B. Riley Wealth Advisors Inc. raised its position in Netflix, Inc. (NASDAQ:NFLX – Get Rating) by 35.1% in the third quarter, HoldingsChannel.com reports. The fund owned 17,941 shares of the Internet television network’s stock after purchasing an additional 4,658 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Netflix were worth $4,135,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently added to or reduced their stakes in the company. Carolinas Wealth Consulting LLC raised its position in shares of Netflix by 27.6% in the third quarter. Carolinas Wealth Consulting LLC now owns 162 shares of the Internet television network’s stock valued at $38,000 after purchasing an additional 35 shares during the period. Paragon Wealth Strategies LLC bought a new position in shares of Netflix in the third quarter valued at about $47,000. Gordian Capital Singapore Pte Ltd raised its position in shares of Netflix by 20,000.0% in the second quarter. Gordian Capital Singapore Pte Ltd now owns 201 shares of the Internet television network’s stock valued at $35,000 after purchasing an additional 200 shares during the period. Stonebridge Capital Advisors LLC raised its position in shares of Netflix by 163.6% in the third quarter. Stonebridge Capital Advisors LLC now owns 203 shares of the Internet television network’s stock valued at $48,000 after purchasing an additional 126 shares during the period. Finally, Old North State Trust LLC bought a new position in shares of Netflix in the third quarter valued at about $51,000. Institutional investors and hedge funds own 77.26% of the company’s stock.
Analysts Set New Price Targets
A number of equities analysts recently commented on the stock. Citigroup raised their price target on shares of Netflix from $395.00 to $400.00 and gave the stock a “buy” rating in a research report on Thursday. Guggenheim lifted their target price on shares of Netflix from $305.00 to $375.00 and gave the stock a “buy” rating in a research report on Friday, January 20th. Rosenblatt Securities boosted their price target on shares of Netflix from $226.00 to $343.00 and gave the stock a “neutral” rating in a research report on Friday, January 20th. StockNews.com initiated coverage on shares of Netflix in a research note on Thursday. They issued a “hold” rating for the company. Finally, Barclays lifted their price objective on shares of Netflix from $235.00 to $250.00 and gave the company an “equal weight” rating in a research note on Friday, January 20th. Three equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $343.13.
Netflix Trading Up 2.1 %
Netflix (NASDAQ:NFLX – Get Rating) last announced its quarterly earnings data on Thursday, January 19th. The Internet television network reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.35). The firm had revenue of $7.85 billion during the quarter, compared to analyst estimates of $7.85 billion. Netflix had a net margin of 14.21% and a return on equity of 23.06%. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.33 earnings per share. On average, research analysts predict that Netflix, Inc. will post 11.18 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, Director Jay C. Hoag sold 3,698 shares of the firm’s stock in a transaction dated Tuesday, January 31st. The stock was sold at an average price of $352.94, for a total transaction of $1,305,172.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.39% of the stock is owned by corporate insiders.
Netflix, Inc engages in providing entertainment services. It also offers a broad set of activities for leisure time, entertainment video, video gaming, and other sources of entertainment. It operates through the United States and International geographic segments. The company was founded by Marc Randolph and Wilmot Reed Hastings on August 29, 1997 and is headquartered in Los Gatos, CA.
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