Financial Council LLC Purchases New Holdings in Netflix, Inc. (NASDAQ:NFLX)

Financial Council LLC purchased a new stake in shares of Netflix, Inc. (NASDAQ:NFLX) in the first quarter, HoldingsChannel.com reports. The institutional investor purchased 391 shares of the Internet television network’s stock, valued at approximately $237,000.

Other large investors also recently bought and sold shares of the company. Norges Bank purchased a new position in Netflix in the fourth quarter worth about $2,558,598,000. Wellington Management Group LLP raised its holdings in Netflix by 540.9% in the fourth quarter. Wellington Management Group LLP now owns 3,878,785 shares of the Internet television network’s stock worth $1,888,503,000 after buying an additional 3,273,592 shares during the last quarter. International Assets Investment Management LLC raised its holdings in Netflix by 15,039.1% in the fourth quarter. International Assets Investment Management LLC now owns 2,075,569 shares of the Internet television network’s stock worth $1,010,553,000 after buying an additional 2,061,859 shares during the last quarter. Jennison Associates LLC raised its holdings in Netflix by 40.6% in the fourth quarter. Jennison Associates LLC now owns 5,452,271 shares of the Internet television network’s stock worth $2,654,602,000 after buying an additional 1,573,978 shares during the last quarter. Finally, Global Assets Advisory LLC purchased a new position in Netflix in the first quarter worth about $436,514,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NFLX has been the subject of several recent analyst reports. TD Cowen lifted their target price on shares of Netflix from $725.00 to $775.00 and gave the stock a “buy” rating in a report on Tuesday. Citigroup lifted their target price on shares of Netflix from $555.00 to $660.00 and gave the stock a “neutral” rating in a report on Monday, March 25th. Guggenheim boosted their price objective on shares of Netflix from $600.00 to $700.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Oppenheimer reissued an “outperform” rating and set a $725.00 price objective on shares of Netflix in a report on Friday, April 19th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Netflix from $610.00 to $650.00 and gave the company an “overweight” rating in a report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $639.57.

Netflix Price Performance

Shares of NFLX traded down $24.90 during mid-day trading on Thursday, reaching $652.75. The stock had a trading volume of 5,107,258 shares, compared to its average volume of 3,908,513. The firm has a market cap of $281.34 billion, a price-to-earnings ratio of 45.30, a PEG ratio of 1.48 and a beta of 1.27. Netflix, Inc. has a 12 month low of $344.73 and a 12 month high of $697.49. The business has a fifty day moving average of $650.34 and a 200 day moving average of $595.84. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.07 and a current ratio of 1.07.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share for the quarter, topping analysts’ consensus estimates of $4.51 by $0.77. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The business had revenue of $9.37 billion during the quarter, compared to analyst estimates of $9.28 billion. During the same period in the prior year, the business posted $2.88 earnings per share. The company’s revenue was up 14.8% on a year-over-year basis. Equities analysts predict that Netflix, Inc. will post 18.31 EPS for the current year.

Insider Buying and Selling

In related news, Chairman Reed Hastings sold 18,361 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $551.54, for a total transaction of $10,126,825.94. Following the completion of the transaction, the chairman now owns 28 shares in the company, valued at $15,443.12. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Gregory K. Peters sold 4,783 shares of the company’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $675.00, for a total transaction of $3,228,525.00. Following the sale, the chief executive officer now owns 13,090 shares of the company’s stock, valued at $8,835,750. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Reed Hastings sold 18,361 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $551.54, for a total transaction of $10,126,825.94. Following the sale, the chairman now directly owns 28 shares in the company, valued at approximately $15,443.12. The disclosure for this sale can be found here. Over the last quarter, insiders sold 71,385 shares of company stock worth $44,469,351. 1.76% of the stock is 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.