Ballentine Partners LLC Increases Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Ballentine Partners LLC increased its holdings in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 7.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,152 shares of the Internet television network's stock after acquiring an additional 519 shares during the quarter. Ballentine Partners LLC's holdings in Netflix were worth $6,670,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NFLX. Fullcircle Wealth LLC lifted its stake in Netflix by 2.5% during the 1st quarter. Fullcircle Wealth LLC now owns 369 shares of the Internet television network's stock worth $344,000 after acquiring an additional 9 shares in the last quarter. MRP Capital Investments LLC raised its position in Netflix by 1.0% in the 4th quarter. MRP Capital Investments LLC now owns 1,052 shares of the Internet television network's stock valued at $938,000 after purchasing an additional 10 shares in the last quarter. Bedell Frazier Investment Counselling LLC raised its position in Netflix by 2.2% in the 4th quarter. Bedell Frazier Investment Counselling LLC now owns 462 shares of the Internet television network's stock valued at $412,000 after purchasing an additional 10 shares in the last quarter. Mission Creek Capital Partners Inc. raised its position in Netflix by 0.3% in the 4th quarter. Mission Creek Capital Partners Inc. now owns 3,826 shares of the Internet television network's stock valued at $3,410,000 after purchasing an additional 10 shares in the last quarter. Finally, Continuum Wealth Advisors LLC raised its position in Netflix by 4.4% in the 1st quarter. Continuum Wealth Advisors LLC now owns 235 shares of the Internet television network's stock valued at $219,000 after purchasing an additional 10 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on NFLX shares. Bank of America increased their price target on Netflix from $1,175.00 to $1,490.00 and gave the company a "buy" rating in a research report on Friday, May 30th. Barclays reaffirmed a "sell" rating and issued a $1,100.00 price target (up previously from $1,000.00) on shares of Netflix in a research report on Wednesday. KeyCorp increased their price target on Netflix from $1,070.00 to $1,390.00 and gave the company an "overweight" rating in a research report on Thursday. Moffett Nathanson reaffirmed a "buy" rating and issued a $1,150.00 price target (up previously from $1,100.00) on shares of Netflix in a research report on Friday, April 18th. Finally, Robert W. Baird increased their price target on Netflix from $1,200.00 to $1,300.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $1,214.52.

Insiders Place Their Bets

In other news, CFO Spencer Adam Neumann sold 2,601 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $1,307.22, for a total value of $3,400,079.22. Following the completion of the sale, the chief financial officer directly owned 3,691 shares of the company's stock, valued at $4,824,949.02. This trade represents a 41.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jay C. Hoag sold 31,750 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $1,252.35, for a total value of $39,762,112.50. Following the completion of the sale, the director directly owned 63,040 shares of the company's stock, valued at $78,948,144. This represents a 33.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 186,723 shares of company stock worth $223,307,201. Corporate insiders own 1.37% of the company's stock.

Netflix Trading Down 0.4%

Shares of NFLX stock opened at $1,245.11 on Friday. The business's 50 day moving average is $1,221.70 and its two-hundred day moving average is $1,049.04. 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 $529.88 billion, a P/E ratio of 58.84, a price-to-earnings-growth ratio of 2.27 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 announced 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. Netflix had a return on equity of 39.61% and a net margin of 23.07%. The company had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.51 billion. During the same period last year, the business posted $8.28 EPS. Equities analysts forecast that Netflix, Inc. will post 24.58 EPS for the current year.

Netflix Company 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.

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