Empirical Asset Management LLC Increases Stock Holdings in Netflix, Inc. $NFLX

Empirical Asset Management LLC lifted its stake in Netflix, Inc. (NASDAQ:NFLX) by 7.4% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,368 shares of the Internet television network’s stock after purchasing an additional 94 shares during the quarter. Empirical Asset Management LLC’s holdings in Netflix were worth $1,832,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Optima Capital LLC increased its holdings in shares of Netflix by 3.5% in the second quarter. Optima Capital LLC now owns 239 shares of the Internet television network’s stock valued at $320,000 after purchasing an additional 8 shares during the period. Unified Investment Management boosted its stake in shares of Netflix by 1.7% in the second quarter. Unified Investment Management now owns 474 shares of the Internet television network’s stock worth $635,000 after buying an additional 8 shares during the last quarter. Plancorp LLC boosted its stake in shares of Netflix by 0.6% in the second quarter. Plancorp LLC now owns 1,278 shares of the Internet television network’s stock worth $1,711,000 after buying an additional 8 shares during the last quarter. Five Oceans Advisors boosted its stake in shares of Netflix by 1.1% in the second quarter. Five Oceans Advisors now owns 751 shares of the Internet television network’s stock worth $1,006,000 after buying an additional 8 shares during the last quarter. Finally, Old Port Advisors boosted its stake in shares of Netflix by 1.3% in the second quarter. Old Port Advisors now owns 624 shares of the Internet television network’s stock worth $836,000 after buying an additional 8 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Insider Buying and Selling at Netflix

In other Netflix news, Director Reed Hastings sold 42,176 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $1,171.92, for a total transaction of $49,426,897.92. Following the completion of the transaction, the director owned 394 shares of the company’s stock, valued at $461,736.48. This represents a 99.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Theodore A. Sarandos sold 2,026 shares of the stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $1,160.62, for a total value of $2,351,416.12. Following the transaction, the chief executive officer directly owned 15,168 shares of the company’s stock, valued at $17,604,284.16. The trade was a 11.78% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 104,100 shares of company stock valued at $122,710,980. 1.37% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on NFLX. Cowen restated a “buy” rating on shares of Netflix in a research note on Tuesday, October 7th. Barclays restated a “sell” rating and issued a $1,100.00 target price (up previously from $1,000.00) on shares of Netflix in a research note on Wednesday, July 9th. Morgan Stanley set a $1,500.00 target price on Netflix in a research note on Monday. Weiss Ratings restated a “buy (b)” rating on shares of Netflix in a research note on Wednesday, October 8th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $1,500.00 price target on shares of Netflix in a research report on Wednesday, September 10th. Two analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Netflix has an average rating of “Moderate Buy” and a consensus target price of $1,339.81.

Netflix Stock Performance

Shares of NFLX stock opened at $1,183.59 on Friday. The company has a market capitalization of $502.94 billion, a P/E ratio of 50.43, a P/E/G ratio of 2.02 and a beta of 1.59. The business’s 50 day moving average is $1,213.72 and its two-hundred day moving average is $1,174.05. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.58. Netflix, Inc. has a 12-month low of $677.88 and a 12-month high of $1,341.15.

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