Kingsview Wealth Management LLC Boosts Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Kingsview Wealth Management LLC increased its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 9.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 53,191 shares of the Internet television network’s stock after purchasing an additional 4,571 shares during the period. Netflix makes up approximately 0.8% of Kingsview Wealth Management LLC’s portfolio, making the stock its 24th largest position. Kingsview Wealth Management LLC’s holdings in Netflix were worth $37,727,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Denver PWM LLC purchased a new position in Netflix in the second quarter valued at about $25,000. Proffitt & Goodson Inc. increased its holdings in Netflix by 380.0% in the second quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock valued at $32,000 after buying an additional 38 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. increased its holdings in Netflix by 700.0% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock valued at $34,000 after buying an additional 42 shares in the last quarter. AlphaMark Advisors LLC increased its holdings in Netflix by 642.9% in the second quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock valued at $35,000 after buying an additional 45 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. purchased a new position in Netflix in the third quarter valued at about $37,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Netflix

In related news, Director Anne M. Sweeney sold 589 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $880.00, for a total value of $518,320.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Reed Hastings sold 25,074 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $680.92, for a total transaction of $17,073,388.08. Following the completion of the transaction, the chairman now owns 85 shares in the company, valued at approximately $57,878.20. This represents a 99.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 185,866 shares of company stock valued at $133,393,921 over the last ninety days. Insiders own 1.76% of the company’s stock.

Netflix Trading Up 0.0 %

NASDAQ NFLX opened at $897.79 on Friday. Netflix, Inc. has a one year low of $445.73 and a one year high of $908.00. The company has a 50-day simple moving average of $755.40 and a 200-day simple moving average of $690.34. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13. The firm has a market capitalization of $383.77 billion, a PE ratio of 50.81, a price-to-earnings-growth ratio of 1.73 and a beta of 1.25.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.09 by $0.31. The firm had revenue of $9.82 billion during the quarter, compared to analyst estimates of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. On average, equities analysts forecast that Netflix, Inc. will post 19.78 earnings per share for the current year.

Wall Street Analyst Weigh In

NFLX has been the topic of several research reports. Bank of America increased their price target on shares of Netflix from $800.00 to $1,000.00 and gave the company a “buy” rating in a research report on Thursday. The Goldman Sachs Group set a $750.00 target price on shares of Netflix in a research report on Friday, October 18th. Guggenheim raised their target price on shares of Netflix from $810.00 to $825.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Jefferies Financial Group raised their target price on shares of Netflix from $780.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Finally, KeyCorp raised their target price on shares of Netflix from $760.00 to $785.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $764.82.

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.