W.G. Shaheen & Associates DBA Whitney & Co Takes $216,000 Position in Netflix, Inc. (NASDAQ:NFLX)

W.G. Shaheen & Associates DBA Whitney & Co purchased a new position in Netflix, Inc. (NASDAQ:NFLX) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 320 shares of the Internet television network’s stock, valued at approximately $216,000.

Other hedge funds also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Netflix in the fourth quarter valued at 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 acquiring an additional 3,273,592 shares during the last quarter. GQG Partners LLC purchased a new position in shares of Netflix in the first quarter valued at approximately $1,450,476,000. Jennison Associates LLC boosted its stake in shares of 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 acquiring an additional 929,193 shares during the last quarter. Finally, Global Assets Advisory LLC purchased a new stake in shares of Netflix during the first quarter worth approximately $436,514,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Price Performance

NFLX stock opened at $701.35 on Friday. The business’s 50-day moving average is $659.34 and its two-hundred day moving average is $630.28. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a market capitalization of $301.00 billion, a P/E ratio of 48.67, a P/E/G ratio of 1.44 and a beta of 1.27. Netflix, Inc. has a 1 year low of $344.73 and a 1 year high of $711.33.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share 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 for the quarter, compared to analyst estimates of $9.53 billion. During the same period in the prior year, the firm earned $3.29 earnings per share. The business’s quarterly revenue was up 16.8% compared to the same quarter last year. Analysts anticipate that Netflix, Inc. will post 19.08 earnings per share for the current fiscal year.

Insider Buying and Selling at Netflix

In other news, CFO Spencer Adam Neumann sold 433 shares of Netflix stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $626.19, for a total transaction of $271,140.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Spencer Adam Neumann sold 433 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $626.19, for a total transaction of $271,140.27. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider David A. Hyman sold 13,791 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $700.00, for a total value 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 disclosure for this sale can be found here. In the last three months, insiders have sold 152,700 shares of company stock valued at $98,283,982. Insiders own 1.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on NFLX. Bank of America boosted their price target on shares of Netflix from $700.00 to $740.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Rosenblatt Securities upped their price target on Netflix from $554.00 to $635.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. Wedbush reiterated an “outperform” rating and set a $725.00 price objective on shares of Netflix in a research report on Monday, May 20th. Evercore ISI boosted their price target on shares of Netflix from $710.00 to $750.00 and gave the company an “outperform” rating in a research report on Tuesday, August 27th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $700.00 price objective on shares of Netflix in a report on Friday, July 19th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus 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.