Netflix, Inc. $NFLX Shares Acquired by Balboa Wealth Partners

Balboa Wealth Partners increased its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 111.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,801 shares of the Internet television network’s stock after buying an additional 1,477 shares during the quarter. Netflix comprises about 0.8% of Balboa Wealth Partners’ holdings, making the stock its 25th largest position. Balboa Wealth Partners’ holdings in Netflix were worth $3,751,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NFLX. Stephens Consulting LLC grew its holdings in shares of Netflix by 150.0% during the second quarter. Stephens Consulting LLC now owns 25 shares of the Internet television network’s stock worth $33,000 after buying an additional 15 shares during the last quarter. Flaharty Asset Management LLC purchased a new position in shares of Netflix during the first quarter worth about $37,000. Maseco LLP purchased a new position in shares of Netflix during the second quarter worth about $39,000. Barnes Dennig Private Wealth Management LLC purchased a new position in shares of Netflix during the first quarter worth about $42,000. Finally, 1248 Management LLC purchased a new stake in Netflix in the 1st quarter valued at approximately $43,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Price Performance

Shares of NASDAQ:NFLX opened at $1,199.36 on Monday. The business’s 50 day simple moving average is $1,213.47 and its 200-day simple moving average is $1,179.41. The firm has a market capitalization of $509.64 billion, a price-to-earnings ratio of 51.10, a price-to-earnings-growth ratio of 2.02 and a beta of 1.59. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.34 and a quick ratio of 1.34. Netflix, Inc. has a 12 month low of $736.23 and a 12 month high of $1,341.15.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, topping the consensus estimate of $7.07 by $0.12. The business had revenue of $11.08 billion for the quarter, compared to analyst estimates of $11.04 billion. Netflix had a return on equity of 42.50% and a net margin of 24.58%.The company’s quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.88 EPS. As a group, equities analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Reed Hastings sold 42,176 shares of Netflix stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $1,171.92, for a total transaction of $49,426,897.92. Following the completion of the transaction, the director directly owned 394 shares in the company, valued at $461,736.48. The trade was a 99.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Spencer Adam Neumann sold 2,601 shares of Netflix stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $1,162.40, for a total value of $3,023,402.40. Following the transaction, the chief financial officer owned 3,691 shares of the company’s stock, valued at $4,290,418.40. This represents a 41.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 104,100 shares of company stock worth $122,710,980. 1.37% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Wedbush reaffirmed an “outperform” rating on shares of Netflix in a report on Wednesday. TD Cowen lowered their price objective on Netflix from $1,450.00 to $1,425.00 and set a “buy” rating on the stock in a report on Tuesday, October 7th. Canaccord Genuity Group reaffirmed a “buy” rating on shares of Netflix in a report on Thursday, July 10th. Seaport Res Ptn raised Netflix from a “hold” rating to a “strong-buy” rating in a report on Monday, October 6th. Finally, JPMorgan Chase & Co. lifted their price objective on Netflix from $1,230.00 to $1,300.00 and gave the company a “neutral” rating in a report on Friday, July 18th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,339.81.

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.