Primecap Management Co. CA Has $109.66 Million Stake in Netflix, Inc. (NASDAQ:NFLX)

Primecap Management Co. CA reduced its holdings in Netflix, Inc. (NASDAQ:NFLX) by 0.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 162,490 shares of the Internet television network’s stock after selling 1,300 shares during the quarter. Primecap Management Co. CA’s holdings in Netflix were worth $109,661,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Denver PWM LLC acquired a new position in Netflix in the second quarter worth $25,000. Valued Wealth Advisors LLC lifted its position in Netflix by 80.0% during the 1st quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock worth $27,000 after buying an additional 20 shares in the last quarter. VitalStone Financial LLC grew its holdings in Netflix by 933.3% during the 4th quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock worth $30,000 after acquiring an additional 56 shares during the last quarter. Beaird Harris Wealth Management LLC grew its holdings in Netflix by 1,550.0% during the 4th quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock worth $32,000 after acquiring an additional 62 shares during the last quarter. Finally, Scarborough Advisors LLC acquired a new stake in Netflix in the 4th quarter valued at about $32,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Stock Performance

Shares of NFLX opened at $706.91 on Wednesday. The stock has a market capitalization of $304.68 billion, a price-to-earnings ratio of 49.06, a PEG ratio of 1.40 and a beta of 1.26. Netflix, Inc. has a 12 month low of $344.73 and a 12 month high of $711.33. The firm has a fifty day simple moving average of $660.64 and a 200 day simple moving average of $639.15. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55.

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

Insider Buying and Selling at Netflix

In other Netflix news, Director Jay C. Hoag sold 43,750 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $687.07, for a total transaction of $30,059,312.50. Following the transaction, the director now owns 95,040 shares of the company’s stock, valued at approximately $65,299,132.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider David A. Hyman sold 20,656 shares of the firm’s stock in a transaction dated 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 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 at the SEC website. Also, Director Jay C. Hoag sold 43,750 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $687.07, for a total value of $30,059,312.50. Following the transaction, the director now directly owns 95,040 shares in the company, valued at approximately $65,299,132.80. The disclosure for this sale can be found here. Insiders sold a total of 196,798 shares of company stock worth $129,552,672 over the last ninety days. 1.76% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

NFLX has been the subject of a number of research reports. Guggenheim raised their price target on shares of Netflix from $700.00 to $735.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Redburn Atlantic lifted their target price on Netflix from $740.00 to $760.00 and gave the company a “buy” rating in a research note on Friday, July 19th. Argus raised their price target on Netflix from $660.00 to $767.00 and gave the company a “buy” rating in a report on Tuesday, July 2nd. Loop Capital boosted their price objective on Netflix from $700.00 to $750.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. Finally, Bank of America lifted their price target on shares of Netflix from $700.00 to $740.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat, Netflix has an average rating of “Moderate Buy” and a consensus price target of $685.29.

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.