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, beating the consensus estimate of $4.74 by $0.14. The business had revenue of $9.56 billion for the quarter, compared to analysts’ expectations of $9.53 billion. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The business’s revenue was up 16.8% on a year-over-year basis. During the same period in the previous year, the firm posted $3.29 EPS. On average, analysts anticipate that Netflix, Inc. will post 19.08 earnings per share for the current fiscal year.

About Netflix

(Free Report)

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.

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