Arista Wealth Management LLC Buys Shares of 165 Netflix, Inc. $NFLX

Arista Wealth Management LLC bought a new stake in Netflix, Inc. (NASDAQ:NFLX) during the second quarter, Holdings Channel.com reports. The firm bought 165 shares of the Internet television network’s stock, valued at approximately $221,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Stratos Wealth Partners LTD. lifted its stake in Netflix by 8.6% in the second quarter. Stratos Wealth Partners LTD. now owns 14,582 shares of the Internet television network’s stock valued at $19,528,000 after buying an additional 1,156 shares during the last quarter. BXM Wealth LLC bought a new stake in shares of Netflix during the second quarter valued at about $257,000. Stratos Wealth Advisors LLC raised its stake in shares of Netflix by 8.4% during the second quarter. Stratos Wealth Advisors LLC now owns 4,631 shares of the Internet television network’s stock valued at $6,202,000 after purchasing an additional 357 shares in the last quarter. Private Trust Co. NA raised its stake in shares of Netflix by 1.7% during the second quarter. Private Trust Co. NA now owns 2,886 shares of the Internet television network’s stock valued at $3,865,000 after purchasing an additional 48 shares in the last quarter. Finally, Angeles Wealth Management LLC raised its stake in shares of Netflix by 9.7% during the second quarter. Angeles Wealth Management LLC now owns 2,703 shares of the Internet television network’s stock valued at $3,620,000 after purchasing an additional 240 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on NFLX shares. TD Cowen cut their price objective on shares of Netflix from $1,450.00 to $1,425.00 and set a “buy” rating on the stock in a research note on Tuesday, October 7th. Wall Street Zen cut shares of Netflix from a “buy” rating to a “hold” rating in a research note on Saturday, October 4th. Needham & Company LLC restated a “buy” rating and set a $1,500.00 price objective on shares of Netflix in a research note on Wednesday, September 10th. Sanford C. Bernstein restated a “buy” rating on shares of Netflix in a research note on Friday. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $1,425.00 target price (up from $1,200.00) on shares of Netflix in a report on Tuesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,339.81.

Insider Transactions at Netflix

In related news, CEO Theodore A. Sarandos sold 2,026 shares of Netflix stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $1,160.62, for a total value of $2,351,416.12. Following the transaction, the chief executive officer owned 15,168 shares of the company’s stock, valued at approximately $17,604,284.16. This trade represents a 11.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider David A. Hyman sold 424 shares of Netflix stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $1,158.67, for a total value of $491,276.08. Following the completion of the transaction, the insider directly owned 31,610 shares in the company, valued at $36,625,558.70. This represents a 1.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 104,100 shares of company stock worth $122,710,980 in the last three months. Insiders own 1.37% of the company’s stock.

Netflix Price Performance

Shares of Netflix stock opened at $1,199.36 on Friday. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.58. The company’s 50-day moving average price is $1,213.47 and its two-hundred day moving average price is $1,175.91. Netflix, Inc. has a 52 week low of $736.23 and a 52 week high of $1,341.15. The stock has a market cap of $509.64 billion, a PE ratio of 51.10, a price-to-earnings-growth ratio of 1.99 and a beta of 1.59.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, topping the consensus estimate of $7.07 by $0.12. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The firm had revenue of $11.08 billion for the quarter, compared to analysts’ expectations of $11.04 billion. During the same period in the previous year, the business earned $4.88 earnings per share. Netflix’s revenue for the quarter was up 15.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

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.