Evermay Wealth Management LLC Raises Position in Netflix, Inc. $NFLX

Evermay Wealth Management LLC increased its holdings in Netflix, Inc. (NASDAQ:NFLX) by 2.4% during the second quarter, Holdings Channel.com reports. The firm owned 985 shares of the Internet television network’s stock after acquiring an additional 23 shares during the quarter. Evermay Wealth Management LLC’s holdings in Netflix were worth $1,319,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in NFLX. Nuveen LLC purchased a new position in Netflix in the 1st quarter worth $2,385,585,000. Kingstone Capital Partners Texas LLC grew its holdings in Netflix by 343,058.2% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 2,463,876 shares of the Internet television network’s stock worth $3,299,450,000 after acquiring an additional 2,463,158 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Netflix by 57.3% in the first quarter. Goldman Sachs Group Inc. now owns 3,393,064 shares of the Internet television network’s stock valued at $3,164,134,000 after acquiring an additional 1,236,251 shares during the period. Amundi increased its position in shares of Netflix by 37.7% in the first quarter. Amundi now owns 2,070,221 shares of the Internet television network’s stock valued at $1,898,496,000 after acquiring an additional 567,251 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Netflix by 1.4% in the first quarter. Vanguard Group Inc. now owns 37,997,260 shares of the Internet television network’s stock valued at $35,433,585,000 after acquiring an additional 509,255 shares during the period. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Insider Buying and Selling at Netflix

In related news, CEO Gregory K. Peters sold 2,026 shares of the business’s stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $1,157.44, for a total transaction of $2,344,973.44. Following the sale, the chief executive officer owned 12,781 shares of the company’s stock, valued at $14,793,240.64. The trade was a 13.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Reed Hastings sold 42,176 shares of the business’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $1,171.92, for a total transaction of $49,426,897.92. Following the sale, the director directly owned 394 shares in the company, valued at $461,736.48. The trade was a 99.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 104,100 shares of company stock valued at $122,710,980 over the last three months. 1.37% of the stock is currently owned by corporate insiders.

Netflix Trading Up 1.3%

Shares of NFLX opened at $1,199.36 on Monday. The firm’s 50-day moving average price is $1,213.47 and its 200-day moving average price is $1,179.41. The firm has a market capitalization of $509.64 billion, a price-to-earnings ratio of 51.10, a PEG ratio of 2.02 and a beta of 1.59. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.58. Netflix, Inc. has a 1-year low of $736.23 and a 1-year high of $1,341.15.

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

Wall Street Analyst Weigh In

NFLX has been the topic of a number of analyst reports. Zacks Research cut shares of Netflix from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 1st. 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. Seaport Res Ptn upgraded shares of Netflix from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 6th. Jefferies Financial Group restated a “buy” rating on shares of Netflix in a research report on Tuesday, October 14th. Finally, Morgan Stanley set a $1,500.00 price objective on shares of Netflix in a research report on Monday, October 13th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Netflix has a consensus rating of “Moderate Buy” and an average target price 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.