LifeSteps Financial Inc. Acquires Shares of 291 Netflix, Inc. (NASDAQ:NFLX)

LifeSteps Financial Inc. bought a new position in Netflix, Inc. (NASDAQ:NFLX) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 291 shares of the Internet television network’s stock, valued at approximately $206,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Denver PWM LLC purchased a new position in Netflix in the 2nd quarter worth approximately $25,000. Valued Wealth Advisors LLC raised its stake in shares of Netflix by 80.0% in the first quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock worth $27,000 after purchasing an additional 20 shares during the last quarter. Scarborough Advisors LLC bought a new position in shares of Netflix during the fourth quarter valued at $32,000. Indiana Trust & Investment Management CO boosted its position in shares of Netflix by 112.0% during the first 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 last quarter. Finally, Proffitt & Goodson Inc. increased its holdings in Netflix by 380.0% in the 2nd quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock worth $32,000 after buying an additional 38 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors.

Netflix Price Performance

NFLX traded down $5.69 during trading on Thursday, reaching $696.31. 2,838,716 shares of the company traded hands, compared to its average volume of 3,632,196. The company has a market cap of $300.11 billion, a P/E ratio of 48.07, a PEG ratio of 1.49 and a beta of 1.26. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95. Netflix, Inc. has a 12-month low of $344.73 and a 12-month high of $736.00. The firm has a fifty day simple moving average of $692.63 and a 200 day simple moving average of $653.38.

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

Insider Buying and Selling at Netflix

In other news, insider David A. Hyman sold 20,656 shares of Netflix stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total value of $12,499,565.28. Following the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $19,128,159.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Netflix news, Chairman Reed Hastings sold 25,599 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $631.43, for a total transaction of $16,163,976.57. Following the completion of the transaction, the chairman now owns 57 shares in the company, valued at $35,991.51. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider David A. Hyman sold 20,656 shares of Netflix stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the completion of the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at $19,128,159.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 225,167 shares of company stock valued at $150,492,460 in the last 90 days. Insiders own 1.76% of the company’s stock.

Wall Street Analyst Weigh In

NFLX has been the topic of several research analyst reports. JPMorgan Chase & Co. restated an “overweight” rating and set a $750.00 target price on shares of Netflix in a research note on Tuesday, October 8th. Sanford C. Bernstein increased their price objective on shares of Netflix from $600.00 to $625.00 and gave the company a “market perform” rating in a research report on Friday, July 19th. Bank of America lifted their target price on shares of Netflix from $700.00 to $740.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Redburn Atlantic increased their price target on Netflix from $740.00 to $760.00 and gave the company a “buy” rating in a report on Friday, July 19th. Finally, Oppenheimer lifted their price objective on Netflix from $725.00 to $775.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Two research 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. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $704.26.

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.