Klingman & Associates LLC Grows Stock Holdings in Netflix, Inc. $NFLX

Klingman & Associates LLC grew its position in Netflix, Inc. (NASDAQ:NFLX) by 21.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,487 shares of the Internet television network’s stock after buying an additional 265 shares during the quarter. Klingman & Associates LLC’s holdings in Netflix were worth $1,991,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of NFLX. Stephens Consulting LLC grew its position in Netflix by 150.0% in the 2nd quarter. Stephens Consulting LLC now owns 25 shares of the Internet television network’s stock valued at $33,000 after acquiring an additional 15 shares in the last quarter. Flaharty Asset Management LLC purchased a new position in shares of Netflix in the first quarter valued at approximately $37,000. Maseco LLP acquired a new position in shares of Netflix in the second quarter valued at approximately $39,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in Netflix during the 1st quarter worth approximately $42,000. Finally, 1248 Management LLC purchased a new stake in Netflix during the 1st quarter worth approximately $43,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Stock Up 3.3%

Netflix stock opened at $1,238.56 on Tuesday. The stock has a market cap of $526.30 billion, a PE ratio of 52.77, a P/E/G 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 stock’s fifty day moving average is $1,213.87 and its two-hundred day moving average is $1,182.08. Netflix, Inc. has a 1-year low of $744.26 and a 1-year high of $1,341.15.

Insider Activity

In related news, insider Cletus R. Willems sold 238 shares of the company’s stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $1,153.52, for a total value of $274,537.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gregory K. Peters sold 2,026 shares of the stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $1,157.44, for a total transaction of $2,344,973.44. Following the completion of the transaction, the chief executive officer owned 12,781 shares in the company, valued at $14,793,240.64. This represents a 13.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 104,100 shares of company stock valued at $122,710,980 over the last 90 days. Insiders own 1.37% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on NFLX shares. JPMorgan Chase & Co. raised their price target on shares of Netflix from $1,230.00 to $1,300.00 and gave the company a “neutral” rating in a research report on Friday, July 18th. Piper Sandler increased their price objective on Netflix from $1,400.00 to $1,500.00 and gave the company an “overweight” rating in a research note on Friday, July 18th. Robert W. Baird boosted their target price on Netflix from $1,300.00 to $1,500.00 and gave the stock an “outperform” rating in a research note on Monday, July 21st. Canaccord Genuity Group restated a “buy” rating on shares of Netflix in a report on Thursday, July 10th. Finally, The Goldman Sachs Group decreased their price objective on Netflix from $1,310.00 to $1,300.00 and set a “neutral” rating for the company in a research note on Tuesday, September 30th. Two analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,339.81.

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.