Klingman & Associates LLC Raises Position in Netflix, Inc. $NFLX

Key Points

• Klingman & Associates LLC increased its stake in Netflix, Inc. by 21.7% in the second quarter, holding 1,487 shares valued at approximately $1,991,000.
• Numerous hedge funds have significantly altered their positions in Netflix, with Nuveen LLC investing over $2.38 billion in the first quarter and other firms drastically increasing their stakes.
• Despite insider sales, analysts have given Netflix a consensus of "Moderate Buy," with price targets ranging as high as $1,500.00, indicating strong confidence in the company's future performance.

Klingman & Associates LLC raised its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 21.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,487 shares of the Internet television network's stock after buying an additional 265 shares during the period. Klingman & Associates LLC's holdings in Netflix were worth $1,991,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Nuveen LLC purchased a new stake in shares of Netflix during the first quarter worth approximately $2,385,585,000. Kingstone Capital Partners Texas LLC lifted its holdings in Netflix by 343,058.2% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 2,463,876 shares of the Internet television network's stock valued at $3,299,450,000 after purchasing an additional 2,463,158 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Netflix by 57.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,393,064 shares of the Internet television network's stock worth $3,164,134,000 after purchasing an additional 1,236,251 shares during the last quarter. Amundi grew its holdings in shares of Netflix by 37.7% during the first quarter. Amundi now owns 2,070,221 shares of the Internet television network's stock worth $1,898,496,000 after buying an additional 567,251 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Netflix by 1.4% in the first quarter. Vanguard Group Inc. now owns 37,997,260 shares of the Internet television network's stock valued at $35,433,585,000 after buying an additional 509,255 shares during the last quarter. Institutional investors and hedge funds own 80.93% of the company's stock.

Analysts Set New Price Targets

NFLX has been the topic of a number of recent research reports. Citigroup restated a "neutral" rating and set a $1,295.00 price target (up from $1,280.00) on shares of Netflix in a research report on Friday, October 3rd. Jefferies Financial Group restated a "buy" rating on shares of Netflix in a report on Tuesday, October 14th. UBS Group restated a "buy" rating and issued a $1,495.00 price target on shares of Netflix in a research report on Thursday, October 16th. Needham & Company LLC reiterated a "buy" rating and set a $1,500.00 price objective on shares of Netflix in a research report on Wednesday, September 10th. Finally, Wedbush reissued an "outperform" rating on shares of Netflix in a research note on Wednesday, October 15th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $1,339.81.

Insiders Place Their Bets

In other news, CEO Gregory K. Peters sold 2,026 shares of the stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $1,157.44, for a total transaction of $2,344,973.44. Following the completion of the transaction, the chief executive officer directly owned 12,781 shares in the company, valued at approximately $14,793,240.64. This represents a 13.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Reed Hastings sold 42,176 shares of the firm's stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $1,171.92, for a total value of $49,426,897.92. Following the sale, the director directly owned 394 shares of the company's stock, valued at $461,736.48. The trade was a 99.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 104,100 shares of company stock worth $122,710,980. Corporate insiders own 1.37% of the company's stock.

Netflix Trading Up 3.3%

NFLX opened at $1,238.56 on Tuesday. The stock has a market capitalization of $526.30 billion, a PE ratio of 52.77, a P/E/G ratio of 2.02 and a beta of 1.59. Netflix, Inc. has a one year low of $744.26 and a one year high of $1,341.15. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.34 and a current ratio of 1.34. The business's 50 day moving average price is $1,213.87 and its 200 day moving average price is $1,182.08.

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.

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