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Institutions are adjusting their Netflix holdings. Heartland Bank & Trust increased its stake by 0.9% in Q2, owning 1,770 shares worth $1,195,000. Obermeyer Wood and Private Portfolio Partners raised theirs by 2.8% and 1.7% respectively. FAS Wealth Partners and Clear Point Advisors also boosted their positions by 1.5% and 3.9%. Currently, hedge funds own 80.93% of Netflix shares.
Stock Update
Netflix (NASDAQ: NFLX) opened at $706.13, with a market cap of $304.34 billion. The stock has a 52-week range of $344.73 to $725.26, a P/E ratio of 49.00, and a P/E/G of 1.44.
On July 18, Netflix reported $4.88 EPS, exceeding estimates of $4.74, with revenues of $9.56 billion, up 16.8% year-over-year. Analysts forecast an EPS of 19.08 for the current fiscal year.
Analyst Ratings
Recent analyst updates include Evercore ISI raising their price target to $750 and Needham reaffirming a buy rating. Generally, Netflix holds a Moderate Buy consensus with a price target of $686.03.
Insider Trades
Insider David A. Hyman sold 20,656 shares at $605.13 each on August 6, totaling over $12 million. CFO Spencer Neumann sold 433 shares at $626.19 as well. Corporate insiders sold 179,494 shares worth $118 million in the past three months.
About Netflix
Netflix provides a variety of entertainment services, including streaming TV shows, films, and games worldwide.
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