Congress Asset Management Co. Buys 2,607 Shares of Netflix, Inc. (NASDAQ:NFLX)

Congress Asset Management Co. grew its holdings in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 1.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 138,442 shares of the Internet television network's stock after purchasing an additional 2,607 shares during the quarter. Netflix comprises about 1.0% of Congress Asset Management Co.'s investment portfolio, making the stock its 28th largest position. Congress Asset Management Co.'s holdings in Netflix were worth $129,101,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Pathway Financial Advisers LLC boosted its stake in Netflix by 82.4% in the fourth 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 in the last quarter. Brown Shipley& Co Ltd acquired a new position in Netflix in the fourth quarter worth $27,000. Transce3nd LLC acquired a new position in Netflix in the fourth quarter worth $32,000. Pineridge Advisors LLC boosted its stake in Netflix by 4,000.0% in the fourth quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network's stock worth $37,000 after purchasing an additional 40 shares in the last quarter. Finally, Copia Wealth Management acquired a new position in Netflix in the fourth quarter worth $37,000. Institutional investors and hedge funds own 80.93% of the company's stock.

Insider Buying and Selling

In related news, CFO Spencer Adam Neumann sold 2,601 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $921.72, for a total transaction of $2,397,393.72. Following the completion of the transaction, the chief financial officer now directly owns 3,691 shares in the company, valued at approximately $3,402,068.52. This trade represents a 41.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Cletus R. Willems sold 298 shares of the stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $1,138.00, for a total value of $339,124.00. Following the transaction, the insider now owns 31,610 shares of the company's stock, valued at approximately $35,972,180. The trade was a 0.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 153,390 shares of company stock worth $170,509,439. 1.37% of the stock is owned by corporate insiders.

Netflix Stock Down 0.7%

Shares of Netflix stock opened at $1,241.47 on Friday. Netflix, Inc. has a 1 year low of $587.04 and a 1 year high of $1,262.81. The business has a 50-day moving average of $1,087.80 and a two-hundred day moving average of $987.81. The company 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 company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its quarterly earnings results 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. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The company had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $10.51 billion. During the same period in the prior year, the company earned $8.28 earnings per share. As a group, equities analysts predict that Netflix, Inc. will post 24.58 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have commented on NFLX. Guggenheim reissued a "buy" rating and issued a $1,150.00 price objective (up previously from $1,100.00) on shares of Netflix in a research note on Friday, April 18th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $1,220.00 price target (up previously from $1,150.00) on shares of Netflix in a research note on Monday, May 19th. Bank of America upped their price target on Netflix from $1,175.00 to $1,490.00 and gave the company a "buy" rating in a research note on Friday, May 30th. KeyCorp upped their price target on Netflix from $1,000.00 to $1,070.00 and gave the company an "overweight" rating in a research note on Monday, April 21st. Finally, BMO Capital Markets reaffirmed an "outperform" rating and set a $1,200.00 price target (up previously from $1,175.00) on shares of Netflix in a research note on Friday, April 18th. Eleven research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $1,149.91.

About Netflix

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.

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