Amalgamated Bank Acquires 1,922 Shares of Netflix, Inc. (NASDAQ:NFLX)

Amalgamated Bank lifted its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 2.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 92,968 shares of the Internet television network's stock after acquiring an additional 1,922 shares during the quarter. Netflix makes up 0.7% of Amalgamated Bank's investment portfolio, making the stock its 18th largest position. Amalgamated Bank's holdings in Netflix were worth $86,695,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC raised its holdings in shares of Netflix by 5.0% during the 4th quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network's stock valued at $4,804,000 after buying an additional 257 shares in the last quarter. Revolve Wealth Partners LLC increased its stake in Netflix by 16.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network's stock worth $912,000 after purchasing an additional 144 shares during the period. Sherman Asset Management Inc. purchased a new position in Netflix in the 4th quarter worth approximately $222,000. Duncker Streett & Co. Inc. increased its stake in Netflix by 11.7% in the 4th quarter. Duncker Streett & Co. Inc. now owns 1,251 shares of the Internet television network's stock worth $1,115,000 after purchasing an additional 131 shares during the period. Finally, Mitchell Capital Management Co. purchased a new position in Netflix in the 4th quarter worth approximately $314,000. Institutional investors own 80.93% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on NFLX shares. Bank of America lifted their price objective on Netflix from $1,175.00 to $1,490.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. Loop Capital reiterated a "hold" rating on shares of Netflix in a research report on Monday, March 24th. Moffett Nathanson reissued a "buy" rating and set a $1,150.00 price target (up previously from $1,100.00) on shares of Netflix in a report on Friday, April 18th. Wells Fargo & Company increased their price target on Netflix from $1,222.00 to $1,500.00 and gave the company an "overweight" rating in a research note on Friday, June 20th. Finally, Phillip Securities raised Netflix from a "moderate sell" rating to a "hold" rating in a research note on Monday, April 21st. Eleven investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Netflix has an average rating of "Moderate Buy" and a consensus target price of $1,182.58.

Insiders Place Their Bets

In related news, CFO Spencer Adam Neumann sold 2,601 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $1,211.67, for a total value of $3,151,553.67. Following the sale, the chief financial officer directly owned 3,691 shares in the company, valued at $4,472,273.97. The trade was a 41.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ann Mather sold 1,090 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $1,250.00, for a total value of $1,362,500.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 157,319 shares of company stock worth $184,842,109. Company insiders own 1.37% of the company's stock.

Netflix Stock Down 1.1%

NASDAQ NFLX traded down $13.81 on Wednesday, hitting $1,279.79. 1,975,149 shares of the stock traded hands, compared to its average volume of 3,749,877. The stock has a 50-day moving average of $1,195.33 and a 200 day moving average of $1,029.66. Netflix, Inc. has a twelve month low of $587.04 and a twelve month high of $1,341.15. The company has a market capitalization of $544.64 billion, a P/E ratio of 60.53, a price-to-earnings-growth ratio of 2.59 and a beta of 1.59. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.58.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its quarterly earnings results 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. The firm had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.51 billion. Netflix had a return on equity of 39.61% and a net margin of 23.07%. During the same period last year, the company posted $8.28 EPS. As a group, analysts expect 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.