Crystal Rock Capital Management Boosts Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Crystal Rock Capital Management raised its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 203.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,350 shares of the Internet television network's stock after purchasing an additional 1,575 shares during the quarter. Netflix accounts for 1.5% of Crystal Rock Capital Management's portfolio, making the stock its 21st largest position. Crystal Rock Capital Management's holdings in Netflix were worth $2,191,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Halbert Hargrove Global Advisors LLC boosted its stake in shares of Netflix by 100.0% in the first quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock worth $25,000 after buying an additional 13 shares during the last quarter. Brown Shipley& Co Ltd acquired a new position in Netflix in the 4th quarter worth about $27,000. Transce3nd LLC acquired a new position in Netflix in the 4th quarter worth about $32,000. Copia Wealth Management acquired a new position in Netflix in the 4th quarter worth about $37,000. Finally, Barnes Dennig Private Wealth Management LLC acquired a new position in Netflix in the 1st quarter worth about $42,000. Hedge funds and other institutional investors own 80.93% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on NFLX. KeyCorp increased their target price on Netflix from $1,070.00 to $1,390.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Wolfe Research set a $1,340.00 price target on Netflix and gave the company an "outperform" rating in a report on Friday, May 16th. Evercore ISI reaffirmed an "outperform" rating on shares of Netflix in a report on Thursday, May 15th. JPMorgan Chase & Co. increased their price target on Netflix from $1,230.00 to $1,300.00 and gave the company a "neutral" rating in a report on Friday. Finally, TD Cowen increased their price target on Netflix from $1,440.00 to $1,450.00 and gave the company a "buy" rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $1,297.66.

Insider Buying and Selling at Netflix

In related news, Director Reed Hastings sold 26,977 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $1,133.05, for a total transaction of $30,566,289.85. Following the transaction, the director owned 394 shares in the company, valued at $446,421.70. This trade represents a 98.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Spencer Adam Neumann sold 2,601 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $1,132.38, for a total transaction of $2,945,320.38. Following the transaction, the chief financial officer owned 3,691 shares in the company, valued at $4,179,614.58. This represents a 41.34% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 186,563 shares of company stock worth $223,147,201. Insiders own 1.37% of the company's stock.

Netflix Stock Down 1.5%

NASDAQ:NFLX traded down $18.71 on Tuesday, reaching $1,214.56. The stock had a trading volume of 929,096 shares, compared to its average volume of 3,759,769. The company has a current ratio of 1.34, a quick ratio of 1.20 and a debt-to-equity ratio of 0.58. The company has a 50-day moving average of $1,232.59 and a 200 day moving average of $1,063.17. The stock has a market cap of $516.88 billion, a P/E ratio of 51.69, a price-to-earnings-growth ratio of 2.15 and a beta of 1.59. Netflix, Inc. has a 12-month low of $587.04 and a 12-month high of $1,341.15.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The Internet television network reported $7.19 earnings per share for the quarter, beating analysts' consensus estimates of $7.07 by $0.12. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The company had revenue of $11.08 billion during the quarter, compared to analysts' expectations of $11.04 billion. During the same period in the prior year, the company posted $4.88 EPS. The firm's revenue for the quarter was up 15.9% on a year-over-year basis. On average, research analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current year.

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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