Baker Avenue Asset Management LP lifted its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 94.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 20,879 shares of the Internet television network's stock after purchasing an additional 10,166 shares during the period. Baker Avenue Asset Management LP's holdings in Netflix were worth $19,470,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of NFLX. Halbert Hargrove Global Advisors LLC lifted its holdings in Netflix by 100.0% during the first quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock worth $25,000 after buying an additional 13 shares during the period. Brown Shipley& Co Ltd purchased a new stake in shares of Netflix during the 4th quarter valued at $27,000. Transce3nd LLC purchased a new stake in shares of Netflix during the 4th quarter valued at $32,000. Copia Wealth Management purchased a new stake in shares of Netflix during the 4th quarter valued at $37,000. Finally, Stuart Chaussee & Associates Inc. lifted its holdings in shares of 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 last quarter. Hedge funds and other institutional investors own 80.93% of the company's stock.
Netflix Stock Performance
NASDAQ NFLX traded down $0.80 during trading hours on Friday, hitting $1,158.60. The company had a trading volume of 3,886,745 shares, compared to its average volume of 3,831,108. 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 1-year low of $587.04 and a 1-year high of $1,341.15. The company has a market cap of $492.32 billion, a PE ratio of 49.37, a price-to-earnings-growth ratio of 1.95 and a beta of 1.59. The business has a 50 day moving average of $1,234.32 and a 200-day moving average of $1,082.35.
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 net margin of 24.58% and a return on equity of 42.50%. 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. Netflix's revenue for the quarter was up 15.9% on a year-over-year basis. As a group, equities research analysts expect that Netflix, Inc. will post 24.58 EPS for the current year.
Analyst Ratings Changes
Several brokerages have recently commented on NFLX. Barclays reiterated a "sell" rating and set a $1,100.00 price objective (up previously from $1,000.00) on shares of Netflix in a report on Wednesday, July 9th. Wolfe Research set a $1,340.00 target price on Netflix and gave the stock an "outperform" rating in a research note on Friday, May 16th. The Goldman Sachs Group lifted their price objective on Netflix from $1,000.00 to $1,140.00 and gave the company a "neutral" rating in a research note on Wednesday, July 2nd. KeyCorp lifted their price objective on Netflix from $1,070.00 to $1,390.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Finally, Wedbush restated an "outperform" rating and set a $1,500.00 target price (up from $1,400.00) on shares of Netflix in a research report on Monday, July 14th. Three analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $1,297.66.
Check Out Our Latest Analysis on Netflix
Insider Buying and Selling at Netflix
In related news, Director Strive Masiyiwa sold 290 shares of the firm's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $1,336.54, for a total value of $387,596.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jay C. Hoag sold 31,750 shares of the firm's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $1,252.35, for a total transaction of $39,762,112.50. Following the completion of the sale, the director owned 63,040 shares of the company's stock, valued at approximately $78,948,144. The trade was a 33.50% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 123,830 shares of company stock valued at $153,102,930. Corporate insiders own 1.37% of the company's stock.
Netflix Company Profile
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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.
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