Netflix, Inc. $NFLX Shares Bought by Balboa Wealth Partners

Balboa Wealth Partners raised its holdings in Netflix, Inc. (NASDAQ:NFLX) by 111.6% in the 2nd quarter, HoldingsChannel reports. The fund owned 2,801 shares of the Internet television network’s stock after acquiring an additional 1,477 shares during the period. Netflix makes up 0.8% of Balboa Wealth Partners’ investment portfolio, making the stock its 25th largest position. Balboa Wealth Partners’ holdings in Netflix were worth $3,751,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Stephens Consulting LLC increased its holdings in shares of Netflix by 150.0% during the 2nd quarter. Stephens Consulting LLC now owns 25 shares of the Internet television network’s stock worth $33,000 after buying an additional 15 shares during the last quarter. Maseco LLP acquired a new stake in shares of Netflix during the 2nd quarter worth $39,000. Ransom Advisory Ltd acquired a new stake in shares of Netflix during the 2nd quarter worth $47,000. Flaharty Asset Management LLC acquired a new stake in shares of Netflix during the 1st quarter worth $37,000. Finally, Signature Resources Capital Management LLC increased its holdings in shares of Netflix by 740.0% during the 2nd quarter. Signature Resources Capital Management LLC now owns 42 shares of the Internet television network’s stock worth $56,000 after buying an additional 37 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Netflix Stock Up 1.3%

Shares of Netflix stock opened at $1,199.36 on Monday. The company has a fifty day moving average price of $1,213.47 and a 200 day moving average price of $1,179.41. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.58. Netflix, Inc. has a twelve month low of $736.23 and a twelve month high of $1,341.15. The stock has a market cap of $509.64 billion, a price-to-earnings ratio of 51.10, a price-to-earnings-growth ratio of 2.02 and a beta of 1.59.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, July 17th. The Internet television network reported $7.19 earnings per share for the quarter, beating analysts’ consensus estimates of $7.07 by $0.12. The company had revenue of $11.08 billion during the quarter, compared to analysts’ expectations of $11.04 billion. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same period in the prior year, the company posted $4.88 EPS. Equities research analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on NFLX shares. Weiss Ratings restated a “buy (b)” rating on shares of Netflix in a report on Wednesday, October 8th. TD Cowen dropped their price objective on Netflix from $1,450.00 to $1,425.00 and set a “buy” rating for the company in a report on Tuesday, October 7th. UBS Group restated a “buy” rating and set a $1,495.00 price objective on shares of Netflix in a report on Thursday. Wedbush restated an “outperform” rating on shares of Netflix in a report on Wednesday. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $1,425.00 price target (up from $1,200.00) on shares of Netflix in a research report on Tuesday, July 15th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Netflix presently has a consensus rating of “Moderate Buy” and an average price target of $1,339.81.

Insider Buying and Selling

In other Netflix news, CFO Spencer Adam Neumann sold 2,601 shares of the company’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $1,162.40, for a total value of $3,023,402.40. Following the completion of the transaction, the chief financial officer directly owned 3,691 shares of the company’s stock, valued at $4,290,418.40. This represents a 41.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider David A. Hyman sold 424 shares of the company’s stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $1,158.67, for a total transaction of $491,276.08. Following the completion of the transaction, the insider directly owned 31,610 shares of the company’s stock, valued at approximately $36,625,558.70. The trade was a 1.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 104,100 shares of company stock worth $122,710,980 over the last quarter. Company insiders own 1.37% 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.