Kathmere Capital Management LLC Takes $416,000 Position in Netflix, Inc. (NASDAQ:NFLX)

Kathmere Capital Management LLC bought a new stake in Netflix, Inc. (NASDAQ:NFLX) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 616 shares of the Internet television network’s stock, valued at approximately $416,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Raab & Moskowitz Asset Management LLC boosted its stake in Netflix by 13.1% during the 2nd quarter. Raab & Moskowitz Asset Management LLC now owns 1,061 shares of the Internet television network’s stock valued at $716,000 after acquiring an additional 123 shares during the last quarter. Dorsey Wright & Associates boosted its stake in Netflix by 2.3% during the 2nd quarter. Dorsey Wright & Associates now owns 3,193 shares of the Internet television network’s stock valued at $2,155,000 after acquiring an additional 71 shares during the last quarter. Beaird Harris Wealth Management LLC boosted its stake in Netflix by 113.3% during the 2nd quarter. Beaird Harris Wealth Management LLC now owns 96 shares of the Internet television network’s stock valued at $65,000 after acquiring an additional 51 shares during the last quarter. Shellback Capital LP boosted its stake in Netflix by 33.3% during the 2nd quarter. Shellback Capital LP now owns 30,000 shares of the Internet television network’s stock valued at $20,246,000 after acquiring an additional 7,500 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in Netflix by 3.1% during the 2nd quarter. Legal & General Group Plc now owns 3,449,114 shares of the Internet television network’s stock valued at $2,327,738,000 after acquiring an additional 104,332 shares during the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Netflix Stock Performance

Shares of NFLX opened at $707.35 on Friday. Netflix, Inc. has a 12-month low of $344.73 and a 12-month high of $725.26. The firm’s 50 day moving average is $669.62 and its 200-day moving average is $644.66. The stock has a market capitalization of $304.87 billion, a P/E ratio of 49.09, a P/E/G ratio of 1.44 and a beta of 1.26. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95.

Netflix (NASDAQ:NFLX) last announced 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. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The company had revenue of $9.56 billion during the quarter, compared to analysts’ expectations of $9.53 billion. During the same period last year, the company posted $3.29 earnings per share. The business’s revenue for the quarter was up 16.8% on a year-over-year basis. Equities research analysts anticipate that Netflix, Inc. will post 19.08 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. StockNews.com upgraded shares of Netflix from a “hold” rating to a “buy” rating in a research note on Tuesday, September 24th. 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 research report on Monday, July 15th. Needham & Company LLC restated a “buy” rating and issued a $700.00 price target on shares of Netflix in a research report on Friday, July 19th. Benchmark raised their price target on shares of Netflix from $450.00 to $545.00 and gave the stock a “sell” rating in a research report on Tuesday, July 16th. Finally, Rosenblatt Securities restated a “neutral” rating and issued a $635.00 price target on shares of Netflix in a research report on Friday, September 20th. One 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 data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $685.29.

Insiders Place Their Bets

In other Netflix news, insider David A. Hyman sold 20,656 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total value of $12,499,565.28. Following the completion of the transaction, the insider now directly owns 31,610 shares in the company, valued at $19,128,159.30. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider David A. Hyman sold 20,656 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now directly owns 31,610 shares in the company, valued at $19,128,159.30. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 transaction of $15,103,457.74. Following the sale, the chairman now owns 57 shares of the company’s stock, valued at $38,217.93. The disclosure for this sale can be found here. Insiders sold a total of 202,020 shares of company stock worth $133,334,342 over the last ninety days. 1.76% of the stock is currently owned by company insiders.

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.