Renaissance Technologies LLC Invests $183.37 Million in Netflix, Inc. (NASDAQ:NFLX)

Renaissance Technologies LLC purchased a new position in Netflix, Inc. (NASDAQ:NFLX) in the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 271,700 shares of the Internet television network’s stock, valued at approximately $183,365,000.

Several other hedge funds have also recently modified their holdings of the business. Denver PWM LLC bought a new position in shares of Netflix during the 2nd quarter worth approximately $25,000. Valued Wealth Advisors LLC raised its stake in shares of Netflix by 80.0% during the 1st quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock worth $27,000 after acquiring an additional 20 shares in the last quarter. VitalStone Financial LLC raised its stake in shares of Netflix by 933.3% during the 4th quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock worth $30,000 after acquiring an additional 56 shares in the last quarter. Beaird Harris Wealth Management LLC raised its stake in shares of Netflix by 1,550.0% during the 4th quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock worth $32,000 after acquiring an additional 62 shares in the last quarter. Finally, Scarborough Advisors LLC bought a new position in shares of Netflix during the 4th quarter worth approximately $32,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Stock Up 1.5 %

Shares of NASDAQ NFLX opened at $697.06 on Monday. The company’s 50-day simple moving average is $660.00 and its 200-day simple moving average is $637.88. Netflix, Inc. has a 52-week low of $344.73 and a 52-week high of $711.33. The firm has a market cap of $299.16 billion, a price-to-earnings ratio of 48.37, a price-to-earnings-growth ratio of 1.40 and a beta of 1.26. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.55.

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

Analysts Set New Price Targets

Several research firms recently commented on NFLX. Citigroup boosted 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. Pivotal Research raised their price target on shares of Netflix from $800.00 to $900.00 and gave the stock a “buy” rating in a report on Friday, August 30th. UBS Group raised their price target on shares of Netflix from $685.00 to $750.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Needham & Company LLC reaffirmed a “buy” rating and issued a $700.00 price target on shares of Netflix in a report on Friday, July 19th. Finally, Morgan Stanley raised their price target on shares of Netflix from $700.00 to $780.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $685.29.

Insider Activity

In other news, Chairman Reed Hastings sold 22,526 shares of Netflix stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $670.49, for a total value of $15,103,457.74. Following the sale, the chairman now owns 57 shares in the company, valued at $38,217.93. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Chairman Reed Hastings sold 22,526 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $670.49, for a total value of $15,103,457.74. Following the transaction, the chairman now directly owns 57 shares of the company’s stock, valued at $38,217.93. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider David A. Hyman sold 20,656 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the completion of the transaction, the insider now directly owns 31,610 shares in the company, valued at $19,128,159.30. The disclosure for this sale can be found here. Insiders have sold a total of 196,798 shares of company stock worth $129,552,672 over the last 90 days. 1.76% of the stock is currently owned by company insiders.

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.