Netflix, Inc. $NFLX Shares Purchased by Princeton Global Asset Management LLC

Princeton Global Asset Management LLC boosted its stake in Netflix, Inc. (NASDAQ:NFLX) by 13.1% in the 2nd quarter, Holdings Channel reports. The firm owned 328 shares of the Internet television network’s stock after purchasing an additional 38 shares during the period. Princeton Global Asset Management LLC’s holdings in Netflix were worth $439,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in NFLX. Optima Capital LLC boosted its position in Netflix by 3.5% in the 2nd quarter. Optima Capital LLC now owns 239 shares of the Internet television network’s stock valued at $320,000 after buying an additional 8 shares during the period. Unified Investment Management boosted its position in Netflix by 1.7% in the 2nd quarter. Unified Investment Management now owns 474 shares of the Internet television network’s stock valued at $635,000 after buying an additional 8 shares during the period. Plancorp LLC boosted its position in Netflix by 0.6% in the 2nd quarter. Plancorp LLC now owns 1,278 shares of the Internet television network’s stock valued at $1,711,000 after buying an additional 8 shares during the period. Five Oceans Advisors boosted its position in Netflix by 1.1% in the 2nd quarter. Five Oceans Advisors now owns 751 shares of the Internet television network’s stock valued at $1,006,000 after buying an additional 8 shares during the period. Finally, Old Port Advisors boosted its position in Netflix by 1.3% in the 2nd quarter. Old Port Advisors now owns 624 shares of the Internet television network’s stock valued at $836,000 after buying an additional 8 shares during the period. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Price Performance

Shares of NFLX opened at $1,199.36 on Monday. Netflix, Inc. has a 1-year low of $736.23 and a 1-year high of $1,341.15. The stock has a market cap of $509.64 billion, a PE ratio of 51.10, a price-to-earnings-growth ratio of 2.02 and a beta of 1.59. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.34 and a quick ratio of 1.34. The firm has a fifty day moving average price of $1,213.47 and a 200 day moving average price of $1,179.41.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share for the quarter, beating analysts’ consensus estimates of $7.07 by $0.12. The firm had revenue of $11.08 billion during the quarter, compared to analysts’ expectations of $11.04 billion. Netflix had a net margin of 24.58% and a return on equity of 42.50%. Netflix’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period in the previous year, the company earned $4.88 earnings per share. As a group, sell-side analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on NFLX shares. Wells Fargo & Company raised their price target on shares of Netflix from $1,500.00 to $1,560.00 and gave the company an “overweight” rating in a research report on Friday, July 18th. Sanford C. Bernstein reaffirmed a “buy” rating on shares of Netflix in a research report on Friday. Zacks Research cut shares of Netflix from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 1st. Wall Street Zen cut shares of Netflix from a “buy” rating to a “hold” rating in a research report on Saturday, October 4th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $1,425.00 price objective (up from $1,200.00) on shares of Netflix in a research report on Tuesday, July 15th. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $1,339.81.

Insider Buying and Selling

In other Netflix news, insider David A. Hyman sold 424 shares of Netflix stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $1,158.67, for a total value of $491,276.08. Following the transaction, the insider directly owned 31,610 shares in the company, valued at approximately $36,625,558.70. The trade was a 1.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Spencer Adam Neumann sold 2,601 shares of Netflix stock in a transaction on Friday, August 1st. The shares were sold at an average price of $1,162.40, for a total transaction of $3,023,402.40. Following the completion of the transaction, the chief financial officer owned 3,691 shares in the company, valued at approximately $4,290,418.40. This represents a 41.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 104,100 shares of company stock valued at $122,710,980 in the last quarter. Corporate insiders own 1.37% of the company’s stock.

Netflix 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.