Legacy Financial Advisors Inc. Has $2.83 Million Holdings in Netflix, Inc. (NASDAQ:NFLX)

Legacy Financial Advisors Inc. increased its holdings in Netflix, Inc. (NASDAQ:NFLX) by 5.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,191 shares of the Internet television network’s stock after buying an additional 227 shares during the period. Legacy Financial Advisors Inc.’s holdings in Netflix were worth $2,828,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Wellington Management Group LLP raised its stake in Netflix by 540.9% in the fourth 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 purchasing an additional 3,273,592 shares in the last quarter. GQG Partners LLC bought a new stake in shares of Netflix during the 1st quarter worth approximately $1,450,476,000. Jennison Associates LLC boosted its position in shares of Netflix by 17.0% during 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 acquiring an additional 929,193 shares in the last quarter. Global Assets Advisory LLC bought a new position in Netflix in the first quarter valued at approximately $436,514,000. Finally, Jericho Capital Asset Management L.P. acquired a new position in Netflix during the first quarter valued at approximately $372,293,000. 80.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on NFLX. Morgan Stanley boosted their price target on Netflix from $700.00 to $780.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Rosenblatt Securities reissued a “neutral” rating and set a $635.00 target price on shares of Netflix in a research note on Friday. Bank of America raised their price target on shares of Netflix from $700.00 to $740.00 and gave the company a “buy” rating in a research note on Monday, July 15th. UBS Group upped their price objective on shares of Netflix from $685.00 to $750.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Finally, Citigroup raised their target price on shares of Netflix from $660.00 to $675.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $685.29.

Insiders Place Their Bets

In related news, insider David A. Hyman sold 20,656 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the completion of the transaction, the insider now owns 31,610 shares in the company, valued at $19,128,159.30. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, insider David A. Hyman sold 20,656 shares of the company’s 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Gregory K. Peters sold 1,278 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $614.44, for a total value of $785,254.32. Following the completion of the sale, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at $8,043,019.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 197,226 shares of company stock valued at $129,858,692. Insiders own 1.76% of the company’s stock.

Netflix Stock Performance

Shares of NFLX stock opened at $701.03 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a 50-day moving average of $663.00 and a 200-day moving average of $640.55. Netflix, Inc. has a one year low of $344.73 and a one year high of $715.66. The company has a market cap of $302.14 billion, a P/E ratio of 48.65, a P/E/G ratio of 1.40 and a beta of 1.26.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, beating the consensus estimate of $4.74 by $0.14. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The firm had revenue of $9.56 billion during the quarter, compared to analyst estimates of $9.53 billion. During the same quarter last year, the business posted $3.29 EPS. The company’s revenue for the quarter was up 16.8% on a year-over-year basis. Equities research analysts forecast 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.