Harmony Asset Management LLC Makes New $321,000 Investment in Netflix, Inc. (NASDAQ:NFLX)

Harmony Asset Management LLC bought a new position in shares of Netflix, Inc. (NASDAQ:NFLX) during the 2nd quarter, HoldingsChannel reports. The firm bought 475 shares of the Internet television network’s stock, valued at approximately $321,000.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings 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 lifted its stake 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 worth $5,718,265,000 after purchasing an additional 78,320 shares during the last quarter. Jennison Associates LLC boosted its position in Netflix by 17.0% during 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 in the last quarter. Baillie Gifford & Co. boosted its position in Netflix by 2.3% during the second quarter. Baillie Gifford & Co. now owns 4,762,069 shares of the Internet television network’s stock valued at $3,213,825,000 after purchasing an additional 106,756 shares in the last quarter. Finally, Fisher Asset Management LLC grew 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 during the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on NFLX shares. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $635.00 price objective on shares of Netflix in a research report on Friday. Loop Capital upped their price target on Netflix from $700.00 to $750.00 and gave the stock a “buy” rating in a research report on Tuesday, June 18th. Morgan Stanley boosted their target price on Netflix from $700.00 to $780.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Needham & Company LLC restated a “buy” rating and set a $700.00 price target on shares of Netflix in a research note on Friday, July 19th. Finally, Pivotal Research increased their price objective on shares of Netflix from $800.00 to $900.00 and gave the company a “buy” rating in a research report on Friday, August 30th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $685.29.

Netflix Price Performance

Shares of Netflix stock opened at $701.03 on Monday. The firm has a market cap of $302.14 billion, a PE ratio of 48.65, a P/E/G ratio of 1.40 and a beta of 1.26. The business has a 50-day moving average price of $663.00 and a 200 day moving average price of $641.15. 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 twelve month low of $344.73 and a twelve month high of $715.66.

Netflix (NASDAQ:NFLX) last announced its earnings results 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 firm 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 business’s revenue was up 16.8% on a year-over-year basis. During the same quarter last year, the firm posted $3.29 EPS. Sell-side analysts predict that Netflix, Inc. will post 19.08 earnings per share for the current fiscal year.

Insider Transactions at Netflix

In related news, 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 value of $306,020.00. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Jay C. Hoag sold 43,750 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were 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 owns 95,040 shares of the company’s stock, valued at $65,299,132.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Leslie J. Kilgore sold 428 shares of the 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 valued at $129,858,692 over the last 90 days. Corporate insiders own 1.76% of the company’s stock.

Netflix Company 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.