Chesley Taft & Associates LLC Has $9.45 Million Stake in Netflix, Inc. (NASDAQ:NFLX)

Chesley Taft & Associates LLC raised its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 7.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,132 shares of the Internet television network's stock after buying an additional 677 shares during the period. Chesley Taft & Associates LLC's holdings in Netflix were worth $9,448,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Pathway Financial Advisers LLC grew its holdings 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 worth $27,000 after buying an additional 14 shares in the last quarter. Brown Shipley& Co Ltd purchased a new position in Netflix during the fourth quarter worth about $27,000. Transce3nd LLC acquired a new stake in shares of Netflix during the fourth quarter valued at about $32,000. Pineridge Advisors LLC raised its stake in shares of Netflix by 4,000.0% in the 4th quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network's stock valued at $37,000 after acquiring an additional 40 shares during the period. Finally, Copia Wealth Management acquired a new position in shares of Netflix in the 4th quarter worth approximately $37,000. Institutional investors and hedge funds own 80.93% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Rosenblatt Securities raised their price target on Netflix from $1,494.00 to $1,514.00 and gave the stock a "buy" rating in a research report on Monday, April 21st. Barclays upped their target price on shares of Netflix from $900.00 to $1,000.00 and gave the stock an "equal weight" rating in a research note on Monday, April 21st. Citigroup restated a "neutral" rating and set a $1,250.00 target price (up from $1,020.00) on shares of Netflix in a research note on Thursday, May 29th. Needham & Company LLC reaffirmed a "buy" rating and set a $1,126.00 price target on shares of Netflix in a report on Thursday, April 17th. Finally, Cfra Research upgraded Netflix to a "strong-buy" rating in a report on Monday, April 28th. Eleven investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $1,149.91.

Insiders Place Their Bets

In related news, CAO Jeffrey William Karbowski sold 480 shares of the business's stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $978.18, for a total value of $469,526.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Reed Hastings sold 25,360 shares of the company's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $921.15, for a total value of $23,360,364.00. Following the sale, the chairman now owns 394 shares of the company's stock, 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. Insiders sold a total of 153,390 shares of company stock worth $170,509,439 over the last ninety days. 1.37% of the stock is currently owned by company insiders.

Netflix Stock Performance

Shares of NFLX traded down $9.05 during mid-day trading on Friday, reaching $1,241.47. 2,554,452 shares of the company's stock traded hands, compared to its average volume of 3,744,913. Netflix, Inc. has a 12 month low of $587.04 and a 12 month high of $1,262.81. The stock has a market capitalization of $528.33 billion, a P/E ratio of 62.61, a price-to-earnings-growth ratio of 2.12 and a beta of 1.59. The business's 50-day moving average price is $1,081.54 and its 200-day moving average price is $985.25. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, beating the consensus estimate of $5.74 by $0.87. The business had revenue of $10.54 billion during 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 quarter last year, the business posted $8.28 earnings per share. Equities analysts predict 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.