MIG Capital LLC Takes $683,000 Position in Netflix, Inc. $NFLX

Key Points

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MIG Capital LLC purchased a new stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 732 shares of the Internet television network's stock, valued at approximately $683,000.

Several other hedge funds and other institutional investors also recently modified their holdings of NFLX. Halbert Hargrove Global Advisors LLC lifted its holdings in Netflix by 100.0% in the first quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock worth $25,000 after purchasing an additional 13 shares during the period. Brown Shipley& Co Ltd acquired a new stake in Netflix in the fourth quarter worth about $27,000. Transce3nd LLC acquired a new stake in Netflix in the fourth quarter worth about $32,000. Copia Wealth Management acquired a new stake in Netflix in the fourth quarter worth about $37,000. Finally, Barnes Dennig Private Wealth Management LLC acquired a new stake in Netflix in the first quarter worth about $42,000. Institutional investors and hedge funds own 80.93% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on NFLX shares. Wedbush reaffirmed an "outperform" rating and issued a $1,500.00 price objective (up previously from $1,400.00) on shares of Netflix in a report on Monday, July 14th. Wells Fargo & Company upped their price objective on shares of Netflix from $1,500.00 to $1,560.00 and gave the stock an "overweight" rating in a report on Friday, July 18th. Rosenblatt Securities upped their price objective on shares of Netflix from $1,514.00 to $1,515.00 and gave the stock a "buy" rating in a report on Friday, July 18th. JPMorgan Chase & Co. upped their price objective on shares of Netflix from $1,230.00 to $1,300.00 and gave the stock a "neutral" rating in a report on Friday, July 18th. Finally, BMO Capital Markets reaffirmed an "outperform" rating and issued a $1,425.00 price objective (up previously from $1,200.00) on shares of Netflix in a report on Tuesday, July 15th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $1,297.66.

Netflix Trading Up 0.5%

Shares of NASDAQ NFLX opened at $1,245.09 on Tuesday. The stock has a market cap of $529.08 billion, a price-to-earnings ratio of 53.05, a PEG ratio of 2.09 and a beta of 1.59. The business has a 50 day simple moving average of $1,231.65 and a 200 day simple moving average of $1,105.79. Netflix, Inc. has a 52 week low of $660.80 and a 52 week 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.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, beating the consensus estimate of $7.07 by $0.12. The business had revenue of $11.08 billion during 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 quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.88 EPS. On average, research analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider David A. Hyman sold 424 shares of the business's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $1,158.67, for a total value of $491,276.08. Following the completion of the sale, the insider owned 31,610 shares of the company's stock, valued at approximately $36,625,558.70. The trade was a 1.32% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Gregory K. Peters sold 2,026 shares of the business's stock in a transaction that occurred on Tuesday, August 5th. The shares were 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 of the company's stock, valued at approximately $14,793,240.64. The trade was a 13.68% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 146,307 shares of company stock worth $179,443,809 in the last quarter. Corporate insiders own 1.37% of the company's stock.

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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