CRA Financial Services LLC Increases Stake in Netflix, Inc. (NASDAQ:NFLX)

CRA Financial Services LLC raised its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 7.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,209 shares of the Internet television network’s stock after buying an additional 148 shares during the period. CRA Financial Services LLC’s holdings in Netflix were worth $973,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Brookstone Capital Management increased its holdings in Netflix by 4.9% during the second quarter. Brookstone Capital Management now owns 4,848 shares of the Internet television network’s stock valued at $2,124,000 after buying an additional 228 shares during the last quarter. Drake & Associates LLC purchased a new stake in Netflix during the second quarter valued at approximately $233,000. Castle Rock Wealth Management LLC increased its holdings in Netflix by 1.7% during the second quarter. Castle Rock Wealth Management LLC now owns 1,904 shares of the Internet television network’s stock valued at $849,000 after buying an additional 32 shares during the last quarter. David J Yvars Group purchased a new stake in shares of Netflix in the second quarter worth $207,000. Finally, Czech National Bank increased its stake in shares of Netflix by 0.3% in the second quarter. Czech National Bank now owns 52,624 shares of the Internet television network’s stock worth $23,180,000 after purchasing an additional 160 shares in the last quarter. 79.95% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Netflix

In other Netflix news, Director Timothy M. Haley sold 1,022 shares of the firm’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $450.19, for a total transaction of $460,094.18. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Netflix news, Director Jay C. Hoag sold 943 shares of the firm’s stock in a transaction dated Thursday, July 13th. The shares were sold at an average price of $450.00, for a total transaction of $424,350.00. Following the transaction, the director now owns 421,491 shares of the company’s stock, valued at approximately $189,670,950. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Timothy M. Haley sold 1,022 shares of the firm’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $450.19, for a total transaction of $460,094.18. The disclosure for this sale can be found here. In the last quarter, insiders have sold 125,377 shares of company stock valued at $54,547,674. Company insiders own 2.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NFLX. Loop Capital raised shares of Netflix from a “hold” rating to a “buy” rating and increased their price objective for the stock from $425.00 to $500.00 in a research note on Friday, August 25th. Bank of America increased their price objective on shares of Netflix from $490.00 to $525.00 and gave the stock a “buy” rating in a research note on Thursday, July 20th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Netflix from $410.00 to $475.00 and gave the stock a “buy” rating in a research note on Monday, July 17th. Oppenheimer reissued an “outperform” rating and issued a $515.00 price objective on shares of Netflix in a research note on Wednesday, August 23rd. Finally, Robert W. Baird raised shares of Netflix from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $340.00 to $500.00 in a research note on Monday, July 24th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $432.91.

Netflix Trading Down 0.9 %

NFLX stock traded down $3.55 during trading on Friday, hitting $396.94. The company had a trading volume of 9,116,745 shares, compared to its average volume of 4,745,129. The firm has a market capitalization of $175.90 billion, a P/E ratio of 42.27, a PEG ratio of 1.33 and a beta of 1.29. Netflix, Inc. has a 52-week low of $211.73 and a 52-week high of $485.00. The company has a 50 day simple moving average of $430.91 and a 200-day simple moving average of $384.11. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.62.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Wednesday, July 19th. The Internet television network reported $3.29 EPS for the quarter, topping the consensus estimate of $2.85 by $0.44. The company had revenue of $8.19 billion for the quarter, compared to the consensus estimate of $8.29 billion. Netflix had a net margin of 13.22% and a return on equity of 19.76%. The firm’s revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the firm posted $3.20 EPS. As a group, research analysts forecast that Netflix, Inc. will post 11.92 earnings per share for the current fiscal year.

About Netflix

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and mobile games across various genres and languages. The company provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, television set-top boxes, and mobile devices.