Pacific Wealth Strategies Group Inc. Buys New Holdings in Netflix, Inc. (NASDAQ:NFLX)

Pacific Wealth Strategies Group Inc. bought a new stake in Netflix, Inc. (NASDAQ:NFLX) during the third quarter, HoldingsChannel reports. The fund bought 358 shares of the Internet television network’s stock, valued at approximately $219,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Freedman Financial Associates Inc. purchased a new stake in Netflix in the second quarter valued at approximately $26,000. Evermay Wealth Management LLC purchased a new stake in Netflix in the second quarter valued at approximately $35,000. MV Capital Management Inc. boosted its position in Netflix by 423.1% in the second quarter. MV Capital Management Inc. now owns 68 shares of the Internet television network’s stock valued at $36,000 after buying an additional 55 shares during the last quarter. Pacifica Partners Inc. boosted its position in Netflix by 126.7% in the third quarter. Pacifica Partners Inc. now owns 68 shares of the Internet television network’s stock valued at $40,000 after buying an additional 38 shares during the last quarter. Finally, Deseret Mutual Benefit Administrators purchased a new stake in Netflix in the second quarter valued at approximately $55,000. Hedge funds and other institutional investors own 79.47% of the company’s stock.

NASDAQ:NFLX traded up $4.23 during trading hours on Thursday, hitting $658.29. The company had a trading volume of 1,866,081 shares, compared to its average volume of 4,033,469. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.97. The company has a 50-day moving average of $640.39 and a 200 day moving average of $565.57. The company has a market cap of $291.59 billion, a P/E ratio of 59.31, a P/E/G ratio of 2.02 and a beta of 0.81. Netflix, Inc. has a 1 year low of $478.54 and a 1 year high of $700.99.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Monday, October 18th. The Internet television network reported $3.19 earnings per share for the quarter, topping analysts’ consensus estimates of $2.56 by $0.63. The business had revenue of $7.48 billion during the quarter, compared to analysts’ expectations of $7.48 billion. Netflix had a return on equity of 38.03% and a net margin of 17.64%. The company’s revenue was up 16.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.74 EPS. On average, analysts forecast that Netflix, Inc. will post 10.62 earnings per share for the current year.

A number of research analysts have issued reports on the company. Stifel Nicolaus boosted their price target on Netflix from $650.00 to $690.00 and gave the company a “buy” rating in a report on Wednesday, October 20th. Cowen boosted their price target on Netflix from $650.00 to $750.00 and gave the company an “outperform” rating in a report on Wednesday, October 20th. UBS Group boosted their price target on Netflix from $620.00 to $720.00 and gave the company a “buy” rating in a report on Monday, October 18th. Citigroup boosted their price target on Netflix from $570.00 to $595.00 and gave the company a “neutral” rating in a report on Thursday, September 2nd. Finally, Credit Suisse Group set a $740.00 price target on Netflix in a report on Wednesday, October 20th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and thirty have given a buy rating to the stock. Based on data from MarketBeat.com, Netflix has a consensus rating of “Buy” and an average price target of $667.70.

In related news, CEO Theodore A. Sarandos sold 69,707 shares of the firm’s stock in a transaction dated Monday, October 4th. The stock was sold at an average price of $625.00, for a total transaction of $43,566,875.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Gregory K. Peters sold 7,058 shares of the firm’s stock in a transaction dated Wednesday, November 17th. The shares were sold at an average price of $700.00, for a total value of $4,940,600.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 132,820 shares of company stock valued at $84,175,491. Company insiders own 3.40% of the company’s stock.

Netflix Profile

Netflix, Inc operates as a streaming entertainment service company. The firm provides subscription service streaming movies and television episodes over the Internet and sending DVDs by mail. It operates through the following segments: Domestic Streaming, International Streaming and Domestic DVD. The Domestic Streaming segment derives revenues from monthly membership fees for services consisting of streaming content to its members in the United States.

Read More: Market Capitalization – What it Means for Investors

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Institutional Ownership by Quarter for Netflix (NASDAQ:NFLX)

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