Liberty Wealth Management LLC Acquires New Stake in Netflix, Inc. (NASDAQ:NFLX)

Liberty Wealth Management LLC purchased a new position in Netflix, Inc. (NASDAQ:NFLX) during the second quarter, HoldingsChannel reports. The firm purchased 3,902 shares of the Internet television network’s stock, valued at approximately $2,633,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank purchased a new position in Netflix in the 4th quarter worth about $2,558,598,000. Wellington Management Group LLP raised 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 valued at $1,888,503,000 after purchasing an additional 3,273,592 shares during the last quarter. GQG Partners LLC bought a new position in Netflix during the first quarter valued at approximately $1,450,476,000. Jennison Associates LLC boosted its holdings in Netflix by 17.0% in the first quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock worth $3,875,655,000 after purchasing an additional 929,193 shares during the last quarter. Finally, Global Assets Advisory LLC bought a new stake in Netflix in the 1st quarter worth approximately $436,514,000. 80.93% of the stock is currently owned by institutional investors.

Netflix Stock Up 1.4 %

Shares of NFLX opened at $675.42 on Tuesday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.55. The business has a fifty day moving average of $659.93 and a 200 day moving average of $635.27. The company has a market cap of $289.87 billion, a PE ratio of 46.87, a P/E/G ratio of 1.36 and a beta of 1.26. Netflix, Inc. has a 52-week low of $344.73 and a 52-week high of $711.33.

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

Wall Street Analyst Weigh In

Several brokerages recently commented on NFLX. Benchmark lifted their price objective on Netflix from $450.00 to $545.00 and gave the stock a “sell” rating in a report on Tuesday, July 16th. Citigroup increased their price objective on shares of Netflix from $660.00 to $675.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Macquarie restated an “outperform” rating and issued a $685.00 price objective on shares of Netflix in a research note on Tuesday, July 16th. StockNews.com lowered Netflix from a “buy” rating to a “hold” rating in a report on Saturday. Finally, UBS Group raised their price objective on Netflix from $685.00 to $750.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Netflix currently has an average rating of “Moderate Buy” and a consensus price target of $685.29.

Insider Activity

In other Netflix news, Director Leslie J. Kilgore sold 1,372 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $704.81, for a total value of $966,999.32. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Chairman Reed Hastings sold 25,074 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $680.92, for a total value of $17,073,388.08. Following the completion of the transaction, the chairman now owns 85 shares of the company’s stock, valued at $57,878.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Leslie J. Kilgore sold 1,372 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $704.81, for a total value of $966,999.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 157,831 shares of company stock valued at $102,721,884. 1.76% of the stock is currently owned by 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.