Avantax Advisory Services Inc. Acquires 1,185 Shares of Netflix, Inc. (NASDAQ:NFLX)

Avantax Advisory Services Inc. boosted its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 4.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 25,287 shares of the Internet television network's stock after acquiring an additional 1,185 shares during the quarter. Avantax Advisory Services Inc.'s holdings in Netflix were worth $23,580,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in NFLX. Halbert Hargrove Global Advisors LLC lifted its position in Netflix by 100.0% during the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock valued at $25,000 after purchasing an additional 13 shares during the period. Brown Shipley& Co Ltd acquired a new position in Netflix during the 4th quarter valued at about $27,000. Transce3nd LLC acquired a new position in Netflix during the 4th quarter valued at about $32,000. Copia Wealth Management acquired a new position in Netflix during the 4th quarter valued at about $37,000. Finally, Stuart Chaussee & Associates Inc. lifted its position in Netflix by 4,500.0% during the 4th quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network's stock valued at $41,000 after purchasing an additional 45 shares during the period. Institutional investors own 80.93% of the company's stock.

Insiders Place Their Bets

In related news, Director Reed Hastings sold 9,673 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $1,329.11, for a total value of $12,856,481.03. Following the sale, the director directly owned 394 shares in the company, valued at $523,669.34. This represents a 96.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Ann Mather sold 1,090 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The shares were 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. Insiders sold a total of 185,923 shares of company stock valued at $222,445,095 over the last three months. Insiders own 1.37% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on NFLX shares. TD Cowen upped their target price on shares of Netflix from $1,440.00 to $1,450.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Citigroup restated a "neutral" rating and set a $1,250.00 target price (up from $1,020.00) on shares of Netflix in a report on Thursday, May 29th. Canaccord Genuity Group reiterated a "buy" rating on shares of Netflix in a report on Thursday, July 10th. FBN Securities began coverage on shares of Netflix in a report on Thursday, March 27th. They issued an "outperform" rating and a $1,165.00 price objective on the stock. Finally, Benchmark reissued a "hold" rating on shares of Netflix in a research note on Monday, April 21st. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $1,297.66.

Netflix Trading Down 0.0%

Shares of Netflix stock traded down $0.27 on Friday, hitting $1,180.49. The stock had a trading volume of 2,624,404 shares, compared to its average volume of 3,928,007. The stock has a 50 day moving average of $1,236.44 and a 200 day moving average of $1,071.39. Netflix, Inc. has a twelve month low of $587.04 and a twelve month high of $1,341.15. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.20 and a current ratio of 1.34. The firm 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 released its quarterly earnings data on Thursday, July 17th. The Internet television network reported $7.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.07 by $0.12. Netflix had a return on equity of 42.50% and a net margin of 24.58%. The company had revenue of $11.08 billion during the quarter, compared to the consensus estimate of $11.04 billion. During the same quarter in the prior year, the firm posted $4.88 earnings per share. The firm's revenue was up 15.9% compared to the same quarter last year. Sell-side analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Netflix 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.