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.
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, 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.
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