Meridian Wealth Management LLC Increases Stake in Netflix, Inc. (NASDAQ:NFLX)

Meridian Wealth Management LLC increased its stake in Netflix, Inc. (NASDAQ:NFLX) by 4.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,515 shares of the Internet television network’s stock after buying an additional 265 shares during the period. Meridian Wealth Management LLC’s holdings in Netflix were worth $4,621,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. DigitalBridge Group Inc. grew its holdings in Netflix by 35.5% during the 2nd quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock worth $24,338,000 after acquiring an additional 9,451 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Netflix by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,579,404 shares of the Internet television network’s stock worth $1,829,494,000 after acquiring an additional 29,726 shares in the last quarter. Natixis Advisors LLC grew its holdings in Netflix by 2.0% during the 3rd quarter. Natixis Advisors LLC now owns 612,458 shares of the Internet television network’s stock worth $434,398,000 after acquiring an additional 11,921 shares in the last quarter. Venturi Wealth Management LLC grew its holdings in Netflix by 27.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 3,077 shares of the Internet television network’s stock worth $2,182,000 after acquiring an additional 664 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Netflix by 58.2% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 82,931 shares of the Internet television network’s stock worth $55,968,000 after acquiring an additional 30,511 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on NFLX. Jefferies Financial Group raised their price target on shares of Netflix from $780.00 to $800.00 and gave the company a “buy” rating in a report on Friday, October 18th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Netflix from $590.00 to $650.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. China Renaissance started coverage on shares of Netflix in a research note on Thursday, September 5th. They issued a “hold” rating and a $680.00 target price for the company. The Goldman Sachs Group set a $750.00 target price on shares of Netflix in a research note on Friday, October 18th. Finally, Wells Fargo & Company lifted their target price on shares of Netflix from $758.00 to $797.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $764.82.

Insider Activity at Netflix

In other Netflix news, Chairman Reed Hastings sold 45,290 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $706.16, for a total value of $31,981,986.40. Following the sale, the chairman now directly owns 85 shares of the company’s stock, valued at approximately $60,023.60. This trade represents a 99.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Anne M. Sweeney sold 589 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $880.00, for a total value of $518,320.00. The disclosure for this sale can be found here. Insiders have sold a total of 185,866 shares of company stock valued at $133,393,921 over the last quarter. Insiders own 1.76% of the company’s stock.

Netflix Trading Up 0.0 %

Shares of NFLX stock opened at $897.88 on Friday. Netflix, Inc. has a fifty-two week low of $445.73 and a fifty-two week high of $908.00. The stock has a market cap of $383.81 billion, a P/E ratio of 50.71, a P/E/G ratio of 1.68 and a beta of 1.25. The business has a fifty day simple moving average of $751.39 and a 200-day simple moving average of $688.25. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, beating analysts’ consensus estimates of $5.09 by $0.31. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The business had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.77 billion. On average, analysts forecast that Netflix, Inc. will post 19.78 earnings per share for the current fiscal year.

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.