Sierra Summit Advisors LLC Raises Holdings in Netflix, Inc. (NASDAQ:NFLX)

Sierra Summit Advisors LLC increased its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 12.6% during the 2nd quarter, Holdings Channel.com reports. The fund owned 8,474 shares of the Internet television network’s stock after purchasing an additional 951 shares during the quarter. Sierra Summit Advisors LLC’s holdings in Netflix were worth $5,719,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its holdings in Netflix by 23.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 912,684 shares of the Internet television network’s stock valued at $615,993,000 after buying an additional 171,788 shares during the last quarter. Capital Wealth Planning LLC increased its position in shares of Netflix by 32.8% in the second quarter. Capital Wealth Planning LLC now owns 1,033 shares of the Internet television network’s stock valued at $697,000 after acquiring an additional 255 shares during the period. Angeles Investment Advisors LLC raised its stake in shares of Netflix by 19.3% during the second quarter. Angeles Investment Advisors LLC now owns 1,099 shares of the Internet television network’s stock valued at $742,000 after acquiring an additional 178 shares during the last quarter. Fairfield Financial Advisors LTD purchased a new stake in shares of Netflix during the second quarter worth about $82,000. Finally, Brown Brothers Harriman & Co. grew its stake in shares of Netflix by 11.6% in the second quarter. Brown Brothers Harriman & Co. now owns 4,142 shares of the Internet television network’s stock worth $2,795,000 after purchasing an additional 431 shares during the last quarter. Institutional investors own 80.93% of the company’s stock.

Netflix Price Performance

NASDAQ NFLX opened at $697.06 on Monday. The stock has a market capitalization of $299.16 billion, a price-to-earnings ratio of 48.37, a PEG ratio of 1.40 and a beta of 1.26. Netflix, Inc. has a 1-year low of $344.73 and a 1-year high of $711.33. 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 business’s fifty day moving average price is $660.00 and its 200-day moving average price is $637.88.

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

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Sanford C. Bernstein increased their price objective on Netflix from $600.00 to $625.00 and gave the stock a “market perform” rating in a report on Friday, July 19th. Wedbush restated an “outperform” rating and set a $725.00 target price on shares of Netflix in a report on Monday, May 20th. Benchmark lifted their price target on shares of Netflix from $450.00 to $545.00 and gave the company a “sell” rating in a report on Tuesday, July 16th. Guggenheim upped their price objective on shares of Netflix from $700.00 to $735.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Finally, Loop Capital lifted their target price on shares of Netflix from $700.00 to $750.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. One investment 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. According to MarketBeat.com, Netflix currently has an average rating of “Moderate Buy” and a consensus target price of $685.29.

Insider Buying and Selling

In other Netflix news, insider David A. Hyman sold 20,656 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at $19,128,159.30. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Netflix news, insider David A. Hyman sold 20,656 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the completion of the sale, the insider now owns 31,610 shares of the company’s stock, valued at $19,128,159.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Spencer Adam Neumann sold 433 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $626.19, for a total value of $271,140.27. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 196,798 shares of company stock valued at $129,552,672. 1.76% of the stock is owned by insiders.

Netflix Company 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.