Cahaba Wealth Management Inc. Makes New Investment in Netflix, Inc. (NASDAQ:NFLX)

Cahaba Wealth Management Inc. purchased a new position in Netflix, Inc. (NASDAQ:NFLX - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 217 shares of the Internet television network's stock, valued at approximately $202,000.

A number of other institutional investors also recently modified their holdings of the company. Fullcircle Wealth LLC grew its holdings in Netflix by 2.5% during the first quarter. Fullcircle Wealth LLC now owns 369 shares of the Internet television network's stock valued at $344,000 after purchasing an additional 9 shares during the period. MRP Capital Investments LLC grew its stake in shares of Netflix by 1.0% during the 4th quarter. MRP Capital Investments LLC now owns 1,052 shares of the Internet television network's stock valued at $938,000 after acquiring an additional 10 shares during the period. Bedell Frazier Investment Counselling LLC grew its stake in shares of Netflix by 2.2% during the 4th quarter. Bedell Frazier Investment Counselling LLC now owns 462 shares of the Internet television network's stock valued at $412,000 after acquiring an additional 10 shares during the period. Mission Creek Capital Partners Inc. increased its holdings in Netflix by 0.3% in the 4th quarter. Mission Creek Capital Partners Inc. now owns 3,826 shares of the Internet television network's stock worth $3,410,000 after acquiring an additional 10 shares in the last quarter. Finally, Continuum Wealth Advisors LLC raised its stake in Netflix by 4.4% during the 1st quarter. Continuum Wealth Advisors LLC now owns 235 shares of the Internet television network's stock worth $219,000 after acquiring an additional 10 shares during the period. 80.93% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

NFLX has been the subject of a number of analyst reports. Macquarie increased their price objective on shares of Netflix from $1,150.00 to $1,200.00 and gave the stock an "outperform" rating in a research note on Monday, April 21st. Seaport Res Ptn lowered Netflix from a "strong-buy" rating to a "hold" rating in a research note on Sunday, July 6th. Cfra Research raised Netflix to a "strong-buy" rating in a report on Monday, April 28th. Oppenheimer upped their price objective on Netflix from $1,200.00 to $1,425.00 and gave the stock an "outperform" rating in a research note on Thursday, June 12th. Finally, UBS Group increased their target price on Netflix from $1,150.00 to $1,450.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $1,214.52.

Netflix Trading Down 0.4%

NFLX stock traded down $5.48 during mid-day trading on Friday, reaching $1,245.11. 3,948,915 shares of the stock traded hands, compared to its average volume of 3,768,095. Netflix, Inc. has a one year low of $587.04 and a one year high of $1,341.15. The stock has a market capitalization of $529.88 billion, a PE ratio of 58.84, a PEG ratio of 2.26 and a beta of 1.59. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.20 and a current ratio of 1.20. The business has a 50-day moving average price of $1,221.70 and a two-hundred day moving average price of $1,049.85.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, beating the consensus estimate of $5.74 by $0.87. Netflix had a net margin of 23.07% and a return on equity of 39.61%. The company had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.51 billion. During the same period in the prior year, the firm posted $8.28 EPS. Equities research analysts expect that Netflix, Inc. will post 24.58 EPS for the current year.

Insider Transactions at Netflix

In other Netflix news, CFO Spencer Adam Neumann sold 2,601 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $1,307.22, for a total value of $3,400,079.22. Following the sale, the chief financial officer owned 3,691 shares in the company, valued at $4,824,949.02. This trade represents a 41.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Strive Masiyiwa sold 290 shares of Netflix stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $1,336.54, for a total value of $387,596.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 186,723 shares of company stock valued at $223,307,201. Company insiders own 1.37% of the company's stock.

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.