Netflix, Inc. $NFLX Stock Holdings Increased by Cidel Asset Management Inc.

Cidel Asset Management Inc. increased its holdings in Netflix, Inc. (NASDAQ:NFLX) by 25.3% during the second quarter, Holdings Channel reports. The firm owned 673 shares of the Internet television network’s stock after purchasing an additional 136 shares during the period. Cidel Asset Management Inc.’s holdings in Netflix were worth $901,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Stephens Consulting LLC raised its holdings in shares of Netflix by 150.0% during the second quarter. Stephens Consulting LLC now owns 25 shares of the Internet television network’s stock valued at $33,000 after acquiring an additional 15 shares during the period. Flaharty Asset Management LLC acquired a new stake in shares of Netflix during the first quarter valued at approximately $37,000. Maseco LLP acquired a new stake in shares of Netflix during the second quarter valued at approximately $39,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of Netflix during the first quarter valued at approximately $42,000. Finally, 1248 Management LLC acquired a new stake in shares of Netflix during the first quarter valued at approximately $43,000. 80.93% of the stock is currently owned by institutional investors.

Netflix Stock Performance

NFLX stock opened at $1,199.36 on Monday. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $509.64 billion, a price-to-earnings ratio of 51.10, a P/E/G ratio of 2.02 and a beta of 1.59. Netflix, Inc. has a 12 month low of $736.23 and a 12 month high of $1,341.15. The firm has a 50 day moving average of $1,213.47 and a two-hundred day moving average of $1,179.41.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, topping the consensus estimate of $7.07 by $0.12. The company had revenue of $11.08 billion during the quarter, compared to the consensus estimate of $11.04 billion. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The company’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.88 earnings per share. As a group, equities analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Insider Buying and Selling

In other Netflix news, Director Reed Hastings sold 42,176 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $1,171.92, for a total value of $49,426,897.92. Following the completion of the sale, the director directly owned 394 shares of the company’s stock, valued at $461,736.48. The trade was a 99.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Spencer Adam Neumann sold 2,600 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $1,172.51, for a total transaction of $3,048,526.00. Following the completion of the sale, the chief financial officer directly owned 3,691 shares of the company’s stock, valued at $4,327,734.41. This represents a 41.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 104,100 shares of company stock valued at $122,710,980. 1.37% of the stock is owned by company insiders.

Analysts Set New Price Targets

NFLX has been the topic of a number of recent analyst reports. Needham & Company LLC restated a “buy” rating and set a $1,500.00 price target on shares of Netflix in a report on Wednesday, September 10th. Itau BBA Securities assumed coverage on shares of Netflix in a report on Tuesday, October 7th. They set an “outperform” rating and a $1,514.00 price target on the stock. Barclays reaffirmed a “sell” rating and set a $1,100.00 price objective (up from $1,000.00) on shares of Netflix in a research report on Wednesday, July 9th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Netflix in a research report on Wednesday, October 8th. Finally, Wells Fargo & Company boosted their price objective on shares of Netflix from $1,500.00 to $1,560.00 and gave the company an “overweight” rating in a research report on Friday, July 18th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,339.81.

Netflix Company 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.