Frisch Financial Group Inc. Makes New Investment in Netflix, Inc. (NASDAQ:NFLX)

by · The Cerbat Gem

Frisch Financial Group Inc. purchased a new position in shares of Netflix, Inc. (NASDAQ:NFLX – Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 477 shares of the Internet television network’s stock, valued at approximately $210,000.

Other hedge funds also recently modified their holdings of the company. Barrett & Company Inc. acquired a new stake in shares of Netflix during the first quarter worth about $29,000. Manchester Capital Management LLC grew its holdings in shares of Netflix by 8,700.0% during the first quarter. Manchester Capital Management LLC now owns 88 shares of the Internet television network’s stock worth $30,000 after buying an additional 87 shares in the last quarter. Retirement Group LLC grew its holdings in shares of Netflix by 52.6% during the first quarter. Retirement Group LLC now owns 87 shares of the Internet television network’s stock worth $30,000 after buying an additional 30 shares in the last quarter. Silicon Valley Capital Partners grew its holdings in shares of Netflix by 80.0% during the first quarter. Silicon Valley Capital Partners now owns 90 shares of the Internet television network’s stock worth $31,000 after buying an additional 40 shares in the last quarter. Finally, Nordwand Advisors LLC bought a new position in shares of Netflix during the first quarter worth about $35,000. Institutional investors and hedge funds own 79.95% of the company’s stock.

Insider Buying and Selling

In other news, Director Richard N. Barton sold 500 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $435.00, for a total value of $217,500.00. Following the completion of the transaction, the director now directly owns 152 shares of the company’s stock, valued at $66,120. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Netflix news, Chairman Reed Hastings sold 17,717 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $380.20, for a total transaction of $6,736,003.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard N. Barton sold 500 shares of the stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $435.00, for a total value of $217,500.00. Following the transaction, the director now directly owns 152 shares of the company’s stock, valued at $66,120. The disclosure for this sale can be found here. In the last three months, insiders have sold 134,563 shares of company stock valued at $57,388,283. 2.45% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on NFLX shares. JPMorgan Chase & Co. increased their price objective on Netflix from $455.00 to $480.00 and gave the stock an “overweight” rating in a report on Thursday, October 19th. Oppenheimer raised their price target on Netflix from $470.00 to $475.00 and gave the company an “outperform” rating in a research note on Thursday, October 19th. Evercore ISI decreased their price target on Netflix from $550.00 to $500.00 and set an “outperform” rating for the company in a research note on Monday, September 18th. Wedbush restated an “outperform” rating and issued a $525.00 price target on shares of Netflix in a research note on Thursday, October 19th. Finally, Wells Fargo & Company reduced their target price on Netflix from $500.00 to $460.00 and set an “overweight” rating for the company in a research note on Monday, October 16th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $441.20.

Get Our Latest Research Report on NFLX

Netflix Trading Down 0.5 %

Shares of NASDAQ:NFLX traded down $2.19 during midday trading on Thursday, reaching $475.00. The company’s stock had a trading volume of 640,053 shares, compared to its average volume of 6,593,361. The firm has a market capitalization of $207.90 billion, a price-to-earnings ratio of 47.54, a PEG ratio of 1.86 and a beta of 1.24. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.29 and a current ratio of 1.29. The firm has a 50 day moving average price of $413.68 and a two-hundred day moving average price of $416.99. Netflix, Inc. has a fifty-two week low of $273.41 and a fifty-two week high of $485.00.

Netflix (NASDAQ:NFLX – Get Free Report) last posted its quarterly earnings results on Wednesday, October 18th. The Internet television network reported $3.73 earnings per share for the quarter, topping analysts’ consensus estimates of $3.49 by $0.24. Netflix had a return on equity of 20.68% and a net margin of 13.82%. The business had revenue of $8.54 billion for the quarter, compared to the consensus estimate of $8.54 billion. During the same period in the prior year, the business earned $3.10 EPS. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, analysts forecast that Netflix, Inc. will post 12.09 earnings per share for the current year.

Netflix Company Profile

(Free Report)

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.

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