Netflix, Inc. (NASDAQ:NFLX) Stock Holdings Increased by Banque Pictet & Cie SA

Banque Pictet & Cie SA raised its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 7.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,206 shares of the Internet television network's stock after acquiring an additional 1,924 shares during the quarter. Banque Pictet & Cie SA's holdings in Netflix were worth $26,303,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in NFLX. Brighton Jones LLC raised its holdings in shares of Netflix by 5.0% in the fourth quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network's stock worth $4,804,000 after acquiring an additional 257 shares during the last quarter. Revolve Wealth Partners LLC grew its position in shares of Netflix by 16.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network's stock valued at $912,000 after purchasing an additional 144 shares during the period. BIP Wealth LLC grew its position in shares of Netflix by 23.8% in the fourth quarter. BIP Wealth LLC now owns 453 shares of the Internet television network's stock valued at $403,000 after purchasing an additional 87 shares during the period. Proficio Capital Partners LLC grew its position in shares of Netflix by 39.1% in the fourth quarter. Proficio Capital Partners LLC now owns 2,161 shares of the Internet television network's stock valued at $1,926,000 after purchasing an additional 607 shares during the period. Finally, Moran Wealth Management LLC grew its position in shares of Netflix by 6.9% in the fourth quarter. Moran Wealth Management LLC now owns 2,851 shares of the Internet television network's stock valued at $2,541,000 after purchasing an additional 185 shares during the period. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Stock Down 0.4%

Shares of NFLX traded down $5.48 during midday trading on Friday, reaching $1,245.11. 3,948,915 shares of the company were exchanged, compared to its average volume of 3,766,443. The stock has a 50-day moving average price of $1,221.70 and a 200-day moving average price of $1,049.04. The company has a market cap of $529.88 billion, a price-to-earnings ratio of 58.84, a P/E/G ratio of 2.27 and a beta of 1.59. Netflix, Inc. has a 1-year low of $587.04 and a 1-year 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 released its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, topping 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 business had revenue of $10.54 billion for the quarter, compared to analysts' expectations of $10.51 billion. During the same quarter in the previous year, the firm posted $8.28 earnings per share. Research analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on NFLX shares. Morgan Stanley lifted their price objective on Netflix from $1,150.00 to $1,200.00 and gave the company an "overweight" rating in a research report on Monday, April 21st. JPMorgan Chase & Co. lifted their price objective on Netflix from $1,220.00 to $1,230.00 and gave the company a "neutral" rating in a research report on Friday. UBS Group lifted their price objective on Netflix from $1,150.00 to $1,450.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Robert W. Baird lifted their price objective 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. Finally, Benchmark reaffirmed a "hold" rating on shares of Netflix in a research report on Monday, April 21st. One analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,214.52.

Insiders Place Their Bets

In related news, Director Reed Hastings sold 26,977 shares of the business's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $1,133.05, for a total value of $30,566,289.85. Following the completion of the sale, the director directly owned 394 shares of the company's stock, valued at $446,421.70. The trade was a 98.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Spencer Adam Neumann sold 2,601 shares of the business's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $1,132.38, for a total value of $2,945,320.38. Following the completion of the sale, the chief financial officer directly owned 3,691 shares of the company's stock, valued at approximately $4,179,614.58. This represents a 41.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 186,723 shares of company stock worth $223,307,201. 1.37% of the stock is owned by insiders.

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.