Abacus Planning Group Inc. Buys 75 Shares of Netflix, Inc. (NASDAQ:NFLX)

Abacus Planning Group Inc. raised its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 15.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 559 shares of the Internet television network’s stock after purchasing an additional 75 shares during the period. Abacus Planning Group Inc.’s holdings in Netflix were worth $396,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Doliver Advisors LP lifted its holdings in Netflix by 44.0% in the 3rd quarter. Doliver Advisors LP now owns 1,367 shares of the Internet television network’s stock worth $970,000 after purchasing an additional 418 shares in the last quarter. Mattson Financial Services LLC purchased a new position in shares of Netflix in the second quarter worth $1,923,000. Greater Midwest Financial Group LLC boosted its position in shares of Netflix by 7.0% during the second quarter. Greater Midwest Financial Group LLC now owns 1,384 shares of the Internet television network’s stock worth $916,000 after acquiring an additional 90 shares during the last quarter. Centaurus Financial Inc. grew its stake in Netflix by 151.9% during the second quarter. Centaurus Financial Inc. now owns 13,450 shares of the Internet television network’s stock valued at $9,077,000 after acquiring an additional 8,110 shares in the last quarter. Finally, Anchor Investment Management LLC increased its holdings in Netflix by 0.5% in the 2nd quarter. Anchor Investment Management LLC now owns 6,956 shares of the Internet television network’s stock valued at $4,694,000 after acquiring an additional 34 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Trading Up 0.7 %

NASDAQ NFLX opened at $711.09 on Thursday. Netflix, Inc. has a one year low of $344.73 and a one year high of $725.26. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market capitalization of $306.48 billion, a price-to-earnings ratio of 49.35, a price-to-earnings-growth ratio of 1.44 and a beta of 1.26. The company’s 50-day simple moving average is $673.63 and its two-hundred day simple moving average is $646.74.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.74 by $0.14. The company had revenue of $9.56 billion for the quarter, compared to analyst estimates of $9.53 billion. Netflix had a net margin of 19.54% and a return on equity of 32.93%. Netflix’s revenue was up 16.8% compared to the same quarter last year. During the same period last year, the company posted $3.29 earnings per share. Equities analysts forecast that Netflix, Inc. will post 19.08 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on NFLX. Sanford C. Bernstein raised their price objective on Netflix from $600.00 to $625.00 and gave the company a “market perform” rating in a research report on Friday, July 19th. Needham & Company LLC reaffirmed a “buy” rating and set a $700.00 price objective on shares of Netflix in a report on Friday, July 19th. Citigroup raised their target price on shares of Netflix from $660.00 to $675.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. TD Cowen upped their price target on shares of Netflix from $725.00 to $775.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Finally, Rosenblatt Securities reissued a “neutral” rating and issued a $635.00 price objective on shares of Netflix in a research note on Friday, September 20th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $686.03.

Insider Transactions at Netflix

In related 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 transaction of $31,981,986.40. Following the sale, the chairman now owns 85 shares of the company’s stock, valued at $60,023.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Gregory K. Peters sold 1,278 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $614.44, for a total transaction of $785,254.32. Following the transaction, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at $8,043,019.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Reed Hastings sold 45,290 shares of the firm’s stock in a transaction on 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 completion of the sale, the chairman now directly owns 85 shares of the company’s stock, valued at approximately $60,023.60. The disclosure for this sale can be found here. In the last three months, insiders sold 224,784 shares of company stock valued at $150,212,870. Corporate insiders own 1.76% of the company’s stock.

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.