Wedge Capital Management L L P NC Buys Shares of 229 Netflix, Inc. (NASDAQ:NFLX)

Wedge Capital Management L L P NC purchased a new stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 229 shares of the Internet television network's stock, valued at approximately $214,000.

Other hedge funds also recently modified their holdings of the company. Pathway Financial Advisers LLC increased its position in Netflix by 82.4% in the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network's stock valued at $27,000 after buying an additional 14 shares in the last quarter. Brown Shipley& Co Ltd purchased a new position in Netflix during the fourth quarter worth about $27,000. Transce3nd LLC purchased a new position in shares of Netflix in the 4th quarter worth about $32,000. Copia Wealth Management bought a new stake in Netflix in the fourth quarter valued at approximately $37,000. Finally, Stuart Chaussee & Associates Inc. grew its stake in shares of Netflix by 4,500.0% in the fourth quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network's stock worth $41,000 after purchasing an additional 45 shares during the last quarter. Institutional investors and hedge funds own 80.93% of the company's stock.

Insider Buying and Selling

In other Netflix news, CAO Jeffrey William Karbowski sold 480 shares of Netflix stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $978.18, for a total value of $469,526.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Reed Hastings sold 25,360 shares of the company's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $921.15, for a total value of $23,360,364.00. Following the transaction, the chairman now directly owns 394 shares of the company's stock, valued at approximately $362,933.10. This represents a 98.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 185,140 shares of company stock valued at $210,271,552. Company insiders own 1.37% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. FBN Securities started coverage on shares of Netflix in a research report on Thursday, March 27th. They set an "outperform" rating and a $1,165.00 price objective on the stock. Guggenheim reissued a "buy" rating and issued a $1,150.00 target price (up previously from $1,100.00) on shares of Netflix in a report on Friday, April 18th. Macquarie lifted their price target on Netflix from $1,150.00 to $1,200.00 and gave the stock an "outperform" rating in a research report on Monday, April 21st. Wells Fargo & Company upped their price target on shares of Netflix from $1,210.00 to $1,222.00 and gave the stock an "overweight" rating in a report on Monday, April 21st. Finally, Evercore ISI reissued an "outperform" rating on shares of Netflix in a research report on Thursday, May 15th. 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 company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $1,156.73.

Netflix Stock Down 0.4%

NFLX traded down $4.85 during trading on Thursday, hitting $1,215.03. 2,079,198 shares of the company's stock were exchanged, compared to its average volume of 3,762,526. Netflix, Inc. has a fifty-two week low of $587.04 and a fifty-two week high of $1,262.81. The stock has a market cap of $517.08 billion, a P/E ratio of 61.27, a PEG ratio of 2.12 and a beta of 1.59. The business's 50 day moving average is $1,106.59 and its two-hundred day moving average is $994.50. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.74 by $0.87. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The firm had revenue of $10.54 billion for the quarter, compared to analysts' expectations of $10.51 billion. During the same period last year, the firm earned $8.28 earnings per share. As a group, equities analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

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.