Cetera Investment Advisers Raises Stake in Netflix, Inc. (NASDAQ:NFLX)

Cetera Investment Advisers lifted its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 126.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 92,315 shares of the Internet television network’s stock after purchasing an additional 51,513 shares during the quarter. Cetera Investment Advisers’ holdings in Netflix were worth $56,065,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Ballentine Partners LLC raised its position in shares of Netflix by 24.1% during the 4th quarter. Ballentine Partners LLC now owns 5,093 shares of the Internet television network’s stock worth $2,480,000 after acquiring an additional 988 shares in the last quarter. PFG Advisors acquired a new position in shares of Netflix in the fourth quarter worth $227,000. Parsons Capital Management Inc. RI raised its holdings in shares of Netflix by 2.7% in the fourth quarter. Parsons Capital Management Inc. RI now owns 947 shares of the Internet television network’s stock worth $461,000 after acquiring an additional 25 shares during the last quarter. Pinnacle Financial Partners Inc increased its stake in Netflix by 6.3% in the fourth quarter. Pinnacle Financial Partners Inc now owns 6,081 shares of the Internet television network’s stock valued at $2,961,000 after purchasing an additional 358 shares during the last quarter. Finally, Stonegate Investment Group LLC increased its stake in Netflix by 24.0% in the fourth quarter. Stonegate Investment Group LLC now owns 1,040 shares of the Internet television network’s stock valued at $506,000 after purchasing an additional 201 shares during the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, 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 transaction of $16,163,976.57. Following the completion of the transaction, the chairman now owns 57 shares in the company, valued at $35,991.51. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Gregory K. Peters sold 4,783 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $675.00, for a total value of $3,228,525.00. Following the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at $8,835,750. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Reed Hastings sold 25,599 shares of the stock in a transaction dated 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 owns 57 shares in the company, valued at $35,991.51. The disclosure for this sale can be found here. Insiders sold a total of 73,415 shares of company stock worth $47,477,222 over the last three months. 1.76% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Rosenblatt Securities increased their target price on Netflix from $554.00 to $635.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Guggenheim increased their target price on Netflix from $700.00 to $735.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. TD Cowen increased their target price on Netflix from $725.00 to $775.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. Morgan Stanley raised their price target on Netflix from $700.00 to $780.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Finally, Evercore ISI raised their target price on Netflix from $700.00 to $710.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat, Netflix has an average rating of “Moderate Buy” and a consensus target price of $681.21.

Netflix Trading Down 1.8 %

Shares of NFLX traded down $11.21 during trading hours on Friday, reaching $613.64. 3,523,003 shares of the company traded hands, compared to its average volume of 3,930,496. The company’s fifty day moving average price is $656.10 and its two-hundred day moving average price is $612.84. The company has a market capitalization of $263.36 billion, a price-to-earnings ratio of 42.58, a price-to-earnings-growth ratio of 1.28 and a beta of 1.27. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.55. Netflix, Inc. has a 12 month low of $344.73 and a 12 month high of $697.49.

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