Netflix, Inc. (NASDAQ:NFLX) Shares Bought by Legal & General Group Plc

Legal & General Group Plc grew its position in Netflix, Inc. (NASDAQ:NFLX) by 3.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,449,114 shares of the Internet television network’s stock after acquiring an additional 104,332 shares during the quarter. Netflix comprises approximately 0.5% of Legal & General Group Plc’s portfolio, making the stock its 25th biggest position. Legal & General Group Plc owned approximately 0.80% of Netflix worth $2,327,738,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Wellington Management Group LLP grew its stake in shares of Netflix by 540.9% in the 4th 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 during the last quarter. GQG Partners LLC acquired a new stake in shares of Netflix during the first quarter worth $1,450,476,000. Jennison Associates LLC grew its position in 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 buying an additional 929,193 shares during the last quarter. Global Assets Advisory LLC acquired a new position in Netflix in the 1st quarter valued at $436,514,000. Finally, Jericho Capital Asset Management L.P. purchased a new position in Netflix during the 1st quarter worth $372,293,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Netflix

In other news, insider David A. Hyman sold 20,656 shares of the business’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 transaction 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 legal filing with the SEC, which is accessible through this link. In related news, insider David A. Hyman sold 20,656 shares of the company’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 sale, the insider now owns 31,610 shares of the company’s stock, valued at $19,128,159.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Reed Hastings sold 22,526 shares of the business’s stock in a transaction dated 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 in the company, valued at $38,217.93. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 202,020 shares of company stock worth $133,334,342. 1.76% of the stock is owned by company insiders.

Netflix Trading Down 1.4 %

NASDAQ:NFLX opened at $711.43 on Friday. The firm has a market capitalization of $306.63 billion, a P/E ratio of 49.37, a P/E/G ratio of 1.44 and a beta of 1.26. The business has a 50 day simple moving average of $668.14 and a 200 day simple moving average of $643.69. 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 12-month low of $344.73 and a 12-month high of $725.26.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (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 company had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $9.53 billion. During the same quarter in the previous year, the company posted $3.29 earnings per share. The company’s revenue for the quarter was up 16.8% compared to the same quarter last year. Equities research analysts predict that Netflix, Inc. will post 19.08 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NFLX. Macquarie reiterated an “outperform” rating and set a $685.00 price target on shares of Netflix in a research note on Tuesday, July 16th. Bank of America boosted their target price on Netflix from $700.00 to $740.00 and gave the stock a “buy” rating in a research 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, September 20th. TD Cowen lifted their price target on Netflix from $725.00 to $775.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Finally, Pivotal Research increased their price objective on Netflix from $800.00 to $900.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average 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.