Strategic Planning Group LLC Grows Stake in Netflix, Inc. (NASDAQ:NFLX)

Strategic Planning Group LLC boosted its position in Netflix, Inc. (NASDAQ:NFLX) by 50.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,187 shares of the Internet television network’s stock after purchasing an additional 4,730 shares during the period. Netflix comprises 2.1% of Strategic Planning Group LLC’s investment portfolio, making the stock its 16th biggest position. Strategic Planning Group LLC’s holdings in Netflix were worth $8,617,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of NFLX. Norges Bank purchased a new position in Netflix in the 4th quarter valued at approximately $2,558,598,000. Wellington Management Group LLP grew its holdings in Netflix by 540.9% during the 4th quarter. Wellington Management Group LLP now owns 3,878,785 shares of the Internet television network’s stock valued at $1,888,503,000 after buying an additional 3,273,592 shares during the last quarter. International Assets Investment Management LLC grew its holdings in Netflix by 15,039.1% during the 4th quarter. International Assets Investment Management LLC now owns 2,075,569 shares of the Internet television network’s stock valued at $1,010,553,000 after buying an additional 2,061,859 shares during the last quarter. Jennison Associates LLC grew its holdings in Netflix by 40.6% during the 4th quarter. Jennison Associates LLC now owns 5,452,271 shares of the Internet television network’s stock valued at $2,654,602,000 after buying an additional 1,573,978 shares during the last quarter. Finally, Global Assets Advisory LLC acquired a new stake in Netflix during the 1st quarter valued at $436,514,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Price Performance

Shares of NASDAQ:NFLX opened at $671.41 on Tuesday. Netflix, Inc. has a 12 month low of $344.73 and a 12 month high of $689.88. The stock has a market cap of $289.38 billion, a price-to-earnings ratio of 46.43, a PEG ratio of 1.48 and a beta of 1.26. The stock’s 50 day moving average price is $622.68 and its 200 day moving average price is $579.07. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 1.07.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, April 18th. The Internet television network reported $5.28 EPS for the quarter, topping the consensus estimate of $4.51 by $0.77. The firm had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $9.28 billion. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The firm’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.88 earnings per share. Equities research analysts anticipate that Netflix, Inc. will post 18.31 earnings per share for the current fiscal year.

Insider Buying and Selling at Netflix

In other Netflix news, CEO Gregory K. Peters sold 4,783 shares of the company’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $675.00, for a total value of $3,228,525.00. Following the transaction, the chief executive officer now owns 13,090 shares of the company’s stock, valued at $8,835,750. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Netflix news, CEO Gregory K. Peters sold 4,783 shares of the business’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $675.00, for a total transaction of $3,228,525.00. Following the sale, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at approximately $8,835,750. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Anne M. Sweeney sold 633 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $560.00, for a total transaction of $354,480.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 69,425 shares of company stock valued at $41,919,791. Corporate insiders own 1.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Sanford C. Bernstein increased their target price on Netflix from $490.00 to $600.00 and gave the company a “market perform” rating in a report on Friday, April 19th. Morgan Stanley increased their target price on Netflix from $600.00 to $700.00 and gave the company an “overweight” rating in a report on Friday, April 12th. Rosenblatt Securities increased their target price on Netflix from $540.00 to $554.00 and gave the company a “neutral” rating in a report on Friday, May 17th. Deutsche Bank Aktiengesellschaft raised their price objective on Netflix from $525.00 to $550.00 and gave the stock a “hold” rating in a report on Monday, April 15th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $700.00 target price on shares of Netflix in a report on Monday, June 17th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $633.53.

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.