Netflix, Inc. (NASDAQ:NFLX) Position Increased by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC grew its position in Netflix, Inc. (NASDAQ:NFLX) by 9.1% in the second quarter, HoldingsChannel reports. The institutional investor owned 57,999 shares of the Internet television network’s stock after purchasing an additional 4,841 shares during the period. Netflix makes up 2.8% of Frank Rimerman Advisors LLC’s holdings, making the stock its 9th biggest position. Frank Rimerman Advisors LLC’s holdings in Netflix were worth $39,142,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in NFLX. Obermeyer Wood Investment Counsel Lllp boosted its position in Netflix by 2.8% in the 1st quarter. Obermeyer Wood Investment Counsel Lllp now owns 623 shares of the Internet television network’s stock valued at $378,000 after buying an additional 17 shares during the last quarter. Private Portfolio Partners LLC boosted its holdings in Netflix by 1.7% in the first quarter. Private Portfolio Partners LLC now owns 1,042 shares of the Internet television network’s stock valued at $633,000 after purchasing an additional 17 shares during the last quarter. FAS Wealth Partners Inc. grew its stake in Netflix by 1.5% during the 2nd quarter. FAS Wealth Partners Inc. now owns 1,164 shares of the Internet television network’s stock valued at $786,000 after purchasing an additional 17 shares in the last quarter. Founders Financial Alliance LLC increased its holdings in Netflix by 2.4% during the 4th quarter. Founders Financial Alliance LLC now owns 757 shares of the Internet television network’s stock worth $369,000 after purchasing an additional 18 shares during the last quarter. Finally, Capital Advisors Ltd. LLC raised its position in shares of Netflix by 4.6% in the 1st quarter. Capital Advisors Ltd. LLC now owns 411 shares of the Internet television network’s stock valued at $250,000 after purchasing an additional 18 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Insiders Place Their Bets

In other news, Director Leslie J. Kilgore sold 428 shares of Netflix stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $715.00, for a total transaction of $306,020.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Netflix 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 directly owns 31,610 shares of the company’s stock, valued at approximately $19,128,159.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Leslie J. Kilgore sold 428 shares of the firm’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $715.00, for a total transaction of $306,020.00. The disclosure for this sale can be found here. Insiders sold 197,226 shares of company stock worth $129,858,692 over the last ninety days. Company insiders own 1.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NFLX. Evercore ISI raised their price target on shares of Netflix from $710.00 to $750.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 27th. Bank of America boosted their target price on shares of Netflix from $700.00 to $740.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. China Renaissance started coverage on shares of Netflix in a research report on Thursday, September 5th. They set a “hold” rating and a $680.00 price target on the stock. KeyCorp boosted their price objective on Netflix from $707.00 to $735.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and set a $635.00 target price on shares of Netflix in a report on Friday. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat, Netflix presently has a consensus rating of “Moderate Buy” and an average target price of $685.29.

Netflix Stock Performance

NFLX stock opened at $701.03 on Friday. The company has a 50-day simple moving average of $663.00 and a 200 day simple moving average of $640.85. The company has a market capitalization of $302.14 billion, a P/E ratio of 48.65, a PEG ratio of 1.40 and a beta of 1.26. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.55. Netflix, Inc. has a fifty-two week low of $344.73 and a fifty-two week high of $715.66.

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

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.