307 Shares in Netflix, Inc. (NASDAQ:NFLX) Bought by Balanced Wealth Group LLC

Balanced Wealth Group LLC bought a new stake in shares of Netflix, Inc. (NASDAQ:NFLX) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 307 shares of the Internet television network’s stock, valued at approximately $207,000.

A number of other institutional investors and hedge funds also recently modified their holdings of NFLX. Precision Wealth Strategies LLC increased its position in Netflix by 3.5% in the fourth quarter. Precision Wealth Strategies LLC now owns 2,444 shares of the Internet television network’s stock worth $1,190,000 after buying an additional 83 shares during the period. Gilbert & Cook Inc. boosted its stake in Netflix by 5.9% during the 4th quarter. Gilbert & Cook Inc. now owns 2,177 shares of the Internet television network’s stock valued at $1,060,000 after purchasing an additional 121 shares during the period. Aveo Capital Partners LLC grew its position in Netflix by 6.9% in the 4th quarter. Aveo Capital Partners LLC now owns 667 shares of the Internet television network’s stock worth $325,000 after purchasing an additional 43 shares during the last quarter. Gryphon Financial Partners LLC increased its stake in shares of Netflix by 20.4% in the fourth quarter. Gryphon Financial Partners LLC now owns 3,971 shares of the Internet television network’s stock valued at $1,933,000 after purchasing an additional 674 shares during the period. Finally, Quest Partners LLC bought a new stake in shares of Netflix during the fourth quarter valued at approximately $370,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Trading Down 0.5 %

Shares of NASDAQ:NFLX opened at $701.03 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $302.14 billion, a PE ratio of 48.65, a P/E/G ratio of 1.40 and a beta of 1.26. Netflix, Inc. has a 1 year low of $344.73 and a 1 year high of $715.66. The firm has a fifty day moving average price of $663.00 and a 200 day moving average price of $640.55.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.74 by $0.14. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The company had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $9.53 billion. During the same quarter in the prior year, the company posted $3.29 EPS. The firm’s revenue was up 16.8% on a year-over-year basis. Analysts expect that Netflix, Inc. will post 19.08 EPS for the current fiscal year.

Insider Buying and Selling at Netflix

In other news, Chairman Reed Hastings sold 22,526 shares of the business’s stock in a transaction on Monday, July 1st. The shares were 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Chairman Reed Hastings sold 22,526 shares of Netflix stock in a transaction dated 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 transaction, the chairman now directly owns 57 shares in the company, valued at $38,217.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David A. Hyman sold 20,656 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total value of $12,499,565.28. Following the sale, the insider now owns 31,610 shares of the company’s stock, valued at approximately $19,128,159.30. The disclosure for this sale can be found here. Insiders have sold a total of 197,226 shares of company stock worth $129,858,692 over the last 90 days. Insiders own 1.76% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on NFLX. Citigroup lifted their target price on Netflix from $660.00 to $675.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Morgan Stanley increased their target price on shares of Netflix from $700.00 to $780.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. JPMorgan Chase & Co. boosted their price target on shares of Netflix from $650.00 to $750.00 and gave the stock an “overweight” rating in a research report on Friday, July 12th. Rosenblatt Securities reiterated a “neutral” rating and set a $635.00 price objective on shares of Netflix in a research note on Friday. Finally, Argus upped their target price on Netflix from $660.00 to $767.00 and gave the stock a “buy” rating in a research report on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat.com, Netflix presently has a consensus rating of “Moderate Buy” and a consensus target price of $685.29.

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.