Banque Pictet & Cie SA Purchases 1,924 Shares of Netflix, Inc. (NASDAQ:NFLX)

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

Several other hedge funds and other institutional investors have also modified their holdings of the business. Halbert Hargrove Global Advisors LLC grew its stake in shares of Netflix by 100.0% in the first quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock worth $25,000 after purchasing an additional 13 shares in the last quarter. Brown Shipley& Co Ltd bought a new position in Netflix in the 4th quarter valued at about $27,000. Transce3nd LLC acquired a new position in Netflix during the 4th quarter valued at about $32,000. Copia Wealth Management bought a new stake in shares of Netflix during the 4th quarter worth about $37,000. Finally, Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Netflix during the 1st quarter worth about $42,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on NFLX. 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 note on Friday, May 30th. Evercore ISI reissued an "outperform" rating on shares of Netflix in a research note on Thursday, May 15th. Macquarie increased their target price on Netflix from $1,150.00 to $1,200.00 and gave the company an "outperform" rating in a report on Monday, April 21st. Wolfe Research set a $1,340.00 target price on Netflix and gave the company an "outperform" rating in a report on Friday, May 16th. Finally, Wedbush restated an "outperform" rating and issued a $1,200.00 target price on shares of Netflix in a report on Monday, May 5th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $1,185.61.

Netflix Stock Performance

Shares of Netflix stock traded up $12.97 during midday trading on Wednesday, hitting $1,288.28. The company had a trading volume of 2,380,931 shares, compared to its average volume of 3,760,058. The business's 50 day simple moving average is $1,214.45 and its two-hundred day simple moving average is $1,042.85. The stock has a market cap of $548.25 billion, a PE ratio of 60.88, a P/E/G ratio of 2.34 and a beta of 1.59. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.20 and a quick ratio of 1.20. Netflix, Inc. has a 1-year low of $587.04 and a 1-year high of $1,341.15.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) 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 firm had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.51 billion. During the same period in the previous year, the company posted $8.28 earnings per share. As a group, equities analysts predict that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Insider Buying and Selling

In other Netflix news, Director Ann Mather sold 1,090 shares of the firm's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $1,250.00, for a total transaction of $1,362,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Reed Hastings sold 9,673 shares of the firm's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $1,329.11, for a total transaction of $12,856,481.03. Following the transaction, the director owned 394 shares of the company's stock, valued at approximately $523,669.34. This represents a 96.09% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 186,723 shares of company stock worth $223,307,201. 1.37% of the stock is currently owned by corporate insiders.

Netflix 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.