AMI Asset Management Corp Boosts Holdings in Netflix, Inc. (NASDAQ:NFLX)

AMI Asset Management Corp raised its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 28.9% in the second quarter, Holdings Channel reports. The institutional investor owned 75,397 shares of the Internet television network’s stock after acquiring an additional 16,927 shares during the period. Netflix comprises about 2.7% of AMI Asset Management Corp’s portfolio, making the stock its 15th biggest holding. AMI Asset Management Corp’s holdings in Netflix were worth $50,884,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Obermeyer Wood Investment Counsel Lllp raised its stake in shares of Netflix by 2.8% during the 1st quarter. Obermeyer Wood Investment Counsel Lllp now owns 623 shares of the Internet television network’s stock worth $378,000 after acquiring an additional 17 shares in the last quarter. Private Portfolio Partners LLC increased its position in shares of Netflix by 1.7% during the first quarter. Private Portfolio Partners LLC now owns 1,042 shares of the Internet television network’s stock worth $633,000 after purchasing an additional 17 shares in the last quarter. KFA Private Wealth Group LLC lifted its holdings in shares of Netflix by 1.9% during the 4th quarter. KFA Private Wealth Group LLC now owns 958 shares of the Internet television network’s stock valued at $466,000 after purchasing an additional 18 shares during the last quarter. Legacy Capital Group California Inc. boosted its position in shares of Netflix by 0.6% in the 4th quarter. Legacy Capital Group California Inc. now owns 2,833 shares of the Internet television network’s stock worth $1,379,000 after purchasing an additional 18 shares in the last quarter. Finally, Founders Financial Alliance LLC grew its stake in Netflix by 2.4% during the 4th quarter. Founders Financial Alliance LLC now owns 757 shares of the Internet television network’s stock worth $369,000 after buying an additional 18 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have commented on NFLX. The Goldman Sachs Group increased their price target on Netflix from $650.00 to $659.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Sanford C. Bernstein lifted their target price on shares of Netflix from $600.00 to $625.00 and gave the stock a “market perform” rating in a research note on Friday, July 19th. Guggenheim upped their price target on shares of Netflix from $700.00 to $735.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Citigroup raised their price target on shares of Netflix from $660.00 to $675.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Finally, Morgan Stanley boosted their price objective on shares of Netflix from $700.00 to $780.00 and gave the company an “overweight” rating in a report on Monday, July 15th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Netflix currently has a consensus rating of “Moderate Buy” and an average target price of $681.21.

Insider Transactions at Netflix

In other Netflix news, insider David A. Hyman sold 13,791 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was 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 owns 31,610 shares of the company’s stock, valued at $22,127,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Gregory K. Peters sold 4,644 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $700.00, for a total value of $3,250,800.00. Following the completion of the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at $9,163,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David A. Hyman sold 13,791 shares of Netflix stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $700.00, for a total value of $9,653,700.00. Following the completion of the sale, the insider now owns 31,610 shares in the company, valued at approximately $22,127,000. The disclosure for this sale can be found here. Insiders sold 152,700 shares of company stock valued at $98,283,982 over the last 90 days. Corporate insiders own 1.76% of the company’s stock.

Netflix Price Performance

NFLX traded down $2.23 during trading on Friday, hitting $686.73. The company’s stock had a trading volume of 2,354,450 shares, compared to its average volume of 3,870,180. The firm has a market capitalization of $295.98 billion, a price-to-earnings ratio of 47.66, a P/E/G ratio of 1.28 and a beta of 1.27. Netflix, Inc. has a twelve month low of $344.73 and a twelve month high of $711.33. The business’s fifty day simple moving average is $658.35 and its 200 day simple moving average is $626.12. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.74 by $0.14. The firm had revenue of $9.56 billion for the quarter, compared to analysts’ expectations of $9.53 billion. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The firm’s revenue for the quarter was up 16.8% compared to the same quarter last year. During the same quarter last year, the company earned $3.29 EPS. On average, equities research analysts forecast that Netflix, Inc. will post 19.08 EPS for the current fiscal year.

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.