Intelligence Driven Advisers LLC Raises Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Intelligence Driven Advisers LLC grew its holdings in Netflix, Inc. (NASDAQ:NFLX) by 87.1% during the second quarter, HoldingsChannel.com reports. The fund owned 1,046 shares of the Internet television network’s stock after purchasing an additional 487 shares during the quarter. Intelligence Driven Advisers LLC’s holdings in Netflix were worth $706,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Norges Bank acquired a new position in Netflix during the 4th quarter worth $2,558,598,000. Wellington Management Group LLP boosted its holdings 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 buying an additional 3,273,592 shares during the period. GQG Partners LLC acquired a new position in shares of Netflix in the 1st quarter valued at about $1,450,476,000. Jennison Associates LLC boosted its holdings in shares of 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 period. Finally, Global Assets Advisory LLC acquired a new position in shares of Netflix in the 1st quarter valued at about $436,514,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on NFLX shares. Macquarie reiterated an “outperform” rating and issued a $685.00 price objective on shares of Netflix in a research report on Tuesday, July 16th. Bank of America boosted their price target on shares of Netflix from $700.00 to $740.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. TD Cowen boosted their price target on shares of Netflix from $725.00 to $775.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. JPMorgan Chase & Co. boosted their target price on shares of Netflix from $650.00 to $750.00 and gave the stock an “overweight” rating in a report on Friday, July 12th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $725.00 target price on shares of Netflix in a report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $685.29.

Insider Buying and Selling at Netflix

In other Netflix news, Chairman Reed Hastings sold 25,074 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $680.92, for a total transaction of $17,073,388.08. Following the completion of the sale, the chairman now owns 85 shares of the company’s stock, valued at approximately $57,878.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Netflix news, Chairman Reed Hastings sold 25,074 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $680.92, for a total transaction of $17,073,388.08. Following the transaction, the chairman now directly owns 85 shares in the company, valued at approximately $57,878.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider David A. Hyman sold 20,656 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total value of $12,499,565.28. Following the transaction, the insider now owns 31,610 shares in the company, valued at $19,128,159.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 157,831 shares of company stock valued at $102,721,884. 1.76% of the stock is currently owned by company insiders.

Netflix Trading Down 2.6 %

Shares of Netflix stock traded down $17.85 on Friday, hitting $665.77. The stock had a trading volume of 2,991,265 shares, compared to its average volume of 3,796,436. The stock has a 50 day moving average of $659.89 and a 200 day moving average of $633.82. Netflix, Inc. has a twelve month low of $344.73 and a twelve month high of $711.33. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market capitalization of $286.95 billion, a P/E ratio of 46.20, a PEG ratio of 1.44 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) 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 quarter in the prior year, the firm posted $3.29 earnings per share. The firm’s revenue was up 16.8% compared to the same quarter last year. Sell-side analysts expect that Netflix, Inc. will post 19.08 earnings per share 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.