9258 Wealth Management LLC Boosts Stake in Netflix, Inc. (NASDAQ:NFLX)

9258 Wealth Management LLC increased its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 48.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 659 shares of the Internet television network’s stock after buying an additional 214 shares during the quarter. 9258 Wealth Management LLC’s holdings in Netflix were worth $445,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. M&G Plc purchased a new position in shares of Netflix in the first quarter worth about $9,682,000. BSN CAPITAL PARTNERS Ltd increased its holdings in Netflix by 24.4% in the 1st quarter. BSN CAPITAL PARTNERS Ltd now owns 250,000 shares of the Internet television network’s stock worth $155,185,000 after buying an additional 49,000 shares during the period. Scarborough Advisors LLC purchased a new position in Netflix during the 4th quarter worth approximately $9,513,000. Summitry LLC lifted its stake in Netflix by 12.2% during the 4th quarter. Summitry LLC now owns 69,543 shares of the Internet television network’s stock valued at $33,859,000 after acquiring an additional 7,579 shares during the period. Finally, Bedel Financial Consulting Inc. purchased a new stake in shares of Netflix in the 4th quarter valued at $224,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider David A. Hyman sold 20,656 shares of the stock in a transaction that occurred on 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 sale, the insider now owns 31,610 shares of the company’s stock, valued at approximately $19,128,159.30. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Netflix news, Director Leslie J. Kilgore sold 1,372 shares of the stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $704.81, for a total transaction of $966,999.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David A. Hyman sold 20,656 shares of Netflix stock in a transaction dated 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 sale, the insider now owns 31,610 shares of the company’s stock, valued at $19,128,159.30. The disclosure for this sale can be found here. Insiders have sold 157,831 shares of company stock valued at $102,721,884 over the last ninety days. Company insiders own 1.76% of the company’s stock.

Netflix Price Performance

NFLX stock opened at $683.62 on Friday. Netflix, Inc. has a 1 year low of $344.73 and a 1 year high of $711.33. The firm has a market capitalization of $294.64 billion, a PE ratio of 47.44, a price-to-earnings-growth ratio of 1.44 and a beta of 1.27. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95. The business has a 50 day simple moving average of $660.07 and a 200-day simple moving average of $633.26.

Netflix (NASDAQ:NFLX) last issued its earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.74 by $0.14. The business had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $9.53 billion. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The company’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same period last year, the company earned $3.29 EPS. Equities research analysts anticipate that Netflix, Inc. will post 19.08 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. UBS Group boosted their target price on shares of Netflix from $685.00 to $750.00 and gave the company a “buy” rating in a research report on Friday, July 19th. JPMorgan Chase & Co. raised their target price on Netflix from $650.00 to $750.00 and gave the stock an “overweight” rating in a report on Friday, July 12th. Sanford C. Bernstein lifted their price target on Netflix from $600.00 to $625.00 and gave the company a “market perform” rating in a research report on Friday, July 19th. Wedbush restated an “outperform” rating and issued a $725.00 price objective on shares of Netflix in a research report on Monday, May 20th. Finally, KeyCorp increased their price target on shares of Netflix from $707.00 to $735.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat.com, Netflix presently has an average rating of “Moderate Buy” and a consensus target price of $685.29.

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.