Edge Capital Group LLC Increases Holdings in Netflix, Inc. (NASDAQ:NFLX)

Edge Capital Group LLC boosted its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 4.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,737 shares of the Internet television network’s stock after purchasing an additional 79 shares during the period. Edge Capital Group LLC’s holdings in Netflix were worth $1,172,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of NFLX. Wellington Management Group LLP grew its holdings in shares of Netflix by 540.9% during the 4th quarter. Wellington Management Group LLP now owns 3,878,785 shares of the Internet television network’s stock worth $1,888,503,000 after acquiring an additional 3,273,592 shares during the period. GQG Partners LLC purchased a new position in shares of Netflix during the 1st quarter worth approximately $1,450,476,000. Jennison Associates LLC grew its holdings 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 during the period. Global Assets Advisory LLC purchased a new position in shares of Netflix during the 1st quarter worth approximately $436,514,000. Finally, Jericho Capital Asset Management L.P. purchased a new position in shares of Netflix during the 1st quarter worth approximately $372,293,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Insider Buying and Selling

In related news, insider David A. Hyman sold 20,656 shares of the firm’s stock in a transaction 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 directly owns 31,610 shares of the company’s stock, valued at approximately $19,128,159.30. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Leslie J. Kilgore sold 428 shares of the firm’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 legal filing with the SEC, which is available through this link. Also, insider David A. Hyman sold 20,656 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now directly owns 31,610 shares in the company, valued at $19,128,159.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 197,226 shares of company stock valued at $129,858,692. 1.76% of the stock is owned by company insiders.

Netflix Price Performance

NASDAQ NFLX opened at $701.03 on Monday. The business’s fifty day moving average price is $663.00 and its 200-day moving average price is $641.15. The stock has a market capitalization of $302.14 billion, a price-to-earnings ratio of 48.65, a PEG ratio of 1.40 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, Inc. has a 1-year low of $344.73 and a 1-year high of $715.66.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, topping analysts’ consensus estimates of $4.74 by $0.14. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The company had revenue of $9.56 billion for the quarter, compared to analysts’ expectations of $9.53 billion. During the same period last year, the firm earned $3.29 EPS. Netflix’s revenue for the quarter was up 16.8% compared to the same quarter last year. On average, equities analysts predict that Netflix, Inc. will post 19.08 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. The Goldman Sachs Group upped their target price on Netflix from $650.00 to $659.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. Rosenblatt Securities reiterated a “neutral” rating and set a $635.00 target price on shares of Netflix in a report on Friday. Guggenheim upped their price target on Netflix from $700.00 to $735.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. UBS Group upped their price target on Netflix from $685.00 to $750.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Finally, Oppenheimer restated an “outperform” rating and issued a $725.00 price target on shares of Netflix in a research note on Tuesday, July 30th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.