Farther Finance Advisors LLC Expands Stake in Netflix, Inc.

Farther Finance Advisors LLC has increased its investment in Netflix, Inc. (NASDAQ:NFLX) by 20.9% during the third quarter, as reported in its latest Form 13F filing with the Securities and Exchange Commission. As a result, the firm now owns 5,220 shares of the popular Internet television network's stock, following an additional purchase of 903 shares during the quarter. As of this latest filing, the value of Farther Finance Advisors LLC's shares in Netflix is approximately $3,703,000.

Other Institutional Investments

In addition to Farther Finance Advisors, several other institutional investors have recently made changes to their positions in Netflix. Dash Acquisitions Inc. acquired a new stake valued at around $216,000 during the third quarter. Additionally, Capital Advisors Inc. OK increased its holdings in Netflix by 10.7%, bringing its total to 6,702 shares worth about $4,754,000 after buying an extra 647 shares. Eads & Heald Wealth Management also raised its position by 1.7%, now owning 3,358 shares valued at $2,382,000 after an additional 55 shares were acquired. Moreover, Americana Partners LLC increased its stake by 21.3%, owning 4,062 shares valued at $2,881,000 following a purchase of 712 shares. Lastly, Shepherd Financial Partners LLC bought a new position worth $200,000. It is noteworthy that institutional investors collectively hold about 80.93% of Netflix's shares.

Analysts' Opinions

Many analysts have weighed in on Netflix's stock recently. Wolfe Research reiterated an "outperform" rating on the shares on October 18th. Piper Sandler maintained an "overweight" rating and raised the price target from $800 to $840. Similarly, Needham & Company LLC increased their price objective from $700 to $800, giving Netflix a "buy" rating on the same day. Guggenheim also upped their target price from $810 to $825, labeling the stock as "buy" in a report issued on October 29th. In a similar vein, Wells Fargo & Company adjusted their target price from $758 to $797 and kept an "overweight" rating. Out of the analysts covering Netflix, two have rated the stock as a sell, nine as a hold, and twenty-five as a buy. According to MarketBeat.com, Netflix currently holds a "Moderate Buy" average rating with a consensus price target of $748.15.

Current Stock Performance

As of Friday, Netflix's stock opened at $756.10. The company reports a current ratio of 1.13, a quick ratio of 1.13, and a debt-to-equity ratio of 0.62. With a market capitalization of $323.20 billion, the stock has a P/E ratio of 42.79, a PEG ratio of 1.46, and a beta of 1.25. The 50-day moving average for Netflix stands at $712.96, while the 200-day moving average is at $664.34. The company has experienced a 12-month low of $417.10 and a high of $773.00.

Insider Trading Activity

In recent company news, CFO Spencer Adam Neumann sold 433 shares on August 8th at an average price of $626.19, totaling approximately $271,140. In another transaction, Director Richard N. Barton sold 5,698 shares on October 25th at an average price of $756.00, amounting to $4,307,688. Following this transaction, Barton now owns 246 shares valued at $185,976. Over the last quarter, insiders have disposed of 209,810 shares of Netflix stock, valued at around $142,049,542, with insiders holding about 1.76% of the stock.

About Netflix, Inc.

Netflix, Inc. provides entertainment services, offering a wide variety of TV series, documentaries, feature films, and games across multiple genres and languages. Members can access streaming content via a range of internet-connected devices such as TVs, digital video players, set-top boxes, and mobile devices.

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