Fairscale Capital LLC Purchases New Position in Netflix, Inc. (NASDAQ:NFLX)

Fairscale Capital LLC acquired a new position in shares of Netflix, Inc. (NASDAQ:NFLX) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,412 shares of the Internet television network’s stock, valued at approximately $927,000. Netflix comprises approximately 0.8% of Fairscale Capital LLC’s investment portfolio, making the stock its 27th biggest holding.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP lifted 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 buying an additional 3,273,592 shares during the last quarter. GQG Partners LLC acquired a new position in shares of Netflix in the 1st quarter valued at $1,450,476,000. Jennison Associates LLC increased its holdings in shares of Netflix by 17.0% in 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 acquiring an additional 929,193 shares during the period. Global Assets Advisory LLC purchased a new stake in Netflix in the 1st quarter valued at $436,514,000. Finally, Jericho Capital Asset Management L.P. acquired a new stake in Netflix during the 1st quarter worth $372,293,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

Analysts Set New Price Targets

NFLX has been the topic of a number of recent research reports. Evercore ISI lifted their price objective on shares of Netflix from $710.00 to $750.00 and gave the company an “outperform” rating in a research note on Tuesday, August 27th. Argus boosted their price target on Netflix from $660.00 to $767.00 and gave the company a “buy” rating in a research report on Tuesday, July 2nd. JPMorgan Chase & Co. increased their price objective on Netflix from $650.00 to $750.00 and gave the stock an “overweight” rating in a research report on Friday, July 12th. Bank of America boosted their target price on Netflix from $700.00 to $740.00 and gave the company a “buy” rating in a report on Monday, July 15th. Finally, Loop Capital increased their price target on Netflix from $700.00 to $750.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. One equities research 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $685.29.

Netflix Stock Performance

NASDAQ:NFLX opened at $701.03 on Friday. 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 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 firm has a 50-day moving average price of $663.00 and a two-hundred day moving average price of $640.85. Netflix, Inc. has a twelve month low of $344.73 and a twelve month high of $715.66.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results 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 business had revenue of $9.56 billion for the quarter, compared to analyst estimates of $9.53 billion. During the same period in the prior year, the business earned $3.29 earnings per share. The company’s quarterly revenue was up 16.8% on a year-over-year basis. As a group, research analysts expect that Netflix, Inc. will post 19.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Leslie J. Kilgore sold 428 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $715.00, for a total value of $306,020.00. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Gregory K. Peters sold 1,278 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $614.44, for a total transaction of $785,254.32. Following the sale, the chief executive officer now owns 13,090 shares in the company, valued at $8,043,019.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Leslie J. Kilgore sold 428 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $715.00, for a total value of $306,020.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 197,226 shares of company stock valued at $129,858,692. Corporate insiders own 1.76% of the company’s stock.

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.