Heritage Oak Wealth Advisors LLC Takes $1.18 Million Position in Netflix, Inc. (NASDAQ:NFLX)

Heritage Oak Wealth Advisors LLC bought a new position in shares of Netflix, Inc. (NASDAQ:NFLX) during the third quarter, HoldingsChannel reports. The fund bought 1,659 shares of the Internet television network’s stock, valued at approximately $1,177,000.

A number of other institutional investors have also modified their holdings of the business. Wealthcare Advisory Partners LLC increased its stake in Netflix by 10.2% in the first quarter. Wealthcare Advisory Partners LLC now owns 2,017 shares of the Internet television network’s stock valued at $1,225,000 after purchasing an additional 187 shares during the period. Thrive Wealth Management LLC increased its position in Netflix by 4.8% in the 1st quarter. Thrive Wealth Management LLC now owns 571 shares of the Internet television network’s stock valued at $347,000 after acquiring an additional 26 shares during the period. 180 Wealth Advisors LLC raised its stake in Netflix by 35.2% during the 1st quarter. 180 Wealth Advisors LLC now owns 2,069 shares of the Internet television network’s stock valued at $1,257,000 after acquiring an additional 539 shares during the last quarter. Indiana Trust & Investment Management CO lifted its position in Netflix by 112.0% during the 1st quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock worth $32,000 after acquiring an additional 28 shares during the period. Finally, Capital Asset Advisory Services LLC purchased a new position in shares of Netflix in the 1st quarter valued at approximately $232,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Chairman Reed Hastings sold 25,599 shares of Netflix stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $631.43, for a total value of $16,163,976.57. Following the completion of the sale, the chairman now owns 57 shares of the company’s stock, valued at $35,991.51. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Chairman Reed Hastings sold 25,599 shares of the firm’s stock in a transaction that occurred 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jay C. Hoag sold 43,750 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $687.07, for a total transaction of $30,059,312.50. Following the transaction, the director now directly owns 95,040 shares of the company’s stock, valued at $65,299,132.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 229,711 shares of company stock valued at $153,905,830 in the last quarter. 1.76% of the stock is currently owned by company insiders.

Netflix Stock Performance

Shares of NFLX opened at $754.55 on Friday. Netflix, Inc. has a 1 year low of $395.62 and a 1 year high of $773.00. The company’s 50 day simple moving average is $703.23 and its 200 day simple moving average is $657.75. The company has a market capitalization of $322.54 billion, a price-to-earnings ratio of 42.70, a PEG ratio of 1.48 and a beta of 1.26. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.95 and a current ratio of 1.13.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Piper Sandler restated an “overweight” rating and set a $840.00 price target (up previously from $800.00) on shares of Netflix in a research note on Friday, October 18th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Netflix from $590.00 to $650.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. UBS Group lifted their target price on shares of Netflix from $750.00 to $825.00 and gave the company a “buy” rating in a report on Friday, October 18th. Macquarie reiterated an “outperform” rating and set a $795.00 price target on shares of Netflix in a research note on Friday, October 18th. Finally, TD Cowen raised their price objective on shares of Netflix from $820.00 to $835.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat.com, Netflix currently has an average rating of “Moderate Buy” and a consensus price target of $747.70.

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.