BIP Wealth LLC Acquires New Position in Netflix, Inc. (NASDAQ:NFLX)

BIP Wealth LLC bought a new position in shares of Netflix, Inc. (NASDAQ:NFLX) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 366 shares of the Internet television network’s stock, valued at approximately $260,000.

Other hedge funds have also bought and sold shares of the company. New World Advisors LLC raised its stake in Netflix by 2.0% in the 3rd quarter. New World Advisors LLC now owns 724 shares of the Internet television network’s stock worth $514,000 after acquiring an additional 14 shares during the last quarter. Heartland Bank & Trust Co raised its stake in shares of Netflix by 0.9% in the second quarter. Heartland Bank & Trust Co now owns 1,770 shares of the Internet television network’s stock worth $1,195,000 after purchasing an additional 15 shares during the last quarter. Cedrus LLC raised its stake in shares of Netflix by 0.8% in the third quarter. Cedrus LLC now owns 1,781 shares of the Internet television network’s stock worth $1,263,000 after purchasing an additional 15 shares during the last quarter. Capstone Triton Financial Group LLC lifted its holdings in shares of Netflix by 0.6% during the third quarter. Capstone Triton Financial Group LLC now owns 2,421 shares of the Internet television network’s stock worth $1,717,000 after purchasing an additional 15 shares during the period. Finally, Meritas Wealth Management LLC boosted its position in Netflix by 2.9% in the third quarter. Meritas Wealth Management LLC now owns 573 shares of the Internet television network’s stock valued at $406,000 after buying an additional 16 shares during the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Trading Up 2.9 %

NFLX opened at $871.32 on Wednesday. The firm has a market capitalization of $372.45 billion, a price-to-earnings ratio of 49.31, a price-to-earnings-growth ratio of 1.59 and a beta of 1.25. The company’s 50 day simple moving average is $743.15 and its two-hundred day simple moving average is $685.41. Netflix, Inc. has a 1-year low of $445.73 and a 1-year high of $874.49. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data 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. The firm had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.77 billion. Netflix had a return on equity of 35.86% and a net margin of 20.70%. Analysts expect that Netflix, Inc. will post 19.78 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on NFLX shares. Wedbush reissued an “outperform” rating and set a $950.00 price target (up from $800.00) on shares of Netflix in a research report on Monday. Needham & Company LLC upped their price target on shares of Netflix from $700.00 to $800.00 and gave the company a “buy” rating in a report on Friday, October 18th. The Goldman Sachs Group set a $750.00 price objective on Netflix in a report on Friday, October 18th. Canaccord Genuity Group raised 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. Finally, Oppenheimer boosted their price target on Netflix from $775.00 to $825.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $753.45.

Insider Activity at Netflix

In other news, Director Timothy M. Haley sold 11,090 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $757.96, for a total value of $8,405,776.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider David A. Hyman sold 267 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total value of $204,433.89. Following the transaction, the insider now owns 31,610 shares of the company’s stock, valued at approximately $24,202,828.70. This represents a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 185,277 shares of company stock valued at $132,875,601. 1.76% of the stock is owned by company insiders.

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.