Netflix, Inc. (NASDAQ:NFLX) Shares Bought by Meridian Wealth Partners LLC

Meridian Wealth Partners LLC lifted its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 6.9% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 356 shares of the Internet television network’s stock after buying an additional 23 shares during the quarter. Meridian Wealth Partners LLC’s holdings in Netflix were worth $240,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Wellington Management Group LLP grew its stake in shares of Netflix by 540.9% in the 4th 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 purchasing an additional 3,273,592 shares during the last quarter. GQG Partners LLC acquired a new stake in shares of Netflix during the first quarter worth $1,450,476,000. Jennison Associates LLC lifted its holdings in shares of 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 purchasing an additional 929,193 shares during the period. Global Assets Advisory LLC purchased a new position in Netflix in the 1st quarter valued at $436,514,000. Finally, Jericho Capital Asset Management L.P. acquired a new position in Netflix in the 1st quarter valued at $372,293,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

Wall Street Analyst Weigh In

NFLX has been the subject of several recent analyst reports. Evercore ISI raised their target price on shares of Netflix from $710.00 to $750.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 27th. Macquarie restated an “outperform” rating and issued a $685.00 price objective on shares of Netflix in a research report on Tuesday, July 16th. Citigroup boosted their target price on Netflix from $660.00 to $675.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Guggenheim raised their price target on Netflix from $700.00 to $735.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Finally, Morgan Stanley lifted their price target on Netflix from $700.00 to $780.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $685.29.

Insider Buying and Selling

In other Netflix news, Director Leslie J. Kilgore sold 1,372 shares of Netflix stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $704.81, for a total value of $966,999.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Netflix news, Director Leslie J. Kilgore sold 1,372 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $704.81, for a total transaction of $966,999.32. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Gregory K. Peters sold 1,278 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $614.44, for a total transaction of $785,254.32. Following the sale, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at $8,043,019.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 196,798 shares of company stock worth $129,552,672. 1.76% of the stock is owned by company insiders.

Netflix Stock Performance

Shares of NFLX opened at $706.91 on Wednesday. Netflix, Inc. has a 1 year low of $344.73 and a 1 year high of $711.33. The company’s 50 day simple moving average is $660.64 and its 200 day simple moving average is $639.15. The company has a market capitalization of $304.68 billion, a price-to-earnings ratio of 49.06, a PEG ratio of 1.40 and a beta of 1.26. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, beating the consensus estimate of $4.74 by $0.14. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The company had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $9.53 billion. During the same period in the previous year, the firm posted $3.29 EPS. Netflix’s revenue was up 16.8% on a year-over-year basis. On average, sell-side analysts predict that Netflix, Inc. will post 19.08 EPS for the current year.

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.