BTC Capital Management Inc. Acquires New Shares in Netflix, Inc. (NASDAQ:NFLX)

BTC Capital Management Inc. bought a new position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm bought 561 shares of the Internet television network's stock, valued at approximately $523,000.

A number of other large investors also recently bought and sold shares of NFLX. Pathway Financial Advisers LLC raised its position in shares of Netflix by 82.4% during the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network's stock worth $27,000 after purchasing an additional 14 shares during the period. Brown Shipley& Co Ltd acquired a new stake in shares of Netflix during the 4th quarter worth approximately $27,000. Transce3nd LLC acquired a new stake in shares of Netflix during the 4th quarter worth approximately $32,000. Newton One Investments LLC acquired a new stake in shares of Netflix during the 4th quarter worth approximately $34,000. Finally, Pineridge Advisors LLC raised its position in shares of Netflix by 4,000.0% during the 4th quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network's stock worth $37,000 after purchasing an additional 40 shares during the period. Institutional investors own 80.93% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Citigroup restated a "neutral" rating and issued a $1,250.00 target price (up from $1,020.00) on shares of Netflix in a research report on Thursday. Benchmark restated a "hold" rating on shares of Netflix in a research report on Monday, April 21st. Robert W. Baird raised their target price 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. Loop Capital restated a "hold" rating on shares of Netflix in a research report on Monday, March 24th. Finally, Oppenheimer restated an "outperform" rating and issued a $1,200.00 target price (up from $1,150.00) on shares of Netflix in a research report on Friday, April 18th. Eleven equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $1,122.33.

Insider Transactions at Netflix

In other news, CFO Spencer Adam Neumann sold 2,601 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $982.05, for a total value of $2,554,312.05. Following the completion of the sale, the chief financial officer now owns 3,691 shares of the company's stock, valued at $3,624,746.55. This trade represents a 41.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Reed Hastings sold 30,485 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $981.92, for a total value of $29,933,831.20. Following the completion of the sale, the chairman now directly owns 394 shares of the company's stock, valued at approximately $386,876.48. This trade represents a 98.72% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 133,348 shares of company stock valued at $139,087,908 over the last quarter. Company insiders own 1.37% of the company's stock.

Netflix Price Performance

Shares of NASDAQ NFLX traded up $17.26 during mid-day trading on Friday, reaching $1,202.12. The company had a trading volume of 4,686,095 shares, compared to its average volume of 3,757,419. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. The stock has a market cap of $511.59 billion, a PE ratio of 60.62, a P/E/G ratio of 2.12 and a beta of 1.58. The company has a 50-day moving average price of $1,059.27 and a two-hundred day moving average price of $975.30. Netflix, Inc. has a 1-year low of $587.04 and a 1-year high of $1,215.91.

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