Integrated Wealth Concepts LLC Boosts Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Integrated Wealth Concepts LLC raised its position in Netflix, Inc. (NASDAQ:NFLX) by 1.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,977 shares of the Internet television network’s stock after purchasing an additional 178 shares during the period. Integrated Wealth Concepts LLC’s holdings in Netflix were worth $7,786,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Denver PWM LLC purchased a new stake in Netflix during the 2nd quarter worth $25,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of Netflix in the 3rd quarter valued at about $25,000. Proffitt & Goodson Inc. raised its stake in Netflix by 380.0% during 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. raised its holdings in shares of Netflix by 700.0% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after purchasing an additional 42 shares during the period. Finally, AlphaMark Advisors LLC lifted its holdings in shares of Netflix by 642.9% in the 2nd quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock worth $35,000 after purchasing an additional 45 shares during the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Netflix

In other news, insider David A. Hyman sold 267 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total transaction of $204,433.89. Following the transaction, the insider now owns 31,610 shares in the company, valued at approximately $24,202,828.70. This trade represents a 0.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jay C. Hoag sold 43,750 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $687.07, for a total value of $30,059,312.50. Following the completion of the sale, the director now owns 95,040 shares of the company’s stock, valued at $65,299,132.80. This trade represents a 31.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 209,155 shares of company stock worth $159,682,799 over the last ninety days. Insiders own 1.76% of the company’s stock.

Netflix Price Performance

Shares of NFLX opened at $902.17 on Wednesday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. The company’s fifty day simple moving average is $780.46 and its 200 day simple moving average is $704.75. Netflix, Inc. has a 1-year low of $445.73 and a 1-year high of $908.00. The company has a market cap of $385.64 billion, a price-to-earnings ratio of 51.06, a PEG ratio of 1.73 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last issued 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. Netflix had a net margin of 20.70% and a return on equity of 35.86%. The company had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.77 billion. On average, research analysts forecast that Netflix, Inc. will post 19.78 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Bank of America boosted their target price on shares of Netflix from $800.00 to $1,000.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Loop Capital increased their price objective on Netflix from $750.00 to $800.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. StockNews.com raised Netflix from a “hold” rating to a “buy” rating in a research note on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft increased their price target on Netflix from $590.00 to $650.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Finally, China Renaissance initiated coverage on shares of Netflix in a research note on Thursday, September 5th. They set a “hold” rating and a $680.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat, Netflix currently has a consensus rating of “Moderate Buy” and a consensus price target of $775.58.

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.