Simplicity Wealth LLC Boosts Holdings in Netflix, Inc. (NASDAQ:NFLX)

Simplicity Wealth LLC lifted its stake in Netflix, Inc. (NASDAQ:NFLX) by 86.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,675 shares of the Internet television network’s stock after buying an additional 1,708 shares during the period. Simplicity Wealth LLC’s holdings in Netflix were worth $3,427,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Netflix by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 37,488,005 shares of the Internet television network’s stock worth $33,413,809,000 after purchasing an additional 171,712 shares during the period. FMR LLC lifted its stake in shares of Netflix by 1.8% in the 4th quarter. FMR LLC now owns 20,887,090 shares of the Internet television network’s stock worth $18,617,081,000 after acquiring an additional 375,234 shares during the period. Geode Capital Management LLC lifted its stake in shares of Netflix by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 9,323,952 shares of the Internet television network’s stock worth $8,287,823,000 after acquiring an additional 175,596 shares during the period. GAMMA Investing LLC lifted its stake in shares of Netflix by 109,524.3% in the 1st quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network’s stock worth $8,239,576,000 after acquiring an additional 8,827,662 shares during the period. Finally, Norges Bank acquired a new stake in shares of Netflix in the 4th quarter worth $5,019,087,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Netflix

In related news, Chairman Reed Hastings sold 25,360 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $921.15, for a total transaction of $23,360,364.00. Following the transaction, the chairman now owns 394 shares of the company’s stock, valued at approximately $362,933.10. This trade represents a 98.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Spencer Adam Neumann sold 2,601 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $921.72, for a total transaction of $2,397,393.72. Following the transaction, the chief financial officer now directly owns 3,691 shares in the company, valued at approximately $3,402,068.52. The trade was a 41.34% decrease in their position. The disclosure for this sale can be found here. Insiders sold 185,140 shares of company stock valued at $210,271,552 over the last three months. 1.37% of the stock is owned by corporate insiders.

Netflix Stock Performance

Shares of NFLX opened at $1,224.46 on Tuesday. Netflix, Inc. has a one year low of $587.04 and a one year high of $1,262.81. The company has a 50-day moving average of $1,093.58 and a two-hundred day moving average of $991.46. The stock has a market cap of $521.09 billion, a price-to-earnings ratio of 61.75, a PEG ratio of 2.12 and a beta of 1.59. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.74 by $0.87. The business had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.51 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. During the same period in the prior year, the firm earned $8.28 earnings per share. On average, equities research analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. FBN Securities assumed coverage on shares of Netflix in a research note on Thursday, March 27th. They issued an “outperform” rating and a $1,165.00 target price for the company. Guggenheim restated a “buy” rating and issued a $1,150.00 target price (up previously from $1,100.00) on shares of Netflix in a research note on Friday, April 18th. Morgan Stanley raised their target price on shares of Netflix from $1,150.00 to $1,200.00 and gave the stock an “overweight” rating in a research note on Monday, April 21st. Bank of America raised their price objective on shares of Netflix from $1,175.00 to $1,490.00 and gave the company a “buy” rating in a research note on Friday, May 30th. Finally, Barclays raised their price objective on shares of Netflix from $900.00 to $1,000.00 and gave the company an “equal weight” rating in a research note on Monday, April 21st. Eleven research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,149.91.

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.