699 Shares in Netflix, Inc. (NASDAQ:NFLX) Bought by Valley Wealth Managers Inc.

Valley Wealth Managers Inc. purchased a new position in shares of Netflix, Inc. (NASDAQ:NFLX) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 699 shares of the Internet television network’s stock, valued at approximately $496,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Tocqueville Asset Management L.P. grew its position in Netflix by 17.8% in the 1st quarter. Tocqueville Asset Management L.P. now owns 2,719 shares of the Internet television network’s stock valued at $1,651,000 after buying an additional 411 shares during the last quarter. M&G Plc acquired a new stake in shares of Netflix in the 1st quarter valued at approximately $9,682,000. Spirepoint Private Client LLC purchased a new stake in shares of Netflix in the first quarter valued at approximately $237,000. Acadian Asset Management LLC grew its holdings in Netflix by 15.6% during the first quarter. Acadian Asset Management LLC now owns 22,840 shares of the Internet television network’s stock worth $13,868,000 after acquiring an additional 3,077 shares during the period. Finally, Blue Barn Wealth LLC raised its position in Netflix by 5.2% in the first quarter. Blue Barn Wealth LLC now owns 1,287 shares of the Internet television network’s stock worth $782,000 after acquiring an additional 64 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Bank of America upped their price target on shares of Netflix from $740.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Barclays reaffirmed an “underweight” rating and set a $550.00 price target on shares of Netflix in a research note on Friday, October 18th. UBS Group raised 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. Piper Sandler reaffirmed an “overweight” rating and issued a $840.00 price target (up previously from $800.00) on shares of Netflix in a report on Friday, October 18th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Netflix from $750.00 to $850.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Two investment 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $748.15.

Insider Transactions at Netflix

In other news, Director Leslie J. Kilgore sold 1,372 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $704.81, for a total value of $966,999.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $204,433.89. Following the completion of the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $24,202,828.70. The trade was a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 205,084 shares of company stock valued at $146,747,101 over the last quarter. Company insiders own 1.76% of the company’s stock.

Netflix Trading Down 1.6 %

Shares of NFLX stock opened at $823.96 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. Netflix, Inc. has a fifty-two week low of $445.73 and a fifty-two week high of $841.00. The firm’s 50 day moving average price is $735.77 and its two-hundred day moving average price is $679.56. The stock has a market cap of $352.21 billion, a price-to-earnings ratio of 46.63, a price-to-earnings-growth ratio of 1.60 and a beta of 1.25.

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

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.