Lyell Wealth Management LP Has $21.69 Million Stock Position in Netflix, Inc. $NFLX

Lyell Wealth Management LP boosted its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 2.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,196 shares of the Internet television network’s stock after purchasing an additional 443 shares during the period. Netflix accounts for approximately 1.7% of Lyell Wealth Management LP’s portfolio, making the stock its 13th biggest position. Lyell Wealth Management LP’s holdings in Netflix were worth $21,689,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of NFLX. Nuveen LLC acquired a new stake in Netflix during the first quarter valued at $2,385,585,000. Kingstone Capital Partners Texas LLC boosted its position in Netflix by 343,058.2% during the second 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 during the last quarter. Goldman Sachs Group Inc. raised its holdings in Netflix by 57.3% during the first quarter. Goldman Sachs Group Inc. now owns 3,393,064 shares of the Internet television network’s stock valued at $3,164,134,000 after buying an additional 1,236,251 shares in the last quarter. Amundi raised its holdings in Netflix by 37.7% during the first quarter. Amundi now owns 2,070,221 shares of the Internet television network’s stock valued at $1,898,496,000 after buying an additional 567,251 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in Netflix by 1.4% during 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 in the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Insider Activity

In related news, CFO Spencer Adam Neumann sold 2,601 shares of the business’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $1,162.40, for a total transaction of $3,023,402.40. Following the transaction, the chief financial officer directly owned 3,691 shares in the company, valued at $4,290,418.40. The trade was a 41.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Reed Hastings sold 42,176 shares of the business’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $1,171.92, for a total value of $49,426,897.92. Following the transaction, the director owned 394 shares in the company, valued at $461,736.48. This represents a 99.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 104,100 shares of company stock valued at $122,710,980. Corporate insiders own 1.37% of the company’s stock.

Netflix Trading Up 1.3%

Netflix stock opened at $1,199.36 on Monday. 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 simple moving average is $1,213.47 and its 200-day simple moving average is $1,179.41. The firm has a market capitalization of $509.64 billion, a PE ratio of 51.10, a PEG ratio of 2.02 and a beta of 1.59. Netflix, Inc. has a 52 week low of $736.23 and a 52 week high of $1,341.15.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, topping analysts’ consensus estimates of $7.07 by $0.12. Netflix had a return on equity of 42.50% and a net margin of 24.58%.The business had revenue of $11.08 billion for the quarter, compared to analyst estimates of $11.04 billion. During the same period in the previous year, the company posted $4.88 earnings per share. The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. Equities research analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

NFLX has been the topic of several recent research reports. Itau BBA Securities initiated coverage on Netflix in a report on Tuesday, October 7th. They set an “outperform” rating and a $1,514.00 target price on the stock. Jefferies Financial Group restated a “buy” rating on shares of Netflix in a report on Tuesday, October 14th. Wall Street Zen lowered Netflix from a “buy” rating to a “hold” rating in a report on Saturday, October 4th. Sanford C. Bernstein restated a “buy” rating on shares of Netflix in a report on Friday. Finally, JPMorgan Chase & Co. raised their target price on Netflix from $1,230.00 to $1,300.00 and gave the company a “neutral” rating in a report on Friday, July 18th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $1,339.81.

Netflix Company Profile

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.