Smith Salley Wealth Management Grows Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Smith Salley Wealth Management increased its holdings in Netflix, Inc. (NASDAQ:NFLX) by 14.7% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,706 shares of the Internet television network’s stock after acquiring an additional 218 shares during the period. Smith Salley Wealth Management’s holdings in Netflix were worth $1,521,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NFLX. State Street Corp lifted its holdings in shares of Netflix by 2.6% in the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after acquiring an additional 426,740 shares during the last quarter. Geode Capital Management LLC raised its position in Netflix by 1.4% in the third quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock valued at $6,464,736,000 after purchasing an additional 123,029 shares during the period. Jennison Associates LLC lifted its stake in Netflix by 4.7% during the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after purchasing an additional 316,594 shares in the last quarter. International Assets Investment Management LLC boosted its position in shares of Netflix by 116,620.0% during the third quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock worth $4,080,522,000 after buying an additional 5,748,200 shares during the period. Finally, Wellington Management Group LLP grew its stake in shares of Netflix by 0.5% in the third quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock valued at $3,473,571,000 after buying an additional 23,702 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. TD Cowen lifted their price objective on shares of Netflix from $820.00 to $835.00 and gave the company a “buy” rating in a report on Friday, October 18th. Bank of America upped their price objective on Netflix from $800.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Needham & Company LLC lifted their target price on Netflix from $700.00 to $800.00 and gave the company a “buy” rating in a report on Friday, October 18th. Jefferies Financial Group upped their price target on Netflix from $780.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Finally, Canaccord Genuity Group lifted their price objective on Netflix from $760.00 to $940.00 and gave the company a “hold” rating in a research note on Monday, December 2nd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Netflix presently has a consensus rating of “Moderate Buy” and a consensus price target of $845.06.

Insider Buying and Selling at Netflix

In other Netflix news, CEO Theodore A. Sarandos sold 1,278 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $767.05, for a total transaction of $980,289.90. Following the sale, the chief executive officer now directly owns 2,556 shares of the company’s stock, valued at $1,960,579.80. This trade represents a 33.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Reed Hastings sold 48,363 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the completion of the transaction, the chairman now directly owns 114 shares of the company’s stock, valued at approximately $102,212.40. This represents a 99.76 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 152,198 shares of company stock worth $127,616,898. 1.76% of the stock is owned by corporate insiders.

Netflix Stock Performance

NASDAQ:NFLX opened at $858.10 on Friday. The firm’s fifty day simple moving average is $884.58 and its 200-day simple moving average is $758.48. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. The stock has a market cap of $366.80 billion, a PE ratio of 48.56, a price-to-earnings-growth ratio of 1.35 and a beta of 1.27. Netflix, Inc. has a fifty-two week low of $476.06 and a fifty-two week high of $941.75.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, topping analysts’ consensus estimates of $5.09 by $0.31. The business had revenue of $9.82 billion for the quarter, compared to analysts’ expectations 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 earnings per share for the current fiscal year.

Netflix Company 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.