BNC Wealth Management LLC Grows Position in Netflix, Inc. (NASDAQ:NFLX)

BNC Wealth Management LLC increased its holdings in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 6.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,449 shares of the Internet television network's stock after buying an additional 217 shares during the quarter. BNC Wealth Management LLC's holdings in Netflix were worth $3,216,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Pathway Financial Advisers LLC raised its position in shares of Netflix by 82.4% during the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network's stock valued at $27,000 after buying an additional 14 shares during the last quarter. Brown Shipley& Co Ltd bought a new stake in shares of Netflix during the fourth quarter valued at approximately $27,000. Transce3nd LLC bought a new stake in shares of Netflix during the fourth quarter valued at approximately $32,000. Copia Wealth Management bought a new stake in shares of Netflix during the fourth quarter valued at approximately $37,000. Finally, Stuart Chaussee & Associates Inc. raised its position in shares of Netflix by 4,500.0% during the fourth quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network's stock valued at $41,000 after buying an additional 45 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company's stock.

Insiders Place Their Bets

In related news, Director Jay C. Hoag sold 31,750 shares of the 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 transaction, the director now owns 63,040 shares in the company, valued at approximately $78,948,144. This represents a 33.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Reed Hastings sold 25,360 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $921.15, for a total transaction of $23,360,364.00. Following the completion of the transaction, the chairman now owns 394 shares in the company, valued at approximately $362,933.10. This trade represents a 98.47% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 185,140 shares of company stock worth $210,271,552. 1.37% of the stock is owned by corporate insiders.

Netflix Stock Down 0.2%

Shares of NFLX stock traded down $2.88 on Friday, hitting $1,212.15. The stock had a trading volume of 2,209,188 shares, compared to its average volume of 3,763,914. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. The business has a 50 day moving average price of $1,120.37 and a 200 day moving average price of $999.25. The company has a market cap of $515.86 billion, a PE ratio of 61.13, a P/E/G ratio of 2.12 and a beta of 1.59. Netflix, Inc. has a one year low of $587.04 and a one year high of $1,262.81.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its earnings results on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, topping analysts' consensus estimates of $5.74 by $0.87. The business had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $10.51 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. During the same period in the previous year, the company posted $8.28 earnings per share. Research analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NFLX. Moffett Nathanson reissued a "buy" rating and issued a $1,150.00 target price (up from $1,100.00) on shares of Netflix in a report on Friday, April 18th. Jefferies Financial Group raised their target price on shares of Netflix from $1,200.00 to $1,400.00 and gave the company a "buy" rating in a report on Tuesday, June 3rd. Oppenheimer raised their target price on shares of Netflix from $1,200.00 to $1,425.00 and gave the company an "outperform" rating in a report on Thursday. Phillip Securities raised shares of Netflix from a "moderate sell" rating to a "hold" rating in a report on Monday, April 21st. Finally, Loop Capital reissued a "hold" rating on shares of Netflix in a report on Monday, March 24th. Eleven investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $1,156.73.

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.