Summit Trail Advisors LLC Increases Stock Position in Netflix, Inc. (NASDAQ:NFLX)

by · The Markets Daily

Summit Trail Advisors LLC raised its holdings in Netflix, Inc. (NASDAQ:NFLX – Free Report) by 18.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,151 shares of the Internet television network’s stock after purchasing an additional 800 shares during the period. Summit Trail Advisors LLC’s holdings in Netflix were worth $3,653,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. DigitalBridge Group Inc. lifted its stake in shares of Netflix by 35.5% during the second quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock valued at $24,338,000 after buying an additional 9,451 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Netflix by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,579,404 shares of the Internet television network’s stock valued at $1,829,494,000 after buying an additional 29,726 shares during the period. Natixis Advisors LLC lifted its stake in shares of Netflix by 2.0% during the third quarter. Natixis Advisors LLC now owns 612,458 shares of the Internet television network’s stock valued at $434,398,000 after buying an additional 11,921 shares during the period. Venturi Wealth Management LLC lifted its stake in shares of Netflix by 27.5% during the third quarter. Venturi Wealth Management LLC now owns 3,077 shares of the Internet television network’s stock valued at $2,182,000 after buying an additional 664 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of Netflix by 58.2% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 82,931 shares of the Internet television network’s stock valued at $55,968,000 after buying an additional 30,511 shares during the period. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Insider Transactions at Netflix

In other news, insider David A. Hyman sold 267 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total value of $204,433.89. Following the completion of the sale, the insider now 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Anne M. Sweeney sold 589 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $880.00, for a total transaction of $518,320.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 185,866 shares of company stock valued at $133,393,921. Insiders own 1.76% of the company’s stock.

Netflix Price Performance

NFLX opened at $897.79 on Friday. The company has a fifty day simple moving average of $755.40 and a 200 day simple moving average of $690.93. The firm has a market cap of $383.77 billion, a price-to-earnings ratio of 50.81, a PEG ratio of 1.73 and a beta of 1.25. Netflix, Inc. has a twelve month low of $445.73 and a twelve month high of $908.00. 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 (NASDAQ:NFLX – Get Free Report) last released its earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, topping the consensus estimate of $5.09 by $0.31. The company had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. Equities research analysts expect that Netflix, Inc. will post 19.78 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on NFLX. BMO Capital Markets reissued an “outperform” rating and set a $825.00 price objective (up previously from $770.00) on shares of Netflix in a research note on Friday, October 18th. Piper Sandler reissued an “overweight” rating and set a $840.00 price objective (up previously from $800.00) on shares of Netflix in a research note on Friday, October 18th. Wolfe Research reaffirmed an “outperform” rating on shares of Netflix in a research note on Friday, October 18th. Guggenheim increased their price target on shares of Netflix from $810.00 to $825.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Finally, Barclays reaffirmed an “underweight” rating and set a $550.00 price target on shares of Netflix 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 assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $764.82.

View Our Latest Analysis on Netflix

About Netflix

(Free Report)

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.

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