LGT Fund Management Co Ltd. Buys 2,268 Shares of Netflix, Inc. (NASDAQ:NFLX)

LGT Fund Management Co Ltd. boosted its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 39.3% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,034 shares of the Internet television network’s stock after buying an additional 2,268 shares during the quarter. LGT Fund Management Co Ltd.’s holdings in Netflix were worth $5,422,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of NFLX. Precision Wealth Strategies LLC raised its holdings in Netflix by 3.5% in the 4th quarter. Precision Wealth Strategies LLC now owns 2,444 shares of the Internet television network’s stock worth $1,190,000 after purchasing an additional 83 shares in the last quarter. Gilbert & Cook Inc. raised its stake in Netflix by 5.9% in the fourth 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 in the last quarter. Aveo Capital Partners LLC lifted its holdings in Netflix by 6.9% in the fourth quarter. Aveo Capital Partners LLC now owns 667 shares of the Internet television network’s stock worth $325,000 after buying an additional 43 shares during the period. Gryphon Financial Partners LLC boosted its position in 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 acquiring an additional 674 shares in the last quarter. Finally, Johnson Investment Counsel Inc. grew its holdings in shares of Netflix by 9.4% during the 4th quarter. Johnson Investment Counsel Inc. now owns 3,160 shares of the Internet television network’s stock worth $1,539,000 after acquiring an additional 271 shares during the period. 80.93% of the stock is owned by institutional investors.

Netflix Price Performance

NASDAQ NFLX opened at $675.42 on Tuesday. The business’s fifty day moving average is $659.93 and its 200 day moving average is $635.27. Netflix, Inc. has a fifty-two week low of $344.73 and a fifty-two week high of $711.33. 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 company has a market capitalization of $289.87 billion, a PE ratio of 46.87, a price-to-earnings-growth ratio of 1.36 and a beta of 1.26.

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

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on NFLX shares. The Goldman Sachs Group upped their target price 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. KeyCorp raised their price objective on Netflix from $707.00 to $735.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Benchmark boosted their target price on Netflix from $450.00 to $545.00 and gave the stock a “sell” rating in a report on Tuesday, July 16th. JPMorgan Chase & Co. raised their price target on Netflix from $650.00 to $750.00 and gave the company an “overweight” rating in a report on Friday, July 12th. Finally, TD Cowen upped their price target on shares of Netflix from $725.00 to $775.00 and gave the stock a “buy” rating in a research note on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $685.29.

Insider Activity

In related news, CFO Spencer Adam Neumann sold 433 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $626.19, for a total value of $271,140.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Netflix news, CFO Spencer Adam Neumann sold 433 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $626.19, for a total transaction of $271,140.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gregory K. Peters sold 4,783 shares of the business’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $675.00, for a total transaction of $3,228,525.00. Following the completion of the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at approximately $8,835,750. The disclosure for this sale can be found here. Insiders have sold 157,831 shares of company stock worth $102,721,884 in the last three months. Company insiders own 1.76% of the company’s stock.

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.