Circle Wealth Management LLC Purchases 1,516 Shares of Netflix, Inc. (NASDAQ:NFLX)

Circle Wealth Management LLC raised its position in Netflix, Inc. (NASDAQ:NFLX) by 37.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,618 shares of the Internet television network’s stock after purchasing an additional 1,516 shares during the period. Circle Wealth Management LLC’s holdings in Netflix were worth $3,791,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Netflix by 0.4% during the first quarter. Vanguard Group Inc. now owns 36,587,911 shares of the Internet television network’s stock valued at $22,220,936,000 after buying an additional 149,341 shares during the period. Capital World Investors boosted its position in shares of Netflix by 0.7% during the 4th quarter. Capital World Investors now owns 11,744,636 shares of the Internet television network’s stock valued at $5,718,265,000 after acquiring an additional 78,320 shares during the last quarter. Jennison Associates LLC grew its holdings in shares of Netflix by 17.0% during the first quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock worth $3,875,655,000 after purchasing an additional 929,193 shares in the last quarter. Baillie Gifford & Co. increased its position in shares of Netflix by 2.3% in the second quarter. Baillie Gifford & Co. now owns 4,762,069 shares of the Internet television network’s stock worth $3,213,825,000 after purchasing an additional 106,756 shares during the last quarter. Finally, Fisher Asset Management LLC raised its stake in Netflix by 1.8% in the fourth quarter. Fisher Asset Management LLC now owns 4,115,613 shares of the Internet television network’s stock valued at $2,003,810,000 after purchasing an additional 72,807 shares in the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Netflix Stock Down 0.5 %

NFLX stock opened at $701.03 on Friday. Netflix, Inc. has a fifty-two week low of $344.73 and a fifty-two week high of $715.66. The company has a market capitalization of $302.14 billion, a price-to-earnings ratio of 48.65, a price-to-earnings-growth ratio of 1.40 and a beta of 1.26. The business’s 50 day moving average price is $663.00 and its two-hundred day moving average price is $640.85. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, topping the consensus estimate of $4.74 by $0.14. The company had revenue of $9.56 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the prior year, the firm earned $3.29 earnings per share. As a group, analysts forecast that Netflix, Inc. will post 19.08 earnings per share for the current fiscal year.

Analysts Set New Price Targets

NFLX has been the topic of a number of research analyst reports. Macquarie reissued an “outperform” rating and issued a $685.00 price target on shares of Netflix in a report on Tuesday, July 16th. Pivotal Research raised their price target on Netflix from $800.00 to $900.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Morgan Stanley upped their price objective on Netflix from $700.00 to $780.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. China Renaissance started coverage on Netflix in a report on Thursday, September 5th. They set a “hold” rating and a $680.00 price objective on the stock. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and issued a $635.00 target price on shares of Netflix in a research note on Friday. One 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 company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $685.29.

Insider Buying and Selling

In related news, Chairman Reed Hastings sold 22,526 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $670.49, for a total transaction of $15,103,457.74. Following the sale, the chairman now owns 57 shares of the company’s stock, valued at $38,217.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider David A. Hyman sold 20,656 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was 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 of the company’s stock, valued at approximately $19,128,159.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Reed Hastings sold 22,526 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $670.49, for a total value of $15,103,457.74. Following the completion of the sale, the chairman now directly owns 57 shares in the company, valued at $38,217.93. The disclosure for this sale can be found here. Insiders sold a total of 197,226 shares of company stock worth $129,858,692 in the last three months. 1.76% of the stock is owned by corporate insiders.

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.