Lake Street Advisors Group LLC Has $3.97 Million Stake in Netflix, Inc. (NASDAQ:NFLX)

Lake Street Advisors Group LLC lessened its position in Netflix, Inc. (NASDAQ:NFLX) by 2.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,883 shares of the Internet television network’s stock after selling 151 shares during the period. Lake Street Advisors Group LLC’s holdings in Netflix were worth $3,970,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of NFLX. Denver PWM LLC bought a new position in Netflix in the 2nd quarter valued at approximately $25,000. Valued Wealth Advisors LLC raised its stake in shares of Netflix by 80.0% during the first quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock valued at $27,000 after acquiring an additional 20 shares during the last quarter. VitalStone Financial LLC raised its stake in shares of Netflix by 933.3% during the fourth quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock valued at $30,000 after acquiring an additional 56 shares during the last quarter. Beaird Harris Wealth Management LLC lifted its holdings in shares of Netflix by 1,550.0% during the fourth quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock worth $32,000 after purchasing an additional 62 shares during the period. Finally, Scarborough Advisors LLC bought a new stake in shares of Netflix in the fourth quarter worth $32,000. 80.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on NFLX shares. UBS Group raised their target price on Netflix from $685.00 to $750.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Bank of America lifted their price objective on Netflix from $700.00 to $740.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Redburn Atlantic upped their target price on Netflix from $740.00 to $760.00 and gave the company a “buy” rating in a report on Friday, July 19th. 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, Benchmark upped their price objective on shares of Netflix from $450.00 to $545.00 and gave the company a “sell” rating in a research note on Tuesday, July 16th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat, Netflix presently has a consensus rating of “Moderate Buy” and a consensus price target of $685.29.

Netflix Stock Performance

Shares of NFLX opened at $665.77 on Friday. The firm has a market capitalization of $286.95 billion, a P/E ratio of 46.20, a P/E/G ratio of 1.44 and a beta of 1.27. Netflix, Inc. has a 52 week low of $344.73 and a 52 week high of $711.33. The stock has a 50 day moving average price of $659.89 and a two-hundred day moving average price of $633.82. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. Netflix’s revenue was up 16.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.29 earnings per share. Equities analysts forecast that Netflix, Inc. will post 19.08 earnings per share for the current fiscal year.

Insider Transactions at Netflix

In related news, Chairman Reed Hastings sold 25,074 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $680.92, for a total transaction of $17,073,388.08. Following the transaction, the chairman now directly owns 85 shares of the company’s stock, valued at $57,878.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Netflix news, insider David A. Hyman sold 20,656 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total value of $12,499,565.28. Following the completion of the transaction, the insider now owns 31,610 shares in the company, valued at approximately $19,128,159.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Reed Hastings sold 25,074 shares of Netflix stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $680.92, for a total value of $17,073,388.08. Following the sale, the chairman now owns 85 shares in the company, valued at $57,878.20. The disclosure for this sale can be found here. Insiders sold a total of 157,831 shares of company stock worth $102,721,884 in the last quarter. 1.76% of the stock is currently owned by corporate insiders.

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.