Grimes & Company Inc. Grows Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Grimes & Company Inc. increased its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 8.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 345 shares of the Internet television network’s stock after buying an additional 27 shares during the quarter. Grimes & Company Inc.’s holdings in Netflix were worth $245,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Heartland Bank & Trust Co lifted its position in Netflix by 0.9% in the second quarter. Heartland Bank & Trust Co now owns 1,770 shares of the Internet television network’s stock valued at $1,195,000 after purchasing an additional 15 shares during the period. Cedrus LLC lifted its position in Netflix by 0.8% in the third quarter. Cedrus LLC now owns 1,781 shares of the Internet television network’s stock valued at $1,263,000 after purchasing an additional 15 shares during the period. Meritas Wealth Management LLC lifted its position in Netflix by 2.9% in the third quarter. Meritas Wealth Management LLC now owns 573 shares of the Internet television network’s stock valued at $406,000 after purchasing an additional 16 shares during the period. Stage Harbor Financial LLC lifted its position in Netflix by 4.8% in the third quarter. Stage Harbor Financial LLC now owns 346 shares of the Internet television network’s stock valued at $250,000 after purchasing an additional 16 shares during the period. Finally, Compass Ion Advisors LLC lifted its position in Netflix by 4.5% in the third quarter. Compass Ion Advisors LLC now owns 369 shares of the Internet television network’s stock valued at $262,000 after purchasing an additional 16 shares during the period. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Stock Up 0.7 %

Shares of Netflix stock opened at $754.55 on Friday. The company has a fifty day moving average price of $703.23 and a 200 day moving average price of $657.75. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62. Netflix, Inc. has a twelve month low of $395.62 and a twelve month high of $773.00. The stock has a market cap of $322.54 billion, a price-to-earnings ratio of 42.70, a price-to-earnings-growth ratio of 1.48 and a beta of 1.26.

Analysts Set New Price Targets

A number of brokerages recently commented on NFLX. Bank of America raised their price objective on shares of Netflix from $740.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Wolfe Research reiterated an “outperform” rating on shares of Netflix in a research report on Friday, October 18th. Piper Sandler reiterated an “overweight” rating and set a $840.00 price target (up from $800.00) on shares of Netflix in a research report on Friday, October 18th. Benchmark reaffirmed a “sell” rating and issued a $545.00 target price on shares of Netflix in a research note on Tuesday, October 15th. Finally, TD Cowen upped their target price on Netflix from $820.00 to $835.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $747.70.

Insider Buying and Selling

In related news, insider David A. Hyman sold 20,656 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the completion of the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $19,128,159.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Netflix news, insider David A. Hyman sold 20,656 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total value of $12,499,565.28. Following the completion of the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at $19,128,159.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider David A. Hyman sold 13,791 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $700.00, for a total transaction of $9,653,700.00. Following the completion of the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $22,127,000. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 229,711 shares of company stock valued at $153,905,830. Company 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.