Cerity Partners LLC Has $102.74 Million Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Cerity Partners LLC raised its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 32.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 110,176 shares of the Internet television network's stock after purchasing an additional 27,125 shares during the quarter. Cerity Partners LLC's holdings in Netflix were worth $102,743,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Phillips Financial Management LLC increased its position in Netflix by 8.2% during the first quarter. Phillips Financial Management LLC now owns 358 shares of the Internet television network's stock worth $334,000 after acquiring an additional 27 shares during the period. Correct Capital Wealth Management bought a new stake in shares of Netflix in the first quarter valued at approximately $435,000. Telos Capital Management Inc. grew its position in Netflix by 103.1% during the first quarter. Telos Capital Management Inc. now owns 3,592 shares of the Internet television network's stock worth $3,350,000 after buying an additional 1,823 shares in the last quarter. Financial Gravity Asset Management Inc. bought a new position in Netflix during the 1st quarter worth $3,422,000. Finally, Alps Advisors Inc. raised its holdings in Netflix by 0.5% in the 1st quarter. Alps Advisors Inc. now owns 4,078 shares of the Internet television network's stock valued at $3,803,000 after acquiring an additional 20 shares in the last quarter. 80.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on NFLX shares. Benchmark restated a "hold" rating on shares of Netflix in a research report on Monday, April 21st. JPMorgan Chase & Co. raised their target price on shares of Netflix from $1,220.00 to $1,230.00 and gave the company a "neutral" rating in a report on Friday. Barclays restated a "sell" rating and issued a $1,100.00 target price (up from $1,000.00) on shares of Netflix in a research report on Wednesday. FBN Securities started coverage on shares of Netflix in a research note on Thursday, March 27th. They issued an "outperform" rating and a $1,165.00 price objective on the stock. Finally, KeyCorp upped their target price on Netflix from $1,070.00 to $1,390.00 and gave the stock an "overweight" rating in a research note on Thursday. One analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $1,214.52.

Netflix Trading Down 0.4%

Shares of NASDAQ:NFLX traded down $5.48 during trading on Friday, reaching $1,245.11. The stock had a trading volume of 3,948,915 shares, compared to its average volume of 3,766,443. Netflix, Inc. has a 52 week low of $587.04 and a 52 week high of $1,341.15. 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 firm's fifty day moving average is $1,219.93 and its 200 day moving average is $1,046.88. The stock has a market cap of $529.88 billion, a price-to-earnings ratio of 58.84, a P/E/G ratio of 2.27 and a beta of 1.59.

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 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 net margin of 23.07% and a return on equity of 39.61%. During the same quarter in the prior year, the firm posted $8.28 earnings per share. As a group, equities analysts forecast that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Jeffrey William Karbowski sold 620 shares of Netflix stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $1,286.84, for a total value of $797,840.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Strive Masiyiwa sold 290 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $1,336.54, for a total transaction of $387,596.60. The disclosure for this sale can be found here. Insiders sold a total of 186,723 shares of company stock valued at $223,307,201 in the last 90 days. Company insiders own 1.37% of the company's stock.

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.