Kesler Norman & Wride LLC Makes New Investment in Netflix, Inc. (NASDAQ:NFLX)

Kesler Norman & Wride LLC bought a new stake in shares of Netflix, Inc. (NASDAQ:NFLX) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,412 shares of the Internet television network’s stock, valued at approximately $1,713,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Aprio Wealth Management LLC boosted its position in Netflix by 2.8% during the 3rd quarter. Aprio Wealth Management LLC now owns 1,891 shares of the Internet television network’s stock valued at $1,341,000 after acquiring an additional 51 shares in the last quarter. Versant Capital Management Inc lifted its stake in shares of Netflix by 15.3% in the 3rd quarter. Versant Capital Management Inc now owns 468 shares of the Internet television network’s stock valued at $332,000 after purchasing an additional 62 shares during the period. City Center Advisors LLC lifted its stake in shares of Netflix by 6.0% in the 3rd quarter. City Center Advisors LLC now owns 845 shares of the Internet television network’s stock valued at $599,000 after purchasing an additional 48 shares during the period. New England Research & Management Inc. boosted its position in shares of Netflix by 111.8% during the third quarter. New England Research & Management Inc. now owns 1,099 shares of the Internet television network’s stock valued at $779,000 after purchasing an additional 580 shares in the last quarter. Finally, Salvus Wealth Management LLC grew its stake in Netflix by 3.2% in the third quarter. Salvus Wealth Management LLC now owns 817 shares of the Internet television network’s stock worth $579,000 after purchasing an additional 25 shares during the period. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Price Performance

Shares of Netflix stock opened at $701.92 on Tuesday. The stock’s 50-day simple moving average is $676.85 and its 200-day simple moving average is $648.20. The company has a market capitalization of $302.53 billion, a price-to-earnings ratio of 48.71, a PEG ratio of 1.44 and a beta of 1.26. Netflix, Inc. has a 52 week low of $344.73 and a 52 week high of $725.26. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.55.

Netflix (NASDAQ:NFLX) last issued its earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, topping analysts’ consensus estimates of $4.74 by $0.14. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The firm had revenue of $9.56 billion during the quarter, compared to analyst estimates of $9.53 billion. During the same quarter in the prior year, the business earned $3.29 earnings per share. Netflix’s revenue for the quarter was up 16.8% on a year-over-year basis. As a group, analysts expect that Netflix, Inc. will post 19.08 earnings per share for the current fiscal year.

Insider Activity at Netflix

In related news, Chairman Reed Hastings sold 25,599 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $631.43, for a total value of $16,163,976.57. Following the completion of the transaction, the chairman now directly owns 57 shares of the company’s stock, valued at approximately $35,991.51. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Chairman Reed Hastings sold 25,599 shares of Netflix stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $631.43, for a total value of $16,163,976.57. Following the completion of the transaction, the chairman now owns 57 shares in the company, valued at approximately $35,991.51. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gregory K. Peters sold 4,392 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $725.00, for a total transaction of $3,184,200.00. Following the completion of the sale, the chief executive officer now owns 13,090 shares of the company’s stock, valued at $9,490,250. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 224,784 shares of company stock valued at $150,212,870. Insiders own 1.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on NFLX. Morgan Stanley boosted their target price on shares of Netflix from $700.00 to $780.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Jefferies Financial Group upped their price objective on shares of Netflix from $655.00 to $780.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Redburn Atlantic lifted their target price on shares of Netflix from $740.00 to $760.00 and gave the company a “buy” rating in a report on Friday, July 19th. StockNews.com upgraded Netflix from a “hold” rating to a “buy” rating in a research note on Tuesday, September 24th. Finally, Loop Capital raised their price objective on Netflix from $700.00 to $750.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $691.76.

About Netflix

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.