Birinyi Associates Inc. Purchases 2,143 Shares of Netflix, Inc. (NASDAQ:NFLX)

Birinyi Associates Inc. raised its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 389.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,693 shares of the Internet television network's stock after acquiring an additional 2,143 shares during the quarter. Netflix makes up about 0.8% of Birinyi Associates Inc.'s investment portfolio, making the stock its 19th largest holding. Birinyi Associates Inc.'s holdings in Netflix were worth $2,512,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Janus Henderson Group PLC lifted its position in Netflix by 8.7% during the fourth quarter. Janus Henderson Group PLC now owns 1,377,081 shares of the Internet television network's stock valued at $1,227,468,000 after buying an additional 110,432 shares during the period. PharVision Advisers LLC purchased a new stake in Netflix during the 4th quarter valued at $873,000. New England Research & Management Inc. lifted its position in shares of Netflix by 148.5% during the first quarter. New England Research & Management Inc. now owns 2,122 shares of the Internet television network's stock worth $1,979,000 after purchasing an additional 1,268 shares during the last quarter. Xcel Wealth Management LLC lifted its stake in shares of Netflix by 15.2% during the 1st quarter. Xcel Wealth Management LLC now owns 492 shares of the Internet television network's stock worth $459,000 after purchasing an additional 65 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Netflix by 6.1% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 54,638 shares of the Internet television network's stock valued at $50,952,000 after buying an additional 3,137 shares during the last quarter. 80.93% of the stock is owned by institutional investors.

Netflix Stock Up 1.8%

Shares of NFLX traded up $22.26 during mid-day trading on Monday, reaching $1,231.50. The company's stock had a trading volume of 3,988,343 shares, compared to its average volume of 3,764,112. The company has a quick ratio of 1.20, a current ratio of 1.34 and a debt-to-equity ratio of 0.58. The company has a market cap of $524.09 billion, a price-to-earnings ratio of 52.48, a price-to-earnings-growth ratio of 2.15 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 business has a fifty day moving average of $1,232.59 and a 200 day moving average of $1,063.17.

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

Insider Buying and Selling

In other Netflix news, CFO Spencer Adam Neumann sold 2,601 shares of Netflix stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $1,211.67, for a total value of $3,151,553.67. Following the sale, the chief financial officer owned 3,691 shares of the company's stock, valued at $4,472,273.97. This trade represents a 41.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Bradford L. Smith sold 3,919 shares of the business's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $1,124.26, for a total value of $4,405,974.94. Following the completion of the sale, the director owned 7,969 shares of the company's stock, valued at approximately $8,959,227.94. This trade represents a 32.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 186,563 shares of company stock worth $223,147,201. Company insiders own 1.37% of the company's stock.

Analysts Set New Price Targets

NFLX has been the subject of several analyst reports. Oppenheimer upped their price objective on Netflix from $1,200.00 to $1,425.00 and gave the company an "outperform" rating in a research note on Thursday, June 12th. Morgan Stanley reaffirmed an "equal weight" rating on shares of Netflix in a report on Monday. Citigroup reaffirmed a "neutral" rating and set a $1,250.00 target price (up from $1,020.00) on shares of Netflix in a research report on Thursday, May 29th. Wedbush restated an "outperform" rating and set a $1,500.00 target price (up previously from $1,400.00) on shares of Netflix in a research note on Monday, July 14th. Finally, Macquarie boosted their target price on Netflix from $1,150.00 to $1,200.00 and gave the company an "outperform" rating in a research note on Monday, April 21st. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $1,297.66.

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.