Lyell Wealth Management LP Buys 443 Shares of Netflix, Inc. $NFLX

Lyell Wealth Management LP grew its stake in Netflix, Inc. (NASDAQ:NFLX) by 2.8% during the 2nd quarter, HoldingsChannel reports. The firm owned 16,196 shares of the Internet television network’s stock after acquiring an additional 443 shares during the quarter. Netflix makes up approximately 1.7% of Lyell Wealth Management LP’s holdings, making the stock its 13th biggest holding. Lyell Wealth Management LP’s holdings in Netflix were worth $21,689,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of NFLX. Nuveen LLC bought a new stake in Netflix during the 1st quarter worth approximately $2,385,585,000. Kingstone Capital Partners Texas LLC grew its position in Netflix by 343,058.2% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 2,463,876 shares of the Internet television network’s stock worth $3,299,450,000 after acquiring an additional 2,463,158 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Netflix by 57.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,393,064 shares of the Internet television network’s stock worth $3,164,134,000 after acquiring an additional 1,236,251 shares during the last quarter. Amundi grew its position in Netflix by 37.7% during the 1st quarter. Amundi now owns 2,070,221 shares of the Internet television network’s stock worth $1,898,496,000 after acquiring an additional 567,251 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in Netflix by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 37,997,260 shares of the Internet television network’s stock worth $35,433,585,000 after acquiring an additional 509,255 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. TD Cowen decreased their price target on Netflix from $1,450.00 to $1,425.00 and set a “buy” rating on the stock in a research report on Tuesday, October 7th. Zacks Research downgraded Netflix from a “strong-buy” rating to a “hold” rating in a report on Monday, September 1st. The Goldman Sachs Group reduced their price objective on Netflix from $1,310.00 to $1,300.00 and set a “neutral” rating on the stock in a report on Tuesday, September 30th. Seaport Res Ptn raised Netflix from a “hold” rating to a “strong-buy” rating in a report on Monday, October 6th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $1,500.00 price objective on shares of Netflix in a report on Wednesday, September 10th. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,339.81.

Insiders Place Their Bets

In other news, CFO Spencer Adam Neumann sold 2,601 shares of the firm’s stock in a transaction on Friday, August 1st. The stock was sold at an average price of $1,162.40, for a total value of $3,023,402.40. Following the transaction, the chief financial officer directly owned 3,691 shares in the company, valued at $4,290,418.40. This trade represents a 41.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Reed Hastings sold 42,176 shares of the firm’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $1,171.92, for a total value of $49,426,897.92. Following the completion of the transaction, the director owned 394 shares in the company, valued at $461,736.48. This represents a 99.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 104,100 shares of company stock worth $122,710,980 over the last three months. Insiders own 1.37% of the company’s stock.

Netflix Stock Up 1.3%

NASDAQ:NFLX opened at $1,199.36 on Monday. Netflix, Inc. has a 12-month low of $736.23 and a 12-month high of $1,341.15. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $509.64 billion, a P/E ratio of 51.10, a P/E/G ratio of 2.02 and a beta of 1.59. The stock’s fifty day simple moving average is $1,213.47 and its 200-day simple moving average is $1,179.41.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.07 by $0.12. Netflix had a return on equity of 42.50% and a net margin of 24.58%.The business had revenue of $11.08 billion for the quarter, compared to analyst estimates of $11.04 billion. During the same period last year, the company earned $4.88 EPS. The firm’s revenue was up 15.9% on a year-over-year basis. Equities research analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current year.

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.