Brass Tax Wealth Management Inc. Buys New Position in Netflix, Inc. (NASDAQ:NFLX)

Brass Tax Wealth Management Inc. bought a new position in Netflix, Inc. (NASDAQ:NFLX - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 246 shares of the Internet television network's stock, valued at approximately $229,000.

Other hedge funds have also added to or reduced their stakes in the company. Halbert Hargrove Global Advisors LLC boosted its holdings in Netflix by 100.0% in the first quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock worth $25,000 after acquiring an additional 13 shares in the last quarter. Brown Shipley& Co Ltd purchased a new position in shares of Netflix in the fourth quarter worth $27,000. Transce3nd LLC purchased a new position in shares of Netflix in the fourth quarter worth $32,000. Copia Wealth Management purchased a new position in shares of Netflix in the fourth quarter worth $37,000. Finally, Barnes Dennig Private Wealth Management LLC purchased a new position in shares of Netflix in the first quarter worth $42,000. 80.93% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Guggenheim restated a "buy" rating and issued a $1,150.00 price target (up previously from $1,100.00) on shares of Netflix in a research note on Friday, April 18th. Wolfe Research set a $1,340.00 price target on Netflix and gave the stock an "outperform" rating in a research note on Friday, May 16th. BMO Capital Markets restated an "outperform" rating and issued a $1,200.00 price target (up previously from $1,175.00) on shares of Netflix in a research note on Friday, April 18th. Citigroup restated a "neutral" rating and issued a $1,250.00 price target (up previously from $1,020.00) on shares of Netflix in a research note on Thursday, May 29th. Finally, FBN Securities assumed coverage on Netflix in a research report on Thursday, March 27th. They set an "outperform" rating and a $1,165.00 price objective for the company. Eleven research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $1,182.58.

Insider Buying and Selling

In other news, CFO Spencer Adam Neumann sold 2,601 shares of Netflix stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $1,132.38, for a total value of $2,945,320.38. Following the completion of the transaction, the chief financial officer owned 3,691 shares in the company, valued at approximately $4,179,614.58. The trade was a 41.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Reed Hastings sold 26,977 shares of Netflix stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $1,133.05, for a total value of $30,566,289.85. Following the completion of the transaction, the director owned 394 shares of the company's stock, valued at approximately $446,421.70. This trade represents a 98.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 186,723 shares of company stock worth $223,307,201 in the last 90 days. Company insiders own 1.37% of the company's stock.

Netflix Trading Down 0.6%

Shares of Netflix stock traded down $7.56 on Monday, reaching $1,289.62. The company had a trading volume of 2,271,110 shares, compared to its average volume of 3,760,110. The firm has a market cap of $548.82 billion, a price-to-earnings ratio of 60.95, a P/E/G ratio of 2.35 and a beta of 1.59. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.20 and a quick ratio of 1.20. The firm's 50-day moving average price is $1,207.87 and its two-hundred day moving average price is $1,038.56. Netflix, Inc. has a 1 year low of $587.04 and a 1 year high of $1,341.15.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its earnings results on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, topping analysts' consensus estimates of $5.74 by $0.87. The firm had revenue of $10.54 billion during the quarter, compared to analysts' expectations of $10.51 billion. Netflix had a return on equity of 39.61% and a net margin of 23.07%. During the same quarter in the previous year, the business earned $8.28 EPS. As a group, research analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

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.