Van ECK Associates Corp Raises Holdings in Netflix, Inc. (NASDAQ:NFLX)

Van ECK Associates Corp increased its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 977.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 74,149 shares of the Internet television network’s stock after purchasing an additional 67,264 shares during the quarter. Van ECK Associates Corp’s holdings in Netflix were worth $50,042,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Valued Wealth Advisors LLC grew its holdings in Netflix by 80.0% in the 1st quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock valued at $27,000 after buying an additional 20 shares in the last quarter. Proffitt & Goodson Inc. grew its holdings in Netflix by 380.0% in the 2nd quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock valued at $32,000 after buying an additional 38 shares in the last quarter. AlphaMark Advisors LLC grew its holdings in Netflix by 642.9% in the 2nd quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock valued at $35,000 after buying an additional 45 shares in the last quarter. Indiana Trust & Investment Management CO grew its holdings in Netflix by 112.0% in the 1st quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock valued at $32,000 after buying an additional 28 shares in the last quarter. Finally, Triad Wealth Partners LLC purchased a new stake in Netflix in the 2nd quarter valued at $38,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Netflix Stock Up 1.3 %

Netflix stock traded up $8.87 during mid-day trading on Friday, hitting $701.35. The company had a trading volume of 3,266,723 shares, compared to its average volume of 3,828,823. The stock has a market cap of $302.28 billion, a price-to-earnings ratio of 48.67, a PEG ratio of 1.28 and a beta of 1.27. 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, Inc. has a 1 year low of $344.73 and a 1 year high of $711.33. The business has a fifty day moving average of $659.34 and a 200 day moving average of $630.28.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, beating 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 earnings per share. Netflix’s quarterly revenue was up 16.8% compared to the same quarter last year. On average, sell-side analysts expect that Netflix, Inc. will post 19.08 earnings per share for the current fiscal year.

Insider Activity at Netflix

In other news, insider David A. Hyman sold 20,656 shares of the company’s stock in a transaction dated 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 directly owns 31,610 shares of the company’s stock, valued at $19,128,159.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider David A. Hyman sold 13,791 shares of the stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $700.00, for a total transaction of $9,653,700.00. Following the completion of the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at $22,127,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David A. Hyman sold 20,656 shares of the company’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 transaction, the insider now owns 31,610 shares in the company, valued at $19,128,159.30. The disclosure for this sale can be found here. Insiders sold a total of 152,700 shares of company stock valued at $98,283,982 over the last ninety days. Insiders own 1.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on NFLX. StockNews.com cut Netflix from a “buy” rating to a “hold” rating in a report on Thursday. Rosenblatt Securities upped their price target on Netflix from $554.00 to $635.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Redburn Atlantic upped their price target on Netflix from $740.00 to $760.00 and gave the company a “buy” rating in a research note on Friday, July 19th. Needham & Company LLC reaffirmed a “buy” rating and issued a $700.00 price target on shares of Netflix in a research note on Friday, July 19th. Finally, Argus upped their price target on Netflix from $660.00 to $767.00 and gave the company a “buy” rating in a research note on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat.com, Netflix has a consensus rating of “Moderate Buy” and an average price target of $685.45.

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.