Luts & Greenleigh Group Inc. Increases Position in Netflix, Inc. (NASDAQ:NFLX)

Luts & Greenleigh Group Inc. grew its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 9.1% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 359 shares of the Internet television network’s stock after purchasing an additional 30 shares during the period. Luts & Greenleigh Group Inc.’s holdings in Netflix were worth $255,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of NFLX. Keystone Wealth Services LLC purchased a new stake in shares of Netflix in the 3rd quarter valued at $303,000. Swedbank AB grew its position in Netflix by 1.8% in the 3rd quarter. Swedbank AB now owns 465,208 shares of the Internet television network’s stock valued at $329,958,000 after acquiring an additional 8,024 shares in the last quarter. Creative Planning increased its stake in Netflix by 10.8% during the third quarter. Creative Planning now owns 110,551 shares of the Internet television network’s stock worth $78,410,000 after purchasing an additional 10,782 shares during the period. Wesbanco Bank Inc. lifted its position in shares of Netflix by 12.0% during the third quarter. Wesbanco Bank Inc. now owns 8,979 shares of the Internet television network’s stock worth $6,369,000 after purchasing an additional 964 shares in the last quarter. Finally, Sivia Capital Partners LLC boosted its stake in shares of Netflix by 5.6% in the third quarter. Sivia Capital Partners LLC now owns 1,124 shares of the Internet television network’s stock valued at $797,000 after purchasing an additional 60 shares during the period. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Leslie J. Kilgore sold 383 shares of the stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $730.00, for a total transaction of $279,590.00. Following the completion of the sale, the director now directly owns 35,262 shares of the company’s stock, valued at $25,741,260. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Netflix news, CFO Spencer Adam Neumann sold 433 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $626.19, for a total transaction of $271,140.27. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Leslie J. Kilgore sold 383 shares of the stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $730.00, for a total value of $279,590.00. Following the transaction, the director now directly owns 35,262 shares of the company’s stock, valued at approximately $25,741,260. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 225,167 shares of company stock valued at $150,492,460. Company insiders own 1.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on NFLX. Guggenheim upped their target price on shares of Netflix from $735.00 to $810.00 and gave the stock a “buy” rating in a research note on Friday. Barclays reaffirmed an “underweight” rating and set a $550.00 price objective on shares of Netflix in a research report on Monday, October 7th. Evercore ISI lifted their target price on Netflix from $710.00 to $750.00 and gave the company an “outperform” rating in a report on Tuesday, August 27th. The Goldman Sachs Group boosted their target price on Netflix from $650.00 to $659.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th. Finally, Morgan Stanley increased their price target on Netflix from $780.00 to $820.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $702.79.

Netflix Stock Performance

NASDAQ NFLX traded down $7.02 during trading on Tuesday, reaching $705.98. The company’s stock had a trading volume of 2,929,369 shares, compared to its average volume of 3,641,881. The business’s fifty day moving average price is $688.89 and its 200-day moving average price is $652.34. Netflix, Inc. has a twelve month low of $344.73 and a twelve month high of $736.00. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market cap of $304.28 billion, a price-to-earnings ratio of 48.74, a P/E/G ratio of 1.49 and a beta of 1.26.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.74 by $0.14. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The firm had revenue of $9.56 billion for the quarter, compared to analysts’ expectations of $9.53 billion. During the same quarter in the previous year, the firm posted $3.29 EPS. The firm’s revenue for the quarter was up 16.8% on a year-over-year basis. As a group, analysts anticipate that Netflix, Inc. will post 19.08 EPS for the current fiscal year.

Netflix 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.