Sierra Summit Advisors LLC Has $5.72 Million Position in Netflix, Inc. (NASDAQ:NFLX)

Sierra Summit Advisors LLC boosted its position in Netflix, Inc. (NASDAQ:NFLX) by 12.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,474 shares of the Internet television network’s stock after purchasing an additional 951 shares during the quarter. Sierra Summit Advisors LLC’s holdings in Netflix were worth $5,719,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. M&G Plc bought a new position in Netflix during the first quarter worth about $9,682,000. BSN CAPITAL PARTNERS Ltd grew its position in shares of Netflix by 24.4% during the 1st quarter. BSN CAPITAL PARTNERS Ltd now owns 250,000 shares of the Internet television network’s stock worth $155,185,000 after purchasing an additional 49,000 shares in the last quarter. Scarborough Advisors LLC bought a new position in shares of Netflix during the fourth quarter worth approximately $9,513,000. Scotia Capital Inc. raised its position in shares of Netflix by 9.1% in the fourth quarter. Scotia Capital Inc. now owns 25,351 shares of the Internet television network’s stock valued at $12,343,000 after buying an additional 2,110 shares in the last quarter. Finally, Focus Financial Network Inc. ADV bought a new stake in shares of Netflix in the fourth quarter valued at approximately $3,700,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NFLX has been the topic of a number of recent analyst reports. KeyCorp raised their price target on Netflix from $707.00 to $735.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. TD Cowen raised their target price on shares of Netflix from $725.00 to $775.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. Benchmark upped their price target on shares of Netflix from $450.00 to $545.00 and gave the stock a “sell” rating in a report on Tuesday, July 16th. Argus boosted their price objective on shares of Netflix from $660.00 to $767.00 and gave the company a “buy” rating in a research report on Tuesday, July 2nd. Finally, Rosenblatt Securities raised their target price on Netflix from $554.00 to $635.00 and gave the company a “neutral” rating in a report on Friday, July 19th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $685.29.

Netflix Trading Up 1.5 %

Shares of Netflix stock opened at $697.06 on Monday. The stock has a market capitalization of $299.16 billion, a P/E ratio of 48.37, a P/E/G ratio of 1.40 and a beta of 1.26. Netflix, Inc. has a 52-week low of $344.73 and a 52-week 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 stock’s 50-day simple moving average is $660.00 and its 200 day simple moving average is $637.88.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $9.56 billion for the quarter, compared to the consensus estimate of $9.53 billion. During the same quarter in the prior year, the business posted $3.29 earnings per share. The business’s quarterly revenue was up 16.8% on a year-over-year basis. As a group, research analysts anticipate that Netflix, Inc. will post 19.08 EPS for the current year.

Insiders Place Their Bets

In other news, Director Jay C. Hoag sold 43,750 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $687.07, for a total transaction of $30,059,312.50. Following the completion of the transaction, the director now directly owns 95,040 shares in the company, valued at approximately $65,299,132.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Chairman Reed Hastings sold 22,526 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $670.49, for a total transaction of $15,103,457.74. Following the sale, the chairman now owns 57 shares in the company, valued at approximately $38,217.93. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jay C. Hoag sold 43,750 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $687.07, for a total value of $30,059,312.50. Following the completion of the transaction, the director now owns 95,040 shares of the company’s stock, valued at $65,299,132.80. The disclosure for this sale can be found here. Insiders have sold 196,798 shares of company stock worth $129,552,672 in the last three months. 1.76% of the stock is currently owned by corporate insiders.

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.