Centre Asset Management LLC Makes New Investment in Netflix, Inc. (NASDAQ:NFLX)

Centre Asset Management LLC purchased a new stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 3,335 shares of the Internet television network's stock, valued at approximately $3,110,000.

A number of other hedge funds also recently made changes to their positions in NFLX. Capital & Planning LLC acquired a new position in Netflix during the fourth quarter worth $809,000. Brighton Jones LLC increased its position in shares of Netflix by 5.0% during the 4th quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network's stock worth $4,804,000 after purchasing an additional 257 shares in the last quarter. Union Bancaire Privee UBP SA bought a new position in Netflix during the 4th quarter valued at about $12,212,000. Revolve Wealth Partners LLC boosted its position in Netflix by 16.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network's stock valued at $912,000 after buying an additional 144 shares in the last quarter. Finally, BSW Wealth Partners boosted its position in Netflix by 6.5% in the fourth quarter. BSW Wealth Partners now owns 1,562 shares of the Internet television network's stock valued at $1,392,000 after buying an additional 96 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company's stock.

Netflix Stock Up 1.5%

Shares of NFLX traded up $17.26 on Friday, hitting $1,202.12. The company's stock had a trading volume of 4,686,095 shares, compared to its average volume of 3,758,842. The firm's fifty day moving average price is $1,055.18 and its 200-day moving average price is $971.66. Netflix, Inc. has a fifty-two week low of $587.04 and a fifty-two week high of $1,215.91. 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 firm has a market capitalization of $511.59 billion, a price-to-earnings ratio of 60.62, a P/E/G ratio of 2.12 and a beta of 1.58.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.74 by $0.87. The company 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 quarter in the prior year, the firm earned $8.28 earnings per share. On average, equities research analysts expect that Netflix, Inc. will post 24.58 EPS for the current year.

Insider Buying and Selling at Netflix

In other news, Director Ann Mather sold 1,358 shares of Netflix stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $1,150.00, for a total value of $1,561,700.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Spencer Adam Neumann sold 2,601 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $982.05, for a total transaction of $2,554,312.05. Following the transaction, the chief financial officer now owns 3,691 shares of the company's stock, valued at $3,624,746.55. The trade was a 41.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 133,348 shares of company stock valued at $139,087,908 in the last 90 days. 1.37% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on NFLX shares. Piper Sandler set a $1,150.00 target price on shares of Netflix and gave the company an "overweight" rating in a research note on Monday, April 21st. Citigroup reiterated a "neutral" rating and issued a $1,250.00 price objective (up previously from $1,020.00) on shares of Netflix in a research report on Thursday. Wedbush restated an "outperform" rating and set a $1,200.00 target price on shares of Netflix in a report on Monday, May 5th. Phillip Securities upgraded Netflix from a "moderate sell" rating to a "hold" rating in a research note on Monday, April 21st. Finally, Evercore ISI reiterated an "outperform" rating on shares of Netflix in a research report on Thursday, May 15th. 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. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $1,122.33.

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.