Circle Wealth Management LLC Buys 1,516 Shares of Netflix, Inc. (NASDAQ:NFLX)

Circle Wealth Management LLC grew its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 37.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,618 shares of the Internet television network’s stock after purchasing an additional 1,516 shares during the quarter. Circle Wealth Management LLC’s holdings in Netflix were worth $3,791,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Wellington Management Group LLP lifted its holdings 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 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 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 valued at $3,875,655,000 after purchasing an additional 929,193 shares in the last quarter. Global Assets Advisory LLC acquired a new stake in Netflix during the first quarter worth approximately $436,514,000. Finally, Jericho Capital Asset Management L.P. bought a new stake in Netflix in the first quarter worth approximately $372,293,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on NFLX shares. StockNews.com upgraded Netflix from a “hold” rating to a “buy” rating in a report on Sunday, September 15th. Bank of America raised their price target on shares of Netflix from $700.00 to $740.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Needham & Company LLC reiterated a “buy” rating and set a $700.00 price objective on shares of Netflix in a report on Friday, July 19th. China Renaissance initiated coverage on shares of Netflix in a research report on Thursday, September 5th. They set a “hold” rating and a $680.00 price objective on the stock. Finally, KeyCorp boosted their target price on Netflix from $707.00 to $735.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat, Netflix currently has an average rating of “Moderate Buy” and a consensus target price of $685.29.

Netflix Price Performance

Shares of NASDAQ:NFLX opened at $701.03 on Friday. The company has a market capitalization of $302.14 billion, a P/E ratio of 48.65, a price-to-earnings-growth ratio of 1.40 and a beta of 1.26. The company’s 50-day moving average is $663.00 and its 200 day moving average is $640.85. 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 fifty-two week low of $344.73 and a fifty-two week high of $715.66.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $9.53 billion. During the same period in the previous year, the company earned $3.29 earnings per share. The company’s quarterly revenue was up 16.8% on a year-over-year basis. On average, equities research analysts forecast that Netflix, Inc. will post 19.08 earnings per share for the current year.

Insider Buying and Selling at Netflix

In other Netflix news, CEO Gregory K. Peters sold 1,278 shares of the business’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 sale, the chief executive officer now directly owns 13,090 shares in the company, valued at $8,043,019.60. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Gregory K. Peters sold 4,644 shares of Netflix stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $700.00, for a total value of $3,250,800.00. Following the completion of the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at approximately $9,163,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gregory K. Peters sold 1,278 shares of the 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 sale, the chief executive officer now owns 13,090 shares in the company, valued at approximately $8,043,019.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 197,226 shares of company stock valued at $129,858,692. Company insiders own 1.76% of the company’s stock.

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.