Allium Financial Advisors LLC Takes $242,000 Position in Netflix, Inc. (NASDAQ:NFLX)

Key Points

• Allium Financial Advisors LLC has acquired a new stake in Netflix, purchasing 259 shares valued at approximately $242,000 during the 1st quarter.
• Insider activity includes significant sales by CFO Spencer Adam Neumann and Director Reed Hastings, with Neumann reducing his holdings by 41.34% and Hastings by 98.56%.
• As of the latest reports, Netflix has a consensus price target of $1,297.66, with an average rating of "Moderate Buy" from analysts.

Allium Financial Advisors LLC purchased a new position in Netflix, Inc. (NASDAQ:NFLX - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 259 shares of the Internet television network's stock, valued at approximately $242,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. FMR LLC increased its holdings in 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 buying an additional 375,234 shares in the last quarter. Geode Capital Management LLC increased its holdings in 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 buying an additional 175,596 shares in the last quarter. GAMMA Investing LLC increased its holdings in 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 buying an additional 8,827,662 shares in the last quarter. Alliancebernstein L.P. increased its holdings in Netflix by 1.6% in the 4th quarter. Alliancebernstein L.P. now owns 5,141,328 shares of the Internet television network's stock worth $4,582,568,000 after buying an additional 82,564 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in Netflix by 14.3% in the 4th quarter. Northern Trust Corp now owns 4,574,006 shares of the Internet television network's stock worth $4,076,903,000 after buying an additional 570,674 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company's stock.

Wall Street Analysts Forecast Growth

NFLX has been the subject of several research analyst reports. KeyCorp lifted their price objective on Netflix from $1,070.00 to $1,390.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Jefferies Financial Group set a $1,500.00 price target on Netflix and gave the company a "buy" rating in a research note on Friday, July 18th. Benchmark restated a "hold" rating on shares of Netflix in a research note on Monday, April 21st. Barclays restated a "sell" rating and set a $1,100.00 price target (up from $1,000.00) on shares of Netflix in a research note on Wednesday, July 9th. Finally, Seaport Res Ptn downgraded Netflix from a "strong-buy" rating to a "hold" rating in a research note on Sunday, July 6th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $1,297.66.

Netflix Stock Down 0.0%

Shares of NFLX traded down $0.27 during midday trading on Friday, reaching $1,180.49. 2,624,404 shares of the stock were exchanged, compared to its average volume of 3,928,007. Netflix, Inc. has a 52 week low of $587.04 and a 52 week high of $1,341.15. The company has a current ratio of 1.34, a quick ratio of 1.20 and a debt-to-equity ratio of 0.58. The company's 50 day moving average is $1,236.44 and its two-hundred day moving average is $1,072.76. The company has a market capitalization of $501.63 billion, a P/E ratio of 50.30, a PEG ratio of 1.99 and a beta of 1.59.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The Internet television network reported $7.19 earnings per share 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 firm had revenue of $11.08 billion during the quarter, compared to analysts' expectations of $11.04 billion. During the same period in the prior year, the business posted $4.88 EPS. The firm's quarterly revenue was up 15.9% on a year-over-year basis. On average, sell-side analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insider Transactions at Netflix

In other news, CFO Spencer Adam Neumann sold 2,601 shares of the stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $1,211.67, for a total value of $3,151,553.67. Following the transaction, the chief financial officer directly owned 3,691 shares of the company's stock, valued at approximately $4,472,273.97. This represents a 41.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bradford L. Smith sold 3,919 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $1,124.26, for a total value of $4,405,974.94. Following the completion of the transaction, the director owned 7,969 shares in the company, valued at approximately $8,959,227.94. This trade represents a 32.97% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 185,923 shares of company stock valued at $222,445,095 over the last three months. Company insiders own 1.37% of the company's stock.

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.