Financial Council LLC Acquires New Position in Netflix, Inc. (NASDAQ:NFLX)

Financial Council LLC bought a new stake in Netflix, Inc. (NASDAQ:NFLX) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 391 shares of the Internet television network’s stock, valued at approximately $237,000.

A number of other hedge funds have also recently added to or reduced their stakes in NFLX. Norges Bank acquired a new stake in Netflix in the fourth quarter valued at approximately $2,558,598,000. Wellington Management Group LLP lifted its holdings in shares of Netflix by 540.9% during the fourth quarter. Wellington Management Group LLP now owns 3,878,785 shares of the Internet television network’s stock worth $1,888,503,000 after purchasing an additional 3,273,592 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of Netflix by 15,039.1% during the fourth quarter. International Assets Investment Management LLC now owns 2,075,569 shares of the Internet television network’s stock worth $1,010,553,000 after purchasing an additional 2,061,859 shares during the period. Jennison Associates LLC lifted its holdings in shares of Netflix by 40.6% during the fourth quarter. Jennison Associates LLC now owns 5,452,271 shares of the Internet television network’s stock worth $2,654,602,000 after purchasing an additional 1,573,978 shares during the period. Finally, Global Assets Advisory LLC acquired a new position in shares of Netflix during the first quarter worth $436,514,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Stock Down 3.7 %

Shares of NASDAQ:NFLX traded down $24.90 during midday trading on Thursday, hitting $652.75. 5,107,258 shares of the company’s stock were exchanged, compared to its average volume of 3,908,513. Netflix, Inc. has a 12 month low of $344.73 and a 12 month high of $697.49. The company has a market cap of $281.34 billion, a PE ratio of 45.30, a price-to-earnings-growth ratio of 1.48 and a beta of 1.27. The stock has a 50 day moving average price of $650.34 and a 200-day moving average price of $595.84. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 1.07.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share for the quarter, topping the consensus estimate of $4.51 by $0.77. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The business had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $9.28 billion. During the same period in the previous year, the company earned $2.88 earnings per share. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Netflix, Inc. will post 18.31 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. TD Cowen lifted their price target on shares of Netflix from $725.00 to $775.00 and gave the stock a “buy” rating in a report on Tuesday. Guggenheim lifted their price target on shares of Netflix from $600.00 to $700.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Oppenheimer reiterated an “outperform” rating and set a $725.00 price target on shares of Netflix in a report on Friday, April 19th. Canaccord Genuity Group restated a “hold” rating and issued a $585.00 target price (down previously from $720.00) on shares of Netflix in a report on Friday, April 19th. Finally, Evercore ISI boosted their target price on shares of Netflix from $650.00 to $700.00 and gave the company an “outperform” rating in a report on Tuesday, May 28th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat, Netflix presently has an average rating of “Moderate Buy” and a consensus target price of $639.57.

Insider Buying and Selling

In related news, Chairman Reed Hastings sold 22,526 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $670.49, for a total transaction of $15,103,457.74. Following the transaction, the chairman now directly owns 57 shares in the company, valued at $38,217.93. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Netflix news, CEO Gregory K. Peters sold 1,278 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $593.81, for a total value of $758,889.18. Following the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at $7,772,972.90. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Reed Hastings sold 22,526 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $670.49, for a total transaction of $15,103,457.74. Following the completion of the transaction, the chairman now owns 57 shares in the company, valued at $38,217.93. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 71,385 shares of company stock worth $44,469,351. 1.76% of the stock is owned by insiders.

Netflix 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.