Procyon Advisors LLC Grows Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Procyon Advisors LLC boosted its holdings in Netflix, Inc. (NASDAQ:NFLX) by 10.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,752 shares of the Internet television network’s stock after acquiring an additional 1,660 shares during the period. Netflix accounts for about 0.9% of Procyon Advisors LLC’s portfolio, making the stock its 27th largest holding. Procyon Advisors LLC’s holdings in Netflix were worth $12,590,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. GQG Partners LLC acquired a new stake in shares of Netflix during the 1st quarter worth about $1,450,476,000. Jennison Associates LLC boosted its stake in Netflix by 17.0% during 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 buying an additional 929,193 shares during the period. Global Assets Advisory LLC acquired a new stake in shares of Netflix during the first quarter valued at about $436,514,000. Jericho Capital Asset Management L.P. purchased a new stake in shares of Netflix in the 1st quarter valued at approximately $372,293,000. Finally, Swedbank AB acquired a new position in shares of Netflix in the 1st quarter worth approximately $216,538,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on NFLX shares. Sanford C. Bernstein boosted their target price on Netflix from $600.00 to $625.00 and gave the company a “market perform” rating in a research report on Friday, July 19th. Deutsche Bank Aktiengesellschaft boosted their price objective on Netflix from $590.00 to $650.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. The Goldman Sachs Group raised their target price on Netflix from $650.00 to $659.00 and gave the company a “neutral” rating in a report on Friday, July 19th. Macquarie lifted their target price on Netflix from $695.00 to $795.00 and gave the company an “outperform” rating in a research report on Friday. Finally, Rosenblatt Securities reissued a “neutral” rating and set a $635.00 price target on shares of Netflix in a research report on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $702.79.

Netflix Stock Performance

NASDAQ NFLX opened at $724.95 on Monday. The company has a fifty day moving average of $686.60 and a two-hundred day moving average of $651.60. The company has a market capitalization of $312.45 billion, a PE ratio of 50.16, a P/E/G ratio of 1.49 and a beta of 1.26. Netflix, Inc. has a 1 year low of $344.73 and a 1 year high of $736.00. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95.

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 analysts’ consensus estimates of $4.74 by $0.14. The firm had revenue of $9.56 billion during the quarter, compared to analysts’ expectations of $9.53 billion. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The business’s revenue was up 16.8% on a year-over-year basis. During the same period in the prior year, the firm earned $3.29 EPS. As a group, analysts expect that Netflix, Inc. will post 19.08 earnings per share for the current year.

Insider Transactions at Netflix

In related news, insider David A. Hyman sold 20,656 shares of the company’s stock in a transaction on 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 owns 31,610 shares in the company, valued at $19,128,159.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider David A. Hyman sold 20,656 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total value 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 trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Spencer Adam Neumann sold 433 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $626.19, for a total value of $271,140.27. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 225,167 shares of company stock worth $150,492,460. Insiders own 1.76% of the company’s stock.

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.