Great Valley Advisor Group Inc. Boosts Stake in Netflix, Inc. (NASDAQ:NFLX)

Great Valley Advisor Group Inc. grew its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 4.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,923 shares of the Internet television network’s stock after purchasing an additional 370 shares during the period. Great Valley Advisor Group Inc.’s holdings in Netflix were worth $5,347,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Netflix by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 36,587,911 shares of the Internet television network’s stock worth $22,220,936,000 after purchasing an additional 149,341 shares during the period. Capital World Investors lifted its stake in Netflix by 0.7% in the 4th quarter. Capital World Investors now owns 11,744,636 shares of the Internet television network’s stock valued at $5,718,265,000 after buying an additional 78,320 shares in the last quarter. Jennison Associates LLC lifted its stake 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 worth $3,875,655,000 after purchasing an additional 929,193 shares in the last quarter. Norges Bank acquired a new stake in shares of Netflix during the 4th quarter worth approximately $2,558,598,000. Finally, Fisher Asset Management LLC increased its holdings in shares of Netflix by 1.9% during the 4th quarter. Fisher Asset Management LLC now owns 4,121,104 shares of the Internet television network’s stock worth $2,006,483,000 after buying an additional 78,298 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Sanford C. Bernstein lifted their target price on shares of Netflix from $600.00 to $625.00 and gave the company a “market perform” rating in a report on Friday, July 19th. Wells Fargo & Company increased their price objective on Netflix from $650.00 to $726.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Rosenblatt Securities increased their price objective on Netflix from $554.00 to $635.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. TD Cowen increased their price objective on Netflix from $725.00 to $775.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Finally, JPMorgan Chase & Co. increased their price objective on Netflix from $650.00 to $750.00 and gave the company an “overweight” rating in a research note on Friday, July 12th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $681.21.

Netflix Stock Up 2.0 %

NFLX stock traded up $13.16 during trading on Wednesday, reaching $661.18. The stock had a trading volume of 1,604,436 shares, compared to its average volume of 3,888,225. Netflix, Inc. has a 1-year low of $344.73 and a 1-year high of $697.49. 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 company has a market capitalization of $284.97 billion, a P/E ratio of 45.54, a PEG ratio of 1.28 and a beta of 1.27. The firm has a fifty day moving average price of $653.30 and a 200 day moving average price of $619.92.

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

Insider Activity at Netflix

In other Netflix news, CFO Spencer Adam Neumann sold 433 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $626.19, for a total value of $271,140.27. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CFO Spencer Adam Neumann sold 433 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $626.19, for a total transaction of $271,140.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider David A. Hyman sold 20,656 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the sale, the insider now 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 sold a total of 95,218 shares of company stock valued at $60,687,405 over the last ninety days. Insiders own 1.76% of the company’s stock.

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.