Intelligence Driven Advisers LLC Acquires 487 Shares of Netflix, Inc. (NASDAQ:NFLX)

Intelligence Driven Advisers LLC raised its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 87.1% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,046 shares of the Internet television network’s stock after acquiring an additional 487 shares during the period. Intelligence Driven Advisers LLC’s holdings in Netflix were worth $706,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Norges Bank purchased a new position in shares of Netflix during the 4th quarter valued at approximately $2,558,598,000. Wellington Management Group LLP grew its position in shares of Netflix by 540.9% during the fourth quarter. Wellington Management Group LLP now owns 3,878,785 shares of the Internet television network’s stock worth $1,888,503,000 after acquiring an additional 3,273,592 shares during the last quarter. GQG Partners LLC purchased a new position in Netflix in the 1st quarter valued at $1,450,476,000. Jennison Associates LLC grew its position in Netflix by 17.0% in the 1st quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock valued at $3,875,655,000 after buying an additional 929,193 shares during the last quarter. Finally, Global Assets Advisory LLC acquired a new stake in Netflix in the first quarter valued at $436,514,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NFLX has been the subject of a number of recent research reports. Morgan Stanley lifted their price objective on Netflix from $700.00 to $780.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Loop Capital upped their price target on Netflix from $700.00 to $750.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. Redburn Atlantic increased their price target on Netflix from $740.00 to $760.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Macquarie reissued an “outperform” rating and issued a $685.00 price target on shares of Netflix in a research note on Tuesday, July 16th. Finally, JPMorgan Chase & Co. upped their target price on Netflix from $650.00 to $750.00 and gave the company an “overweight” rating in a report on Friday, July 12th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $685.29.

Insider Transactions at Netflix

In related news, Chairman Reed Hastings sold 25,074 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $680.92, for a total value of $17,073,388.08. Following the transaction, the chairman now directly owns 85 shares of the company’s stock, valued at approximately $57,878.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Chairman Reed Hastings sold 25,074 shares of Netflix stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $680.92, for a total value of $17,073,388.08. Following the completion of the sale, the chairman now owns 85 shares in the company, valued at approximately $57,878.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David A. Hyman sold 20,656 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the completion of the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $19,128,159.30. The disclosure for this sale can be found here. Insiders have sold a total of 157,831 shares of company stock valued at $102,721,884 in the last ninety days. 1.76% of the stock is currently owned by corporate insiders.

Netflix Trading Down 2.6 %

Shares of NASDAQ NFLX traded down $17.85 during trading hours on Friday, reaching $665.77. The stock had a trading volume of 2,991,265 shares, compared to its average volume of 3,796,436. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. The firm has a market cap of $286.95 billion, a price-to-earnings ratio of 46.20, a P/E/G ratio of 1.44 and a beta of 1.27. The business’s fifty day moving average price is $659.89 and its two-hundred day moving average price is $633.82. Netflix, Inc. has a 52-week low of $344.73 and a 52-week high of $711.33.

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

About Netflix

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.