Brown Brothers Harriman & Co. Acquires 431 Shares of Netflix, Inc. (NASDAQ:NFLX)

Brown Brothers Harriman & Co. lifted its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 11.6% in the second quarter, HoldingsChannel reports. The institutional investor owned 4,142 shares of the Internet television network’s stock after buying an additional 431 shares during the period. Brown Brothers Harriman & Co.’s holdings in Netflix were worth $2,795,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of NFLX. M&G Plc bought a new position in Netflix in the first quarter valued at approximately $9,682,000. BSN CAPITAL PARTNERS Ltd increased its holdings in Netflix by 24.4% during the first quarter. BSN CAPITAL PARTNERS Ltd now owns 250,000 shares of the Internet television network’s stock worth $155,185,000 after buying an additional 49,000 shares during the last quarter. Scarborough Advisors LLC acquired a new position in Netflix during the fourth quarter worth $9,513,000. Scotia Capital Inc. raised its position in Netflix by 9.1% during the fourth quarter. Scotia Capital Inc. now owns 25,351 shares of the Internet television network’s stock worth $12,343,000 after acquiring an additional 2,110 shares in the last quarter. Finally, Focus Financial Network Inc. ADV acquired a new stake in Netflix in the fourth quarter valued at $3,700,000. Institutional investors own 80.93% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NFLX. UBS Group boosted their price objective on shares of Netflix from $685.00 to $750.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Wedbush restated an “outperform” rating and issued a $725.00 price objective on shares of Netflix in a research note on Monday, May 20th. Evercore ISI lifted their target price on Netflix from $710.00 to $750.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 27th. Bank of America increased their price target on Netflix from $700.00 to $740.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Finally, Jefferies Financial Group raised their price target on Netflix from $655.00 to $780.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Netflix presently has an average rating of “Moderate Buy” and a consensus price target of $685.29.

Insiders Place Their Bets

In related news, Director Jay C. Hoag sold 43,750 shares of the business’s stock in a transaction 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 sale, the director now owns 95,040 shares in the company, valued at approximately $65,299,132.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Jay C. Hoag sold 37,675 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $629.73, for a total transaction of $23,725,077.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jay C. Hoag sold 43,750 shares of Netflix 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 completion of the transaction, the director now directly owns 95,040 shares in the company, valued at $65,299,132.80. 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 currently owned by insiders.

Netflix Trading Down 0.1 %

Shares of NFLX stock opened at $696.50 on Tuesday. Netflix, Inc. has a fifty-two week low of $344.73 and a fifty-two week high of $711.33. The stock’s fifty day moving average price is $660.22 and its two-hundred day moving average price is $638.54. 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 cap of $300.19 billion, a PE ratio of 48.33, a P/E/G ratio of 1.40 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 for the quarter, topping the consensus estimate of $4.74 by $0.14. The business had revenue of $9.56 billion during 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 for the quarter was up 16.8% on a year-over-year basis. During the same period in the prior year, the company earned $3.29 EPS. Equities analysts predict that Netflix, Inc. will post 19.08 EPS for the current fiscal year.

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.