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Azimuth Capital Investment Management LLC Has $28.39 Million Stake in Netflix, Inc. (NASDAQ:NFLX)

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Key Points

  • Azimuth Capital Investment Management LLC increased its stake in Netflix, Inc. by 97.3% during the first quarter, owning 30,442 shares valued at approximately $28.39 million, which constitutes 1.1% of its portfolio.
  • In the last quarter, several hedge funds adjusted their positions in Netflix, indicating strong institutional interest where institutional investors own 80.93% of the company's stock.
  • Netflix's stock opened at $1,204.44, with a market capitalization of $511.80 billion, posting earnings per share of $7.19 for the last quarter, surpassing analyst expectations.
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Azimuth Capital Investment Management LLC increased its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 97.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 30,442 shares of the Internet television network's stock after buying an additional 15,013 shares during the period. Netflix accounts for 1.1% of Azimuth Capital Investment Management LLC's portfolio, making the stock its 18th largest holding. Azimuth Capital Investment Management LLC's holdings in Netflix were worth $28,388,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its holdings in Netflix by 5.0% during the fourth quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network's stock valued at $4,804,000 after purchasing an additional 257 shares during the last quarter. Revolve Wealth Partners LLC lifted its position in Netflix by 16.4% in the fourth 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. BIP Wealth LLC lifted its position in Netflix by 23.8% in the fourth quarter. BIP Wealth LLC now owns 453 shares of the Internet television network's stock worth $403,000 after purchasing an additional 87 shares during the period. Acorns Advisers LLC lifted its position in Netflix by 3.9% in the fourth quarter. Acorns Advisers LLC now owns 583 shares of the Internet television network's stock worth $520,000 after purchasing an additional 22 shares during the period. Finally, Stenger Family Office LLC bought a new position in Netflix in the fourth quarter worth $3,897,000. Institutional investors and hedge funds own 80.93% of the company's stock.

Insider Transactions at Netflix

In other Netflix news, insider Cletus R. Willems sold 238 shares of the company's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $1,153.52, for a total value of $274,537.76. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider David A. Hyman sold 424 shares of the company's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $1,158.67, for a total value of $491,276.08. Following the sale, the insider owned 31,610 shares in the company, valued at approximately $36,625,558.70. The trade was a 1.32% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 146,307 shares of company stock worth $179,443,809. 1.37% of the stock is currently owned by insiders.

Netflix Price Performance

NFLX stock opened at $1,204.44 on Thursday. The company has a market capitalization of $511.80 billion, a P/E ratio of 51.32, a PEG ratio of 2.06 and a beta of 1.59. The company has a fifty day moving average price of $1,231.68 and a 200-day moving average price of $1,098.52. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.34 and a current ratio of 1.34. Netflix, Inc. has a 52-week low of $648.70 and a 52-week high of $1,341.15.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share (EPS) for the quarter, topping 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 business had revenue of $11.08 billion during the quarter, compared to analyst estimates of $11.04 billion. During the same period last year, the company earned $4.88 EPS. Netflix's revenue for the quarter was up 15.9% compared to the same quarter last year. As a group, equities analysts expect that Netflix, Inc. will post 24.58 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on NFLX shares. Robert W. Baird raised their target price on Netflix from $1,300.00 to $1,500.00 and gave the stock an "outperform" rating in a research report on Monday, July 21st. Guggenheim reaffirmed a "buy" rating and issued a $1,150.00 target price (up from $1,100.00) on shares of Netflix in a research report on Friday, April 18th. Barclays reaffirmed a "sell" rating and issued a $1,100.00 target price (up from $1,000.00) on shares of Netflix in a research report on Wednesday, July 9th. Sanford C. Bernstein boosted their target price on shares of Netflix from $1,200.00 to $1,390.00 and gave the company an "outperform" rating in a research note on Thursday, July 17th. Finally, Macquarie boosted their target price on shares of Netflix from $1,150.00 to $1,200.00 and gave the company an "outperform" rating in a research note on Monday, April 21st. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,297.66.

Check Out Our Latest Analysis on NFLX

About Netflix

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Netflix (NASDAQ:NFLX)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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