Netflix, Inc. $NFLX Shares Purchased by Empirical Asset Management LLC

by · The Markets Daily

Empirical Asset Management LLC lifted its stake in Netflix, Inc. (NASDAQ:NFLX – Free Report) by 7.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,368 shares of the Internet television network’s stock after purchasing an additional 94 shares during the quarter. Empirical Asset Management LLC’s holdings in Netflix were worth $1,832,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Consilio Wealth Advisors LLC increased its holdings in shares of Netflix by 3.6% in the second quarter. Consilio Wealth Advisors LLC now owns 541 shares of the Internet television network’s stock valued at $716,000 after purchasing an additional 19 shares during the last quarter. Werba Rubin Papier Wealth Management increased its holdings in shares of Netflix by 6.7% in the second quarter. Werba Rubin Papier Wealth Management now owns 735 shares of the Internet television network’s stock valued at $984,000 after purchasing an additional 46 shares during the last quarter. Horst & Graben Wealth Management LLC acquired a new stake in shares of Netflix in the second quarter valued at approximately $286,000. Aire Advisors LLC increased its holdings in shares of Netflix by 10.5% in the second quarter. Aire Advisors LLC now owns 833 shares of the Internet television network’s stock valued at $1,115,000 after purchasing an additional 79 shares during the last quarter. Finally, Creekside Partners acquired a new stake in shares of Netflix in the second quarter valued at approximately $216,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. TD Cowen cut their price target on Netflix from $1,450.00 to $1,425.00 and set a “buy” rating for the company in a report on Tuesday, October 7th. Barclays reissued a “sell” rating and set a $1,100.00 target price (up previously from $1,000.00) on shares of Netflix in a research note on Wednesday, July 9th. Robert W. Baird raised their target price on Netflix from $1,300.00 to $1,500.00 and gave the stock an “outperform” rating in a research note on Monday, July 21st. Morgan Stanley set a $1,500.00 target price on Netflix in a research note on Monday. Finally, Sanford C. Bernstein raised their target price on Netflix from $1,200.00 to $1,390.00 and gave the stock an “outperform” rating in a research note on Thursday, July 17th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Netflix presently has an average rating of “Moderate Buy” and a consensus price target of $1,339.81.

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Insider Buying and Selling at Netflix

In other news, Director Reed Hastings sold 42,176 shares of the firm’s stock in a transaction 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. This trade represents a 99.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Gregory K. Peters sold 2,026 shares of Netflix stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $1,157.44, for a total value of $2,344,973.44. Following the completion of the transaction, the chief executive officer owned 12,781 shares of the company’s stock, valued at approximately $14,793,240.64. This trade represents a 13.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 104,100 shares of company stock valued at $122,710,980. Corporate insiders own 1.37% of the company’s stock.

Netflix Trading Down 1.6%

NFLX opened at $1,183.59 on Friday. Netflix, Inc. has a 52 week low of $677.88 and a 52 week high of $1,341.15. The business has a fifty day simple moving average of $1,213.72 and a 200-day simple moving average of $1,174.05. The firm has a market cap of $502.94 billion, a P/E ratio of 50.43, a P/E/G ratio of 2.02 and a beta of 1.59. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.58.

Netflix (NASDAQ:NFLX – Get Free Report) last released 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. Netflix had a return on equity of 42.50% and a net margin of 24.58%.The business had revenue of $11.08 billion during the quarter, compared to analyst estimates of $11.04 billion. During the same period last year, the business posted $4.88 earnings per share. The company’s quarterly revenue was up 15.9% on a year-over-year basis. On average, equities analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current year.

Netflix Profile

(Free Report)

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.

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