Silver Lake Advisory LLC Invests $1.03 Million in Netflix, Inc. (NASDAQ:NFLX)

Silver Lake Advisory LLC acquired a new position in shares of Netflix, Inc. (NASDAQ:NFLX) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,519 shares of the Internet television network’s stock, valued at approximately $1,025,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of NFLX. Wellington Management Group LLP raised 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 acquiring an additional 3,273,592 shares during the period. GQG Partners LLC acquired a new stake in Netflix in the 1st quarter valued at approximately $1,450,476,000. Jennison Associates LLC raised its position in Netflix by 17.0% in the first quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock valued at $3,875,655,000 after purchasing an additional 929,193 shares during the period. Global Assets Advisory LLC acquired a new position in Netflix during the first quarter worth $436,514,000. Finally, Jericho Capital Asset Management L.P. purchased a new position in shares of Netflix during the first quarter worth $372,293,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Netflix Stock Performance

Shares of Netflix stock opened at $707.35 on Friday. The firm’s fifty day simple moving average is $669.62 and its 200-day simple moving average is $644.66. Netflix, Inc. has a 12 month low of $344.73 and a 12 month high of $725.26. 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. 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 (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $9.53 billion. During the same period in the previous year, the business posted $3.29 earnings per share. Netflix’s quarterly revenue was up 16.8% on a year-over-year basis. As a group, equities analysts forecast that Netflix, Inc. will post 19.08 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Piper Sandler increased their target price on Netflix from $600.00 to $650.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th. Macquarie reissued an “outperform” rating and set a $685.00 price target on shares of Netflix in a research report on Tuesday, July 16th. Citigroup lifted their price objective on shares of Netflix from $660.00 to $675.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. KeyCorp increased their target price on shares of Netflix from $707.00 to $735.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Netflix from $650.00 to $750.00 and gave the stock an “overweight” rating in a research note on Friday, July 12th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $685.29.

Insider Buying and Selling at Netflix

In other Netflix news, Director Jay C. Hoag sold 43,750 shares of Netflix stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $687.07, for a total value of $30,059,312.50. Following the transaction, the director now directly owns 95,040 shares in the company, valued at approximately $65,299,132.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Jay C. Hoag sold 43,750 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $687.07, for a total transaction of $30,059,312.50. Following the completion of the sale, the director now directly owns 95,040 shares of the company’s stock, valued at $65,299,132.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider David A. Hyman sold 20,656 shares of Netflix stock in a transaction on Tuesday, August 6th. The shares were 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 owns 31,610 shares in the company, valued at $19,128,159.30. The disclosure for this sale can be found here. Insiders sold a total of 202,020 shares of company stock valued at $133,334,342 in the last ninety days. 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.