Netflix, Inc. (NASDAQ:NFLX) Shares Bought by Shellback Capital LP

Shellback Capital LP increased its stake in Netflix, Inc. (NASDAQ:NFLX) by 33.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,000 shares of the Internet television network’s stock after buying an additional 7,500 shares during the period. Netflix comprises about 1.5% of Shellback Capital LP’s investment portfolio, making the stock its 24th largest position. Shellback Capital LP’s holdings in Netflix were worth $20,246,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in NFLX. Precision Wealth Strategies LLC lifted its holdings in Netflix by 3.5% during the 4th 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 last quarter. Gilbert & Cook Inc. lifted its position in shares of Netflix by 5.9% in the 4th quarter. Gilbert & Cook Inc. now owns 2,177 shares of the Internet television network’s stock worth $1,060,000 after buying an additional 121 shares during the last quarter. Aveo Capital Partners LLC boosted its holdings in shares of Netflix by 6.9% in the 4th quarter. Aveo Capital Partners LLC now owns 667 shares of the Internet television network’s stock valued at $325,000 after buying an additional 43 shares during the period. Gryphon Financial Partners LLC grew its position in shares of Netflix by 20.4% during the 4th quarter. Gryphon Financial Partners LLC now owns 3,971 shares of the Internet television network’s stock valued at $1,933,000 after buying an additional 674 shares during the last quarter. Finally, Fiduciary Trust Co raised its stake in Netflix by 10.4% during the fourth quarter. Fiduciary Trust Co now owns 2,534 shares of the Internet television network’s stock worth $1,234,000 after acquiring an additional 239 shares during the period. 80.93% of the stock is currently owned by institutional investors.

Netflix Price Performance

Shares of NASDAQ:NFLX opened at $711.43 on Friday. The company has a market capitalization of $306.63 billion, a PE ratio of 49.37, a price-to-earnings-growth ratio of 1.44 and a beta of 1.26. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a fifty day moving average of $668.14 and a 200-day moving average of $643.69. Netflix, Inc. has a one year low of $344.73 and a one year high of $725.26.

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

Insiders Place Their Bets

In other news, insider David A. Hyman sold 20,656 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the sale, the insider now owns 31,610 shares in the company, valued at $19,128,159.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Chairman Reed Hastings sold 22,526 shares of the firm’s stock in a transaction on 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 completion of the sale, the chairman now owns 57 shares of the company’s stock, valued at $38,217.93. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider David A. Hyman sold 20,656 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 31,610 shares in the company, valued at $19,128,159.30. The disclosure for this sale can be found here. Insiders sold a total of 202,020 shares of company stock worth $133,334,342 over the last ninety days. 1.76% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on NFLX. Bank of America lifted their target price on Netflix from $700.00 to $740.00 and gave the company a “buy” rating in a research note on Monday, July 15th. StockNews.com upgraded Netflix from a “hold” rating to a “buy” rating in a research note on Tuesday. Benchmark increased their target price on Netflix from $450.00 to $545.00 and gave the stock a “sell” rating in a research report on Tuesday, July 16th. The Goldman Sachs Group upped their price target on shares of Netflix from $650.00 to $659.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Finally, Loop Capital lifted their price objective on shares of Netflix from $700.00 to $750.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. One 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 stock. According to data from MarketBeat, Netflix currently has an average rating of “Moderate Buy” and a consensus target price of $685.29.

Netflix Company 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.