Zega Financial LLC Has $1.05 Million Stake in Netflix, Inc. (NASDAQ:NFLX)

Zega Financial LLC grew its position in Netflix, Inc. (NASDAQ:NFLX) by 7.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,556 shares of the Internet television network’s stock after buying an additional 107 shares during the quarter. Zega Financial LLC’s holdings in Netflix were worth $1,050,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Personalized Indexing Management LLC increased its stake in Netflix by 11.1% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 46,383 shares of the Internet television network’s stock valued at $30,735,000 after acquiring an additional 4,646 shares during the last quarter. Tredje AP fonden lifted its stake in Netflix by 3.8% during the second quarter. Tredje AP fonden now owns 77,383 shares of the Internet television network’s stock worth $52,224,000 after purchasing an additional 2,827 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its holdings in shares of Netflix by 2.5% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 13,201 shares of the Internet television network’s stock valued at $8,909,000 after purchasing an additional 320 shares in the last quarter. Argent Trust Co increased its stake in shares of Netflix by 14.7% in the 2nd quarter. Argent Trust Co now owns 2,992 shares of the Internet television network’s stock valued at $2,019,000 after purchasing an additional 383 shares during the last quarter. Finally, Meiji Yasuda Life Insurance Co raised its holdings in shares of Netflix by 10.9% during the 2nd quarter. Meiji Yasuda Life Insurance Co now owns 17,286 shares of the Internet television network’s stock worth $11,666,000 after buying an additional 1,700 shares in the last quarter. Institutional investors own 80.93% of the company’s stock.

Insider Transactions at Netflix

In related news, CFO Spencer Adam Neumann sold 433 shares of the business’s stock in a transaction on 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 SEC, which is available at this hyperlink. In other Netflix news, Chairman Reed Hastings sold 22,526 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $670.49, for a total value of $15,103,457.74. Following the completion of the sale, the chairman now owns 57 shares of the company’s stock, valued at $38,217.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Spencer Adam Neumann sold 433 shares of the business’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 disclosure for this sale can be found here. Insiders sold a total of 196,798 shares of company stock valued at $129,552,672 in the last quarter. 1.76% of the stock is currently owned by company insiders.

Netflix Stock Performance

Shares of Netflix stock opened at $706.91 on Wednesday. The business has a 50-day moving average price of $660.64 and a two-hundred day moving average price of $639.15. Netflix, Inc. has a 1-year low of $344.73 and a 1-year high of $711.33. 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 cap of $304.68 billion, a P/E ratio of 49.06, a PEG ratio of 1.40 and a beta of 1.26.

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

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Loop Capital raised their price objective on Netflix from $700.00 to $750.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. UBS Group raised their price target on shares of Netflix from $685.00 to $750.00 and gave the company a “buy” rating in a research note on Friday, July 19th. Guggenheim lifted their price target on shares of Netflix from $700.00 to $735.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. The Goldman Sachs Group increased their price objective on shares of Netflix from $650.00 to $659.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Finally, Argus raised their target price 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. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $685.29.

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.