Netflix, Inc. (NASDAQ:NFLX) Shares Acquired by Ferguson Wellman Capital Management Inc.

Ferguson Wellman Capital Management Inc. grew its holdings in Netflix, Inc. (NASDAQ:NFLX) by 12.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 674 shares of the Internet television network’s stock after buying an additional 75 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Netflix were worth $455,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Malaga Cove Capital LLC increased its position in Netflix by 25.4% during the fourth quarter. Malaga Cove Capital LLC now owns 1,562 shares of the Internet television network’s stock worth $761,000 after purchasing an additional 316 shares during the last quarter. Legacy Financial Advisors Inc. increased its position in Netflix by 8.1% during the fourth quarter. Legacy Financial Advisors Inc. now owns 3,793 shares of the Internet television network’s stock worth $1,847,000 after purchasing an additional 284 shares during the last quarter. LGT Fund Management Co Ltd. increased its position in Netflix by 5.5% during the fourth quarter. LGT Fund Management Co Ltd. now owns 5,766 shares of the Internet television network’s stock worth $2,828,000 after purchasing an additional 300 shares during the last quarter. Lincoln National Corp increased its position in shares of Netflix by 4.9% during the fourth quarter. Lincoln National Corp now owns 8,115 shares of the Internet television network’s stock valued at $3,951,000 after acquiring an additional 379 shares during the last quarter. Finally, M&G Plc acquired a new stake in shares of Netflix during the first quarter valued at about $9,682,000. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Chairman Reed Hastings sold 19,943 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $633.58, for a total value of $12,635,485.94. Following the completion of the transaction, the chairman now owns 57 shares in the company, valued at approximately $36,114.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Netflix 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 legal filing with the SEC, which can be accessed through this link. Also, Chairman Reed Hastings sold 19,943 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $633.58, for a total transaction of $12,635,485.94. Following the sale, the chairman now directly owns 57 shares in the company, valued at $36,114.06. The disclosure for this sale can be found here. Insiders sold 95,218 shares of company stock worth $60,687,405 in the last 90 days. 1.76% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Sanford C. Bernstein lifted their price target on shares of Netflix from $600.00 to $625.00 and gave the company a “market perform” rating in a research report on Friday, July 19th. TD Cowen lifted their price target on shares of Netflix from $725.00 to $775.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Wells Fargo & Company lifted their price target on shares of Netflix from $650.00 to $726.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Piper Sandler lifted their price target on shares of Netflix from $600.00 to $650.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. Finally, Oppenheimer reissued an “outperform” rating and issued a $725.00 price objective on shares of Netflix in a research note on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $681.21.

Netflix Stock Performance

Netflix stock traded up $11.69 during trading hours on Wednesday, reaching $659.71. 2,810,167 shares of the stock were exchanged, compared to its average volume of 3,895,954. The stock has a market cap of $284.34 billion, a P/E ratio of 45.54, a P/E/G ratio of 1.28 and a beta of 1.27. 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, Inc. has a 52-week low of $344.73 and a 52-week high of $697.49. The firm’s 50 day moving average is $653.30 and its 200 day moving average is $619.92.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, topping analysts’ consensus estimates 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%. Netflix’s quarterly revenue was up 16.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.29 EPS. Analysts predict that Netflix, Inc. will post 19.08 EPS for the current fiscal year.

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.