Angeles Wealth Management LLC Increases Stake in Netflix, Inc. $NFLX

Key Points

• Angeles Wealth Management LLC has increased its stake in Netflix, Inc. by 9.7% in the second quarter, bringing its total ownership to 2,703 shares valued at approximately $3.62 million.
• Netflix reported a quarterly earnings of $7.19 per share, exceeding analysts' expectations, and demonstrated a revenue growth of 15.9% year-over-year.
• The stock price of Netflix opened at $1,183.59 with a market cap of $502.94 billion, showing significant institutional ownership, with 80.93% held by hedge funds and other investors.

Angeles Wealth Management LLC boosted its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 9.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,703 shares of the Internet television network's stock after purchasing an additional 240 shares during the period. Angeles Wealth Management LLC's holdings in Netflix were worth $3,620,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Oriental Harbor Investment Master Fund purchased a new position in Netflix in the 2nd quarter worth approximately $57,261,000. Nordea Investment Management AB increased its stake in Netflix by 7.8% in the 2nd quarter. Nordea Investment Management AB now owns 945,067 shares of the Internet television network's stock worth $1,256,131,000 after purchasing an additional 68,461 shares during the period. Empirical Asset Management LLC increased its stake in Netflix by 7.4% in the 2nd quarter. Empirical Asset Management LLC now owns 1,368 shares of the Internet television network's stock worth $1,832,000 after purchasing an additional 94 shares during the period. Consilio Wealth Advisors LLC increased its stake in shares of Netflix by 3.6% during the second quarter. Consilio Wealth Advisors LLC now owns 541 shares of the Internet television network's stock valued at $716,000 after buying an additional 19 shares during the period. Finally, Werba Rubin Papier Wealth Management increased its stake in shares of Netflix by 6.7% during the second quarter. Werba Rubin Papier Wealth Management now owns 735 shares of the Internet television network's stock valued at $984,000 after buying an additional 46 shares during the period. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Price Performance

Shares of NFLX stock opened at $1,183.59 on Friday. The stock has a market cap of $502.94 billion, a price-to-earnings ratio of 50.43, a PEG ratio of 2.02 and a beta of 1.59. The business's fifty day moving average is $1,213.72 and its 200 day moving average is $1,174.05. Netflix, Inc. has a twelve month low of $677.88 and a twelve month high of $1,341.15. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.58.

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

Insider Buying and Selling

In related news, insider Cletus R. Willems sold 238 shares of the company's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $1,153.52, for a total value of $274,537.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Gregory K. Peters sold 2,026 shares of the company's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $1,157.44, for a total value of $2,344,973.44. Following the completion of the sale, the chief executive officer directly owned 12,781 shares in the company, valued at approximately $14,793,240.64. The trade was a 13.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 104,100 shares of company stock valued at $122,710,980 over the last 90 days. 1.37% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on NFLX shares. The Goldman Sachs Group reduced their target price on Netflix from $1,310.00 to $1,300.00 and set a "neutral" rating on the stock in a research note on Tuesday, September 30th. Rosenblatt Securities boosted their target price on Netflix from $1,514.00 to $1,515.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Barclays reissued a "sell" rating and set a $1,100.00 target price (up from $1,000.00) on shares of Netflix in a research note on Wednesday, July 9th. Seaport Res Ptn raised Netflix from a "hold" rating to a "strong-buy" rating in a research note on Monday, October 6th. Finally, Zacks Research cut Netflix from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 1st. Two equities research 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 assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,339.81.

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.

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