Pacer Advisors Inc. Buys 9,700 Shares of Netflix, Inc. (NASDAQ:NFLX)

Pacer Advisors Inc. boosted its stake in Netflix, Inc. (NASDAQ:NFLX) by 17.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 64,556 shares of the Internet television network’s stock after purchasing an additional 9,700 shares during the period. Pacer Advisors Inc.’s holdings in Netflix were worth $43,568,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. M&G Plc bought a new stake in shares of Netflix in the first quarter worth $9,682,000. BSN CAPITAL PARTNERS Ltd boosted its position in Netflix by 24.4% in the first quarter. BSN CAPITAL PARTNERS Ltd now owns 250,000 shares of the Internet television network’s stock worth $155,185,000 after purchasing an additional 49,000 shares during the last quarter. Scarborough Advisors LLC bought a new stake in shares of Netflix during the 4th quarter valued at about $9,513,000. Scotia Capital Inc. grew its stake in shares of Netflix by 9.1% during the 4th quarter. Scotia Capital Inc. now owns 25,351 shares of the Internet television network’s stock valued at $12,343,000 after purchasing an additional 2,110 shares during the period. Finally, Focus Financial Network Inc. ADV purchased a new stake in shares of Netflix during the 4th quarter valued at about $3,700,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Netflix Trading Down 0.5 %

Shares of NFLX opened at $701.03 on Friday. 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. The company’s fifty day moving average is $663.00 and its 200 day moving average is $640.85. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95. Netflix, Inc. has a fifty-two week low of $344.73 and a fifty-two week high of $715.66.

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

Insiders Place Their Bets

In other news, Director Leslie J. Kilgore sold 428 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $715.00, for a total value of $306,020.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Gregory K. Peters sold 1,278 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $614.44, for a total value of $785,254.32. Following the sale, the chief executive officer now owns 13,090 shares of the company’s stock, valued at $8,043,019.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Leslie J. Kilgore sold 428 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was 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 have sold 197,226 shares of company stock valued at $129,858,692 over the last ninety days. 1.76% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. StockNews.com upgraded shares of Netflix from a “hold” rating to a “buy” rating in a research report on Sunday, September 15th. KeyCorp boosted their price objective on shares of Netflix from $707.00 to $735.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. The Goldman Sachs Group raised their target price on Netflix from $650.00 to $659.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. Sanford C. Bernstein boosted their price target on Netflix from $600.00 to $625.00 and gave the company a “market perform” rating in a report on Friday, July 19th. Finally, Redburn Atlantic raised their price objective on Netflix from $740.00 to $760.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target 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.