Syntegra Private Wealth Group LLC Acquires New Position in Netflix, Inc. $NFLX

Key Points

• Syntegra Private Wealth Group LLC has acquired a new position in Netflix, purchasing 263 shares valued at approximately $352,000 during the second quarter.
• Institutional investors hold 80.93% of Netflix's stock, with various firms increasing their stakes in the company during the same period.
• Brokerages have varying outlooks on Netflix, with Loop Capital upgrading the stock from "hold" to "buy" and setting a target price of $1,350.00, while overall the company holds a consensus rating of "Moderate Buy."

Syntegra Private Wealth Group LLC bought a new position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 263 shares of the Internet television network's stock, valued at approximately $352,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Stephens Consulting LLC boosted its stake in Netflix by 150.0% in the second quarter. Stephens Consulting LLC now owns 25 shares of the Internet television network's stock valued at $33,000 after buying an additional 15 shares in the last quarter. Maseco LLP bought a new position in shares of Netflix in the second quarter worth about $39,000. LGT Financial Advisors LLC acquired a new stake in shares of Netflix in the 2nd quarter valued at approximately $40,000. Mid American Wealth Advisory Group Inc. bought a new stake in shares of Netflix during the 2nd quarter valued at approximately $44,000. Finally, Ransom Advisory Ltd acquired a new position in Netflix during the 2nd quarter worth approximately $47,000. Institutional investors own 80.93% of the company's stock.

Insiders Place Their Bets

In related news, insider Cletus R. Willems sold 238 shares of the stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $1,153.52, for a total transaction of $274,537.76. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Theodore A. Sarandos sold 2,026 shares of Netflix stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $1,160.62, for a total transaction of $2,351,416.12. Following the completion of the sale, the chief executive officer directly 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 104,100 shares of company stock valued at $122,710,980 in the last 90 days. Company insiders own 1.37% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NFLX. Loop Capital upgraded shares of Netflix from a "hold" rating to a "buy" rating and raised their target price for the company from $1,150.00 to $1,350.00 in a research report on Wednesday, September 17th. Canaccord Genuity Group restated a "buy" rating on shares of Netflix in a research report on Thursday, July 10th. TD Cowen cut their price target on 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. Needham & Company LLC reaffirmed a "buy" rating and issued a $1,500.00 price objective on shares of Netflix in a research note on Wednesday, September 10th. Finally, KeyCorp raised their price objective 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. Two analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Netflix has an average rating of "Moderate Buy" and a consensus price target of $1,339.81.

Netflix Stock Performance

Shares of Netflix stock opened at $1,238.56 on Tuesday. The business has a 50-day moving average price of $1,213.87 and a two-hundred day moving average price of $1,182.08. Netflix, Inc. has a 1-year low of $744.26 and a 1-year high of $1,341.15. 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 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.

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.

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