Summit Financial Strategies Inc. Takes $392,000 Position in Netflix, Inc. (NASDAQ:NFLX)

Summit Financial Strategies Inc. acquired a new stake in Netflix, Inc. (NASDAQ:NFLX) during the 3rd quarter, Holdings Channel reports. The firm acquired 553 shares of the Internet television network’s stock, valued at approximately $392,000.

Several other large investors have also made changes to their positions in the business. Denver PWM LLC bought a new stake in shares of Netflix in the second quarter worth about $25,000. Valued Wealth Advisors LLC increased its holdings in shares of Netflix by 80.0% in the first quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock worth $27,000 after purchasing an additional 20 shares during the last quarter. Proffitt & Goodson Inc. increased its holdings in shares of Netflix by 380.0% in the second quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock worth $32,000 after purchasing an additional 38 shares during the last quarter. AlphaMark Advisors LLC increased its holdings in shares of 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 purchasing an additional 45 shares during the last quarter. Finally, Indiana Trust & Investment Management CO increased its holdings in shares of Netflix by 112.0% in the first quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock worth $32,000 after purchasing an additional 28 shares during the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Netflix Stock Down 1.5 %

Netflix stock traded down $10.41 during mid-day trading on Thursday, reaching $691.59. 2,033,927 shares of the company were exchanged, compared to its average volume of 3,628,192. The business has a fifty day moving average of $692.63 and a 200 day moving average of $653.38. The firm has a market cap of $298.08 billion, a P/E ratio of 48.07, a PEG ratio of 1.49 and a beta of 1.26. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95. Netflix, Inc. has a 12-month low of $344.73 and a 12-month high of $736.00.

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

Insider Transactions at Netflix

In other news, Chairman Reed Hastings sold 25,599 shares of the company’s stock in a transaction 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 transaction, the chairman now directly owns 57 shares of the company’s stock, valued at approximately $35,991.51. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CFO Spencer Adam Neumann sold 433 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $626.19, for a total transaction of $271,140.27. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Reed Hastings sold 25,599 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $631.43, for a total value of $16,163,976.57. Following the completion of the transaction, the chairman now directly owns 57 shares in the company, valued at approximately $35,991.51. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 225,167 shares of company stock valued at $150,492,460. Corporate insiders own 1.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. KeyCorp lifted their target price on Netflix from $735.00 to $760.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. TD Cowen boosted their price objective on Netflix from $775.00 to $820.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Oppenheimer boosted their price objective on Netflix from $725.00 to $775.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. Macquarie boosted their price objective on Netflix from $695.00 to $795.00 and gave the stock an “outperform” rating in a research note on Friday, October 11th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Netflix from $590.00 to $650.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $704.26.

Netflix Company 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.