Abner Herrman & Brock LLC Takes Position in Netflix, Inc. (NASDAQ:NFLX)

Abner Herrman & Brock LLC bought a new stake in Netflix, Inc. (NASDAQ:NFLX) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 43,428 shares of the Internet television network’s stock, valued at approximately $19,130,000. Netflix accounts for approximately 2.8% of Abner Herrman & Brock LLC’s portfolio, making the stock its 14th biggest position.

A number of other institutional investors have also modified their holdings of NFLX. Baldrige Asset Management LLC grew its position in Netflix by 156.3% in the 1st quarter. Baldrige Asset Management LLC now owns 82 shares of the Internet television network’s stock valued at $28,000 after buying an additional 50 shares during the last quarter. Tanglewood Legacy Advisors LLC purchased a new position in Netflix in the 4th quarter valued at $29,000. Barrett & Company Inc. purchased a new position in Netflix in the 1st quarter valued at $29,000. Manchester Capital Management LLC grew its position in Netflix by 8,700.0% in the 1st quarter. Manchester Capital Management LLC now owns 88 shares of the Internet television network’s stock valued at $30,000 after buying an additional 87 shares during the last quarter. Finally, Retirement Group LLC grew its position in Netflix by 52.6% in the 1st quarter. Retirement Group LLC now owns 87 shares of the Internet television network’s stock valued at $30,000 after buying an additional 30 shares during the last quarter. 79.95% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

NFLX has been the topic of a number of analyst reports. Rosenblatt Securities lifted their price objective on shares of Netflix from $358.00 to $400.00 and gave the company a “neutral” rating in a research report on Thursday, July 20th. Pivotal Research boosted their target price on shares of Netflix from $535.00 to $600.00 in a research report on Thursday, July 20th. Robert W. Baird upgraded shares of Netflix from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $340.00 to $500.00 in a research report on Monday, July 24th. Piper Sandler boosted their target price on shares of Netflix from $350.00 to $440.00 in a research report on Thursday, July 20th. Finally, Evercore ISI boosted their target price on shares of Netflix from $400.00 to $550.00 and gave the stock an “outperform” rating in a research report on Thursday, July 20th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat.com, Netflix presently has a consensus rating of “Moderate Buy” and a consensus price target of $432.91.

Insider Activity

In other news, Director Timothy M. Haley sold 1,022 shares of the company’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $450.19, for a total transaction of $460,094.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Richard N. Barton sold 500 shares of the stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $443.07, for a total transaction of $221,535.00. Following the completion of the sale, the director now owns 152 shares of the company’s stock, valued at approximately $67,346.64. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Timothy M. Haley sold 1,022 shares of the stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $450.19, for a total transaction of $460,094.18. The disclosure for this sale can be found here. Insiders sold a total of 125,377 shares of company stock valued at $54,547,674 in the last 90 days. 2.45% of the stock is currently owned by insiders.

Netflix Trading Down 1.2 %

Shares of NASDAQ NFLX traded down $5.14 on Thursday, reaching $407.10. 4,171,037 shares of the company traded hands, compared to its average volume of 6,967,896. Netflix, Inc. has a fifty-two week low of $211.73 and a fifty-two week high of $485.00. The company has a 50 day moving average of $433.17 and a 200 day moving average of $382.84. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $180.41 billion, a PE ratio of 43.90, a P/E/G ratio of 1.47 and a beta of 1.29.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Wednesday, July 19th. The Internet television network reported $3.29 EPS for the quarter, beating analysts’ consensus estimates of $2.85 by $0.44. Netflix had a net margin of 13.22% and a return on equity of 19.76%. The company had revenue of $8.19 billion during the quarter, compared to the consensus estimate of $8.29 billion. During the same quarter in the prior year, the company posted $3.20 EPS. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, equities research analysts forecast that Netflix, Inc. will post 11.92 earnings per share for the current fiscal year.

Netflix Company Profile

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and mobile games across various genres and languages. The company provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, television set-top boxes, and mobile devices.