Mattern Wealth Management LLC Invests $202,000 in Netflix, Inc. (NASDAQ:NFLX)

Mattern Wealth Management LLC purchased a new stake in Netflix, Inc. (NASDAQ:NFLX) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 285 shares of the Internet television network’s stock, valued at approximately $202,000.

Several other hedge funds and other institutional investors have also bought and sold shares of NFLX. Denver PWM LLC bought a new stake in shares of Netflix during the 2nd quarter valued at $25,000. Valued Wealth Advisors LLC raised its stake in Netflix by 80.0% in the first quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock valued at $27,000 after purchasing an additional 20 shares in the last quarter. Proffitt & Goodson Inc. lifted its position in Netflix by 380.0% during the second quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock worth $32,000 after purchasing an additional 38 shares during the period. AlphaMark Advisors LLC grew its stake in Netflix by 642.9% during the second quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock worth $35,000 after buying an additional 45 shares in the last quarter. Finally, Indiana Trust & Investment Management CO increased its holdings in Netflix by 112.0% in the 1st quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock valued at $32,000 after buying an additional 28 shares during the period. Institutional investors and hedge funds own 80.93% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on NFLX. Citigroup increased their price target on shares of Netflix from $660.00 to $675.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Pivotal Research raised their target price on Netflix from $900.00 to $925.00 and gave the company a “buy” rating in a report on Friday. Jefferies Financial Group boosted their price target on Netflix from $780.00 to $800.00 and gave the stock a “buy” rating in a report on Friday. BMO Capital Markets restated an “outperform” rating and set a $825.00 price objective (up from $770.00) on shares of Netflix in a research report on Friday. Finally, Wedbush lifted their target price on Netflix from $725.00 to $775.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Netflix currently has an average rating of “Moderate Buy” and an average target price of $747.70.

Insider Activity

In related news, Chairman Reed Hastings sold 45,290 shares of the stock in a transaction on Tuesday, October 1st. The shares were 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 of the company’s stock, valued at $60,023.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Netflix news, Chairman Reed Hastings sold 45,290 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $706.16, for a total value of $31,981,986.40. Following the transaction, the chairman now owns 85 shares in the company, valued at approximately $60,023.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Leslie J. Kilgore sold 358 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $765.00, for a total value of $273,870.00. Following the sale, the director now owns 35,262 shares of the company’s stock, valued at approximately $26,975,430. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 229,711 shares of company stock worth $153,905,830 in the last quarter. 1.76% of the stock is owned by corporate insiders.

Netflix Trading Down 0.8 %

NFLX stock traded down $6.39 during mid-day trading on Tuesday, reaching $765.68. The company’s stock had a trading volume of 1,268,231 shares, compared to its average volume of 3,722,823. Netflix, Inc. has a 12 month low of $395.62 and a 12 month high of $773.00. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. The business’s 50 day moving average price is $699.16 and its 200 day moving average price is $656.21. The company has a market cap of $330.01 billion, a price-to-earnings ratio of 53.21, a price-to-earnings-growth ratio of 1.49 and a beta of 1.26.

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.