Cassaday & Co Wealth Management LLC Purchases 131 Shares of Netflix, Inc. (NASDAQ:NFLX)

Cassaday & Co Wealth Management LLC raised its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 4.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,039 shares of the Internet television network’s stock after acquiring an additional 131 shares during the quarter. Cassaday & Co Wealth Management LLC’s holdings in Netflix were worth $2,155,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Holistic Financial Partners boosted its position in Netflix by 2.3% during the 3rd quarter. Holistic Financial Partners now owns 1,877 shares of the Internet television network’s stock valued at $1,331,000 after acquiring an additional 43 shares in the last quarter. Aviso Wealth Management boosted its position in Netflix by 0.5% during the 3rd quarter. Aviso Wealth Management now owns 11,379 shares of the Internet television network’s stock valued at $8,071,000 after acquiring an additional 54 shares in the last quarter. Quest Partners LLC boosted its position in Netflix by 191.8% during the 3rd quarter. Quest Partners LLC now owns 2,760 shares of the Internet television network’s stock valued at $1,958,000 after acquiring an additional 1,814 shares in the last quarter. MAI Capital Management boosted its position in Netflix by 5.6% during the 3rd quarter. MAI Capital Management now owns 60,265 shares of the Internet television network’s stock valued at $42,744,000 after acquiring an additional 3,208 shares in the last quarter. Finally, Aljian Capital Management LLC boosted its position in Netflix by 6.2% during the 3rd quarter. Aljian Capital Management LLC now owns 8,347 shares of the Internet television network’s stock valued at $5,920,000 after acquiring an additional 489 shares in the last quarter. Institutional investors own 80.93% of the company’s stock.

Analyst Upgrades and Downgrades

NFLX has been the topic of several recent research reports. StockNews.com raised Netflix from a “hold” rating to a “buy” rating in a research report on Tuesday, September 24th. China Renaissance began coverage on Netflix in a report on Thursday, September 5th. They set a “hold” rating and a $680.00 price objective for the company. Oppenheimer increased their price objective on Netflix from $775.00 to $825.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Needham & Company LLC increased their price objective on Netflix from $700.00 to $800.00 and gave the company a “buy” rating in a report on Friday, October 18th. Finally, UBS Group increased their price objective on Netflix from $750.00 to $825.00 and gave the company a “buy” rating in a report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $748.15.

Netflix Trading Down 1.6 %

NFLX stock opened at $823.96 on Monday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. Netflix, Inc. has a 12-month low of $445.73 and a 12-month high of $841.00. The stock has a market cap of $352.21 billion, a price-to-earnings ratio of 46.63, a PEG ratio of 1.59 and a beta of 1.25. The business’s 50-day moving average is $735.77 and its 200 day moving average is $681.37.

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

Insider Buying and Selling

In other news, Chairman Reed Hastings sold 45,290 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $706.16, for a total transaction of $31,981,986.40. Following the transaction, the chairman now directly owns 85 shares in the company, valued at $60,023.60. The trade was a 99.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Gregory K. Peters sold 4,644 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $700.00, for a total value of $3,250,800.00. Following the transaction, the chief executive officer now owns 13,090 shares in the company, valued at approximately $9,163,000. This represents a 26.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 205,084 shares of company stock worth $146,747,101. Insiders own 1.76% of the company’s stock.

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.