Avantax Planning Partners Inc. Raises Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Avantax Planning Partners Inc. lifted its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 14.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,513 shares of the Internet television network's stock after acquiring an additional 195 shares during the quarter. Avantax Planning Partners Inc.'s holdings in Netflix were worth $1,411,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in NFLX. Halbert Hargrove Global Advisors LLC lifted its holdings in shares of Netflix by 100.0% in the 1st 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 during the last quarter. Brown Shipley& Co Ltd bought a new stake in shares of Netflix in the 4th quarter worth about $27,000. Transce3nd LLC bought a new stake in shares of Netflix in the 4th quarter worth about $32,000. Copia Wealth Management bought a new stake in shares of Netflix in the 4th quarter worth about $37,000. Finally, Stuart Chaussee & Associates Inc. lifted its holdings in shares of Netflix by 4,500.0% in the 4th quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network's stock worth $41,000 after acquiring an additional 45 shares during the last quarter. Institutional investors own 80.93% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on NFLX. Benchmark restated a "hold" rating on shares of Netflix in a report on Monday, April 21st. Loop Capital restated a "hold" rating on shares of Netflix in a report on Monday, March 24th. BMO Capital Markets reiterated an "outperform" rating and set a $1,200.00 price objective (up previously from $1,175.00) on shares of Netflix in a report on Friday, April 18th. Bank of America lifted their price objective on shares of Netflix from $1,175.00 to $1,490.00 and gave the company a "buy" rating in a report on Friday, May 30th. Finally, Wells Fargo & Company lifted their price objective on shares of Netflix from $1,222.00 to $1,500.00 and gave the company an "overweight" rating in a report on Friday, June 20th. Eleven investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Netflix presently has a consensus rating of "Moderate Buy" and an average target price of $1,182.58.

Insider Transactions at Netflix

In related news, Director Reed Hastings sold 9,673 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $1,329.11, for a total value of $12,856,481.03. Following the sale, the director owned 394 shares of the company's stock, valued at $523,669.34. This trade represents a 96.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Jeffrey William Karbowski sold 620 shares of the firm's stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $1,286.84, for a total transaction of $797,840.80. The disclosure for this sale can be found here. Insiders have sold 186,723 shares of company stock valued at $223,307,201 over the last quarter. Insiders own 1.37% of the company's stock.

Netflix Stock Up 0.8%

NASDAQ:NFLX traded up $10.38 during mid-day trading on Friday, hitting $1,295.24. The stock had a trading volume of 2,006,224 shares, compared to its average volume of 3,766,089. The stock has a 50-day simple moving average of $1,207.87 and a two-hundred day simple moving average of $1,037.61. The company has a market capitalization of $551.21 billion, a PE ratio of 61.21, a PEG ratio of 2.35 and a beta of 1.59. Netflix, Inc. has a twelve month low of $587.04 and a twelve month high of $1,341.15. 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 earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, beating the consensus estimate of $5.74 by $0.87. The firm had revenue of $10.54 billion for the quarter, compared to analysts' expectations of $10.51 billion. Netflix had a net margin of 23.07% and a return on equity of 39.61%. During the same quarter last year, the company earned $8.28 earnings per share. On average, equities research analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current 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.