Salem Investment Counselors Inc. Buys 170 Shares of Netflix, Inc. (NASDAQ:NFLX)

Salem Investment Counselors Inc. increased its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 7.3% during the 1st quarter, HoldingsChannel.com reports. The fund owned 2,502 shares of the Internet television network’s stock after acquiring an additional 170 shares during the period. Salem Investment Counselors Inc.’s holdings in Netflix were worth $1,520,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of NFLX. V Square Quantitative Management LLC bought a new stake in Netflix in the third quarter valued at approximately $180,000. Dark Forest Capital Management LP raised its stake in Netflix by 119.6% in the third quarter. Dark Forest Capital Management LP now owns 1,212 shares of the Internet television network’s stock valued at $458,000 after buying an additional 660 shares during the period. Fuller & Thaler Asset Management Inc. raised its stake in Netflix by 5.2% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 2,020 shares of the Internet television network’s stock valued at $763,000 after buying an additional 100 shares during the period. Visionary Wealth Advisors raised its stake in Netflix by 28.8% in the third quarter. Visionary Wealth Advisors now owns 956 shares of the Internet television network’s stock valued at $361,000 after buying an additional 214 shares during the period. Finally, Federated Hermes Inc. raised its stake in Netflix by 30.5% in the third quarter. Federated Hermes Inc. now owns 81,215 shares of the Internet television network’s stock valued at $30,667,000 after buying an additional 18,989 shares during the period. Institutional investors own 80.93% of the company’s stock.

Analyst Ratings Changes

NFLX has been the topic of several research analyst reports. Canaccord Genuity Group lowered Netflix from a “buy” rating to a “hold” rating and dropped their price objective for the company from $720.00 to $585.00 in a research note on Friday, April 19th. Citigroup upped their target price on Netflix from $555.00 to $660.00 and gave the company a “neutral” rating in a research report on Monday, March 25th. TD Cowen upped their target price on Netflix from $600.00 to $725.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Evercore ISI upped their target price on Netflix from $650.00 to $700.00 and gave the company an “outperform” rating in a research report on Tuesday, May 28th. Finally, CICC Research assumed coverage on Netflix in a research report on Thursday, May 2nd. They issued an “outperform” rating and a $650.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $633.53.

Netflix Trading Up 1.0 %

Shares of NFLX stock opened at $686.12 on Monday. Netflix, Inc. has a fifty-two week low of $344.73 and a fifty-two week high of $689.88. The company has a market cap of $295.72 billion, a PE ratio of 47.61, a P/E/G ratio of 1.47 and a beta of 1.26. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.07 and a current ratio of 1.07. The stock’s fifty day moving average price is $621.45 and its two-hundred day moving average price is $577.54.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, April 18th. The Internet television network reported $5.28 EPS for the quarter, beating analysts’ consensus estimates of $4.51 by $0.77. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The company had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $9.28 billion. During the same period in the prior year, the company earned $2.88 EPS. Netflix’s revenue was up 14.8% compared to the same quarter last year. Equities analysts predict that Netflix, Inc. will post 18.31 EPS for the current fiscal year.

Insider Activity

In other news, Chairman Reed Hastings sold 20,566 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $610.42, for a total value of $12,553,897.72. Following the completion of the transaction, the chairman now directly owns 28 shares in the company, valued at approximately $17,091.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Chairman Reed Hastings sold 20,566 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $610.42, for a total transaction of $12,553,897.72. Following the completion of the transaction, the chairman now directly owns 28 shares of the company’s stock, valued at approximately $17,091.76. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Gregory K. Peters sold 4,783 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $675.00, for a total value of $3,228,525.00. Following the transaction, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at $8,835,750. The disclosure for this sale can be found here. In the last ninety days, insiders sold 69,425 shares of company stock worth $41,919,791. Insiders own 1.76% of the company’s stock.

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.