Avidian Wealth Enterprises LLC Buys 80 Shares of Netflix, Inc. $NFLX

Avidian Wealth Enterprises LLC increased its stake in Netflix, Inc. (NASDAQ:NFLX) by 4.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,807 shares of the Internet television network’s stock after purchasing an additional 80 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in Netflix were worth $2,419,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Optima Capital LLC raised its holdings in shares of Netflix by 3.5% in the 2nd quarter. Optima Capital LLC now owns 239 shares of the Internet television network’s stock worth $320,000 after purchasing an additional 8 shares during the period. Unified Investment Management raised its holdings in shares of Netflix by 1.7% in the 2nd quarter. Unified Investment Management now owns 474 shares of the Internet television network’s stock worth $635,000 after purchasing an additional 8 shares during the period. Plancorp LLC raised its holdings in shares of Netflix by 0.6% in the 2nd quarter. Plancorp LLC now owns 1,278 shares of the Internet television network’s stock worth $1,711,000 after purchasing an additional 8 shares during the period. Five Oceans Advisors raised its holdings in shares of Netflix by 1.1% in the 2nd quarter. Five Oceans Advisors now owns 751 shares of the Internet television network’s stock worth $1,006,000 after purchasing an additional 8 shares during the period. Finally, Old Port Advisors raised its holdings in shares of Netflix by 1.3% in the 2nd quarter. Old Port Advisors now owns 624 shares of the Internet television network’s stock worth $836,000 after purchasing an additional 8 shares during the period. Institutional investors own 80.93% of the company’s stock.

Insider Transactions at Netflix

In related news, Director Reed Hastings sold 42,176 shares of the company’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $1,171.92, for a total value of $49,426,897.92. Following the completion of the transaction, the director directly owned 394 shares in the company, valued at approximately $461,736.48. The trade was a 99.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David A. Hyman sold 424 shares of the company’s stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $1,158.67, for a total transaction of $491,276.08. Following the completion of the transaction, the insider owned 31,610 shares of the company’s stock, valued at $36,625,558.70. This trade represents a 1.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 104,100 shares of company stock valued at $122,710,980. Corporate insiders own 1.37% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on NFLX. KeyCorp boosted their target price on shares of Netflix from $1,070.00 to $1,390.00 and gave the company an “overweight” rating in a report on Thursday, July 10th. Piper Sandler boosted their target price on shares of Netflix from $1,400.00 to $1,500.00 and gave the company an “overweight” rating in a report on Friday, July 18th. Wells Fargo & Company boosted their target price on shares of Netflix from $1,500.00 to $1,560.00 and gave the company an “overweight” rating in a report on Friday, July 18th. Needham & Company LLC reissued a “buy” rating and set a $1,500.00 target price on shares of Netflix in a report on Wednesday, September 10th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Netflix in a report on Tuesday, October 14th. Two analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Netflix currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,339.81.

Netflix Trading Up 3.3%

Netflix stock opened at $1,238.56 on Tuesday. The stock has a market cap of $526.30 billion, a P/E ratio of 52.77, a PEG ratio of 2.02 and a beta of 1.59. Netflix, Inc. has a fifty-two week low of $744.26 and a fifty-two week high of $1,341.15. The firm’s fifty day moving average price is $1,213.87 and its 200-day moving average price is $1,182.08. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.34 and a current ratio of 1.34.

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.