Advent Capital Management DE Acquires Shares of 3,500 Netflix, Inc. (NASDAQ:NFLX)

Key Points

• Advent Capital Management DE purchased 3,500 shares of Netflix, valued at approximately $3,264,000, during the 1st quarter, as per SEC filings.
• The stock of Netflix has been actively traded by institutional investors, with 80.93% of the shares being owned by them.
• Analysts have set an average price target of $1,297.66 for Netflix, with a consensus rating of "Moderate Buy."

Advent Capital Management DE acquired a new position in Netflix, Inc. (NASDAQ:NFLX - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 3,500 shares of the Internet television network's stock, valued at approximately $3,264,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in NFLX. Fullcircle Wealth LLC boosted its stake in Netflix by 2.5% during the first quarter. Fullcircle Wealth LLC now owns 369 shares of the Internet television network's stock worth $344,000 after buying an additional 9 shares during the period. Mission Creek Capital Partners Inc. raised its holdings in Netflix by 0.3% in the fourth quarter. Mission Creek Capital Partners Inc. now owns 3,826 shares of the Internet television network's stock worth $3,410,000 after purchasing an additional 10 shares in the last quarter. Continuum Wealth Advisors LLC raised its holdings in Netflix by 4.4% in the first quarter. Continuum Wealth Advisors LLC now owns 235 shares of the Internet television network's stock worth $219,000 after purchasing an additional 10 shares in the last quarter. Financial Enhancement Group LLC raised its holdings in Netflix by 2.5% in the first quarter. Financial Enhancement Group LLC now owns 412 shares of the Internet television network's stock worth $384,000 after purchasing an additional 10 shares in the last quarter. Finally, Saxony Capital Management LLC increased its holdings in shares of Netflix by 1.4% during the first quarter. Saxony Capital Management LLC now owns 707 shares of the Internet television network's stock valued at $659,000 after acquiring an additional 10 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company's stock.

Insider Buying and Selling

In related news, CEO Theodore A. Sarandos sold 2,026 shares of the firm's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $1,160.62, for a total transaction of $2,351,416.12. Following the sale, the chief executive officer directly owned 15,168 shares in the company, valued at approximately $17,604,284.16. This trade represents a 11.78% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Spencer Adam Neumann sold 685 shares of the firm's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $1,161.21, for a total value of $795,428.85. Following the sale, the chief financial officer owned 3,691 shares in the company, valued at approximately $4,286,026.11. The trade was a 15.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 150,226 shares of company stock worth $183,849,784 over the last ninety days. Insiders own 1.37% of the company's stock.

Netflix Trading Up 2.6%

NFLX traded up $31.27 during midday trading on Friday, hitting $1,211.64. The company's stock had a trading volume of 3,811,512 shares, compared to its average volume of 3,954,067. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.58. The firm has a market cap of $514.86 billion, a P/E ratio of 51.63, a PEG ratio of 2.04 and a beta of 1.59. The firm has a 50-day moving average price of $1,232.25 and a two-hundred day moving average price of $1,095.21. Netflix, Inc. has a 52-week low of $622.99 and a 52-week high of $1,341.15.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, beating the consensus estimate of $7.07 by $0.12. The company had revenue of $11.08 billion during the quarter, compared to analysts' expectations of $11.04 billion. Netflix had a return on equity of 42.50% and a net margin of 24.58%. The firm's revenue was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.88 EPS. On average, research analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently weighed in on NFLX. Rosenblatt Securities increased their price target on shares of Netflix from $1,514.00 to $1,515.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Wall Street Zen cut shares of Netflix from a "buy" rating to a "hold" rating in a research note on Saturday. Loop Capital reissued a "hold" rating on shares of Netflix in a research note on Tuesday, July 15th. Jefferies Financial Group set a $1,500.00 price target on shares of Netflix and gave the company a "buy" rating in a research note on Friday, July 18th. Finally, Robert W. Baird lifted their price target on shares of Netflix from $1,300.00 to $1,500.00 and gave the company an "outperform" rating in a research note on Monday, July 21st. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Netflix has a consensus rating of "Moderate Buy" and an average target price of $1,297.66.

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.