New York Life Investment Management LLC Acquires 53 Shares of Netflix, Inc. (NASDAQ:NFLX)

New York Life Investment Management LLC lifted its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 0.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 59,377 shares of the Internet television network’s stock after buying an additional 53 shares during the quarter. New York Life Investment Management LLC’s holdings in Netflix were worth $40,072,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Fluent Financial LLC lifted its stake in shares of Netflix by 21.8% in the second quarter. Fluent Financial LLC now owns 558 shares of the Internet television network’s stock valued at $377,000 after buying an additional 100 shares in the last quarter. Addison Advisors LLC raised its holdings in shares of Netflix by 6.4% in the 2nd quarter. Addison Advisors LLC now owns 333 shares of the Internet television network’s stock worth $225,000 after acquiring an additional 20 shares during the last quarter. Wellington Shields Capital Management LLC bought a new position in Netflix in the 2nd quarter valued at about $182,000. Victory Capital Management Inc. increased its holdings in Netflix by 4.1% during the 2nd quarter. Victory Capital Management Inc. now owns 514,213 shares of the Internet television network’s stock worth $347,032,000 after purchasing an additional 20,042 shares in the last quarter. Finally, Denver PWM LLC bought a new stake in Netflix during the 2nd quarter worth approximately $25,000. Institutional investors own 80.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on NFLX shares. Jefferies Financial Group raised their target price on Netflix from $655.00 to $780.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Oppenheimer reissued an “outperform” rating and set a $725.00 price target on shares of Netflix in a research report on Tuesday, July 30th. The Goldman Sachs Group boosted their price target on shares of Netflix from $650.00 to $659.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. Rosenblatt Securities increased their price objective on shares of Netflix from $554.00 to $635.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Finally, Macquarie reissued an “outperform” rating and set a $685.00 target price on shares of Netflix in a research report on Tuesday, July 16th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat, Netflix has an average rating of “Moderate Buy” and a consensus target price of $685.29.

Netflix Trading Down 2.6 %

Shares of NFLX stock opened at $665.77 on Friday. Netflix, Inc. has a 1 year low of $344.73 and a 1 year high of $711.33. The company’s fifty day simple moving average is $659.89 and its two-hundred day simple moving average is $633.82. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market capitalization of $286.95 billion, a price-to-earnings ratio of 46.20, a PEG ratio of 1.44 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.74 by $0.14. The company had revenue of $9.56 billion for the quarter, compared to analyst estimates of $9.53 billion. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The firm’s revenue for the quarter was up 16.8% compared to the same quarter last year. During the same period in the previous year, the company posted $3.29 EPS. As a group, analysts anticipate that Netflix, Inc. will post 19.08 earnings per share for the current year.

Insider Activity

In other news, insider David A. Hyman sold 20,656 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 31,610 shares in the company, valued at $19,128,159.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Spencer Adam Neumann sold 433 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $626.19, for a total value of $271,140.27. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider David A. Hyman sold 20,656 shares of the 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 sale, the insider now owns 31,610 shares in the company, valued at approximately $19,128,159.30. The disclosure for this sale can be found here. Insiders have sold a total of 157,831 shares of company stock worth $102,721,884 over the last ninety days. Company 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.