Wellington Wealth Strategies LLC. Purchases New Shares in Netflix, Inc. (NASDAQ:NFLX)

Wellington Wealth Strategies LLC. acquired a new stake in Netflix, Inc. (NASDAQ:NFLX) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 645 shares of the Internet television network’s stock, valued at approximately $435,000. Netflix comprises approximately 1.9% of Wellington Wealth Strategies LLC.’s investment portfolio, making the stock its 7th biggest holding.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sunbelt Securities Inc. raised its position in Netflix by 5.4% in the 2nd quarter. Sunbelt Securities Inc. now owns 3,599 shares of the Internet television network’s stock worth $2,429,000 after purchasing an additional 185 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Netflix by 0.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 65,081 shares of the Internet television network’s stock valued at $43,919,000 after buying an additional 482 shares during the period. NewEdge Advisors LLC increased its stake in shares of Netflix by 28.2% in the 2nd quarter. NewEdge Advisors LLC now owns 40,624 shares of the Internet television network’s stock valued at $27,416,000 after buying an additional 8,932 shares during the period. Silver Lake Advisory LLC bought a new stake in shares of Netflix during the second quarter worth $1,025,000. Finally, Magnolia Capital Advisors LLC lifted its stake in shares of Netflix by 3.0% during the second quarter. Magnolia Capital Advisors LLC now owns 961 shares of the Internet television network’s stock valued at $649,000 after acquiring an additional 28 shares during the period. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Netflix Stock Performance

Shares of NFLX opened at $707.35 on Monday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. Netflix, Inc. has a 12 month low of $344.73 and a 12 month high of $725.26. The firm has a fifty day simple moving average of $669.62 and a 200 day simple moving average of $644.91. The stock has a market capitalization of $304.87 billion, a price-to-earnings ratio of 49.09, a PEG ratio of 1.44 and a beta of 1.26.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $9.53 billion. During the same quarter last year, the company earned $3.29 EPS. Netflix’s revenue for the quarter was up 16.8% compared to the same quarter last year. Research analysts forecast that Netflix, Inc. will post 19.08 EPS for the current fiscal year.

Analysts Set New Price Targets

NFLX has been the subject of a number of research reports. Loop Capital lifted their price objective on Netflix from $700.00 to $750.00 and gave the stock a “buy” rating in a research report on Tuesday, June 18th. Benchmark lifted 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. Redburn Atlantic increased their price objective on shares of Netflix from $740.00 to $760.00 and gave the company a “buy” rating in a report on Friday, July 19th. Jefferies Financial Group lifted their target price on shares of Netflix from $655.00 to $780.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Finally, JPMorgan Chase & Co. increased their price target on Netflix from $650.00 to $750.00 and gave the company an “overweight” rating in a research note on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $685.29.

Insiders Place Their Bets

In other news, CEO Gregory K. Peters sold 4,392 shares of the stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $725.00, for a total value of $3,184,200.00. Following the completion of the sale, the chief executive officer now owns 13,090 shares of the company’s stock, valued at approximately $9,490,250. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Leslie J. Kilgore sold 402 shares of the business’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $725.00, for a total transaction of $291,450.00. Following the transaction, the director now directly owns 35,262 shares in the company, valued at approximately $25,564,950. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gregory K. Peters sold 4,392 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $725.00, for a total transaction of $3,184,200.00. Following the completion of the sale, the chief executive officer now owns 13,090 shares of the company’s stock, valued at $9,490,250. The disclosure for this sale can be found here. Insiders have sold 179,494 shares of company stock valued at $118,230,884 in the last 90 days. 1.76% of the stock is currently owned by 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.