Netflix, Inc. (NASDAQ:NFLX) Shares Bought by Meridian Wealth Partners LLC

Meridian Wealth Partners LLC lifted its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 6.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 356 shares of the Internet television network’s stock after purchasing an additional 23 shares during the period. Meridian Wealth Partners LLC’s holdings in Netflix were worth $240,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. E Fund Management Co. Ltd. grew its holdings in Netflix by 3.9% in the 2nd quarter. E Fund Management Co. Ltd. now owns 6,378 shares of the Internet television network’s stock valued at $4,304,000 after buying an additional 239 shares in the last quarter. Bradley Foster & Sargent Inc. CT boosted its position in shares of Netflix by 55.1% during the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 1,556 shares of the Internet television network’s stock valued at $1,050,000 after acquiring an additional 553 shares during the last quarter. Axxcess Wealth Management LLC grew its holdings in shares of Netflix by 11.6% in the second quarter. Axxcess Wealth Management LLC now owns 25,700 shares of the Internet television network’s stock valued at $17,344,000 after purchasing an additional 2,681 shares during the period. Fairway Wealth LLC increased its position in Netflix by 23.3% during the second quarter. Fairway Wealth LLC now owns 249 shares of the Internet television network’s stock worth $168,000 after purchasing an additional 47 shares during the last quarter. Finally, Abbot Financial Management Inc. raised its stake in Netflix by 13.9% during the second quarter. Abbot Financial Management Inc. now owns 1,141 shares of the Internet television network’s stock worth $770,000 after purchasing an additional 139 shares during the period. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. TD Cowen increased their price target on shares of Netflix from $725.00 to $775.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. 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 research note on Friday, July 19th. Pivotal Research lifted their target price on Netflix from $800.00 to $900.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Bank of America increased their price target on Netflix from $700.00 to $740.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Finally, Argus boosted their price objective on shares of Netflix from $660.00 to $767.00 and gave the company a “buy” rating in a report on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat.com, Netflix has a consensus rating of “Moderate Buy” and an average price target of $685.29.

Insider Activity

In related news, insider David A. Hyman sold 20,656 shares of Netflix stock in a transaction 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 directly owns 31,610 shares in the company, valued at approximately $19,128,159.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Netflix news, 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 completion of the transaction, the insider now owns 31,610 shares in the company, valued at $19,128,159.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David A. Hyman sold 13,791 shares of Netflix stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $700.00, for a total value of $9,653,700.00. Following the sale, the insider now owns 31,610 shares in the company, valued at approximately $22,127,000. The disclosure for this sale can be found here. In the last quarter, insiders sold 196,798 shares of company stock worth $129,552,672. Corporate insiders own 1.76% of the company’s stock.

Netflix Stock Up 1.5 %

Netflix stock opened at $706.91 on Wednesday. The stock has a market cap of $304.68 billion, a PE ratio of 49.06, a P/E/G ratio of 1.40 and a beta of 1.26. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95. The stock’s fifty day moving average is $660.64 and its two-hundred day moving average is $639.15. Netflix, Inc. has a 1-year low of $344.73 and a 1-year high of $711.33.

Netflix (NASDAQ:NFLX) last issued its earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, topping the consensus estimate of $4.74 by $0.14. The business had revenue of $9.56 billion for 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%. The business’s quarterly revenue was up 16.8% on a year-over-year basis. During the same quarter last year, the company earned $3.29 EPS. On average, sell-side analysts expect that Netflix, Inc. will post 19.08 EPS for the current fiscal year.

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.