Cetera Advisor Networks LLC Boosts Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Cetera Advisor Networks LLC lifted its stake in Netflix, Inc. (NASDAQ:NFLX) by 0.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,086 shares of the Internet television network’s stock after acquiring an additional 186 shares during the period. Cetera Advisor Networks LLC’s holdings in Netflix were worth $20,094,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Ballentine Partners LLC increased its holdings in shares of Netflix by 24.1% in the fourth quarter. Ballentine Partners LLC now owns 5,093 shares of the Internet television network’s stock worth $2,480,000 after purchasing an additional 988 shares during the period. PFG Advisors bought a new position in Netflix in the 4th quarter worth about $227,000. DAVENPORT & Co LLC raised its holdings in shares of Netflix by 4.0% in the 4th quarter. DAVENPORT & Co LLC now owns 7,415 shares of the Internet television network’s stock valued at $3,610,000 after acquiring an additional 286 shares in the last quarter. Venturi Wealth Management LLC boosted its position in shares of Netflix by 2.1% during the 4th quarter. Venturi Wealth Management LLC now owns 1,432 shares of the Internet television network’s stock valued at $697,000 after acquiring an additional 30 shares during the last quarter. Finally, Trust Point Inc. purchased a new position in shares of Netflix during the fourth quarter worth about $1,141,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Netflix news, CEO Gregory K. Peters sold 4,783 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $675.00, for a total transaction of $3,228,525.00. Following the completion of the transaction, the chief executive officer now owns 13,090 shares of the company’s stock, valued at $8,835,750. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Netflix news, CEO Gregory K. Peters sold 4,783 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $675.00, for a total transaction of $3,228,525.00. Following the completion of the transaction, the chief executive officer now owns 13,090 shares of the company’s stock, valued at $8,835,750. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Reed Hastings sold 25,599 shares of Netflix stock in a transaction that occurred 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 transaction, the chairman now owns 57 shares of the company’s stock, 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 in the last quarter. 1.76% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

NFLX has been the subject of several research analyst reports. Citigroup lifted their target price on shares of Netflix from $660.00 to $675.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Benchmark lifted their price objective on shares of Netflix from $450.00 to $545.00 and gave the stock a “sell” rating in a report on Tuesday, July 16th. Morgan Stanley increased their target price on Netflix from $700.00 to $780.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Canaccord Genuity Group reaffirmed a “hold” rating and set a $585.00 price target (down previously from $720.00) on shares of Netflix in a research note on Friday, April 19th. Finally, Barclays increased their price objective on Netflix from $475.00 to $550.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $681.21.

Netflix Trading Down 1.8 %

NASDAQ NFLX traded down $11.21 during trading on Friday, hitting $613.64. The company had a trading volume of 3,523,003 shares, compared to its average volume of 3,930,496. The company’s fifty day moving average is $656.10 and its 200-day moving average is $613.76. Netflix, Inc. has a one year low of $344.73 and a one year high of $697.49. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. The company has a market cap 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.

Netflix (NASDAQ:NFLX) last released 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 company had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $9.53 billion. Netflix had a net margin of 19.54% and a return on equity of 32.93%. Netflix’s revenue was up 16.8% on a year-over-year basis. During the same period in the prior year, the firm earned $3.29 earnings per share. On average, sell-side analysts predict that Netflix, Inc. will post 19.08 earnings per share for the current year.

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.