Simplicity Wealth LLC Has $3.43 Million Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Simplicity Wealth LLC raised its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 86.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,675 shares of the Internet television network’s stock after purchasing an additional 1,708 shares during the period. Simplicity Wealth LLC’s holdings in Netflix were worth $3,427,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its position in Netflix by 109,524.3% during the first quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network’s stock worth $8,239,576,000 after acquiring an additional 8,827,662 shares during the period. Norges Bank bought a new position in Netflix during the fourth quarter worth $5,019,087,000. Proficio Capital Partners LLC increased its position in Netflix by 123,836.7% during the fourth quarter. Proficio Capital Partners LLC now owns 1,925,977 shares of the Internet television network’s stock worth $1,716,662,000 after acquiring an additional 1,924,423 shares during the period. Arrowstreet Capital Limited Partnership increased its position in Netflix by 59.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,301,098 shares of the Internet television network’s stock worth $2,051,016,000 after acquiring an additional 856,307 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its position in Netflix by 318.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 976,924 shares of the Internet television network’s stock worth $870,752,000 after acquiring an additional 743,724 shares during the period. Institutional investors and hedge funds own 80.93% of the company’s stock.

Insider Activity at Netflix

In related news, CAO Jeffrey William Karbowski sold 480 shares of the business’s stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $978.18, for a total value of $469,526.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ann Mather sold 1,358 shares of the business’s stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $1,150.00, for a total value of $1,561,700.00. The disclosure for this sale can be found here. In the last three months, insiders sold 185,140 shares of company stock worth $210,271,552. 1.37% of the stock is owned by company insiders.

Netflix Stock Performance

Shares of NFLX stock opened at $1,224.46 on Tuesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. The stock has a market cap of $521.09 billion, a PE ratio of 61.75, a price-to-earnings-growth ratio of 2.12 and a beta of 1.59. The stock has a 50-day moving average of $1,093.58 and a 200-day moving average of $991.46. Netflix, Inc. has a one year low of $587.04 and a one year high of $1,262.81.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, beating analysts’ consensus estimates of $5.74 by $0.87. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The company had revenue of $10.54 billion during the quarter, compared to analysts’ expectations of $10.51 billion. During the same period in the prior year, the business posted $8.28 EPS. As a group, sell-side analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Jefferies Financial Group lifted their price target on shares of Netflix from $1,200.00 to $1,400.00 and gave the stock a “buy” rating in a research note on Tuesday, June 3rd. Phillip Securities upgraded shares of Netflix from a “moderate sell” rating to a “hold” rating in a research note on Monday, April 21st. Macquarie lifted their price target on shares of Netflix from $1,150.00 to $1,200.00 and gave the stock an “outperform” rating in a research note on Monday, April 21st. Guggenheim restated a “buy” rating and issued a $1,150.00 target price (up previously from $1,100.00) on shares of Netflix in a research note on Friday, April 18th. Finally, Citigroup restated a “neutral” rating and issued a $1,250.00 target price (up previously from $1,020.00) on shares of Netflix in a research note on Thursday, May 29th. Eleven equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,149.91.

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.