DAVENPORT & Co LLC Purchases 1,660 Shares of Netflix, Inc. (NASDAQ:NFLX)

DAVENPORT & Co LLC increased its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 13.3% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,176 shares of the Internet television network's stock after acquiring an additional 1,660 shares during the period. DAVENPORT & Co LLC's holdings in Netflix were worth $13,220,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC grew its holdings in Netflix by 109,524.3% in the 1st quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network's stock valued at $8,239,576,000 after buying an additional 8,827,662 shares in the last quarter. Norges Bank acquired a new position in shares of Netflix in the fourth quarter valued at about $5,019,087,000. Arrowstreet Capital Limited Partnership increased its position in Netflix by 59.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,301,098 shares of the Internet television network's stock worth $2,051,016,000 after acquiring an additional 856,307 shares during the period. Massachusetts Financial Services Co. MA increased its position in Netflix by 318.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 976,924 shares of the Internet television network's stock worth $870,752,000 after acquiring an additional 743,724 shares during the period. Finally, Northern Trust Corp raised its stake in Netflix by 14.3% in the 4th quarter. Northern Trust Corp now owns 4,574,006 shares of the Internet television network's stock worth $4,076,903,000 after purchasing an additional 570,674 shares in the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Spencer Adam Neumann sold 2,601 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $1,307.22, for a total transaction of $3,400,079.22. Following the completion of the sale, the chief financial officer directly owned 3,691 shares of the company's stock, valued at approximately $4,824,949.02. This trade represents a 41.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Reed Hastings sold 9,673 shares of Netflix stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $1,329.11, for a total value of $12,856,481.03. Following the sale, the director owned 394 shares in the company, valued at $523,669.34. The trade was a 96.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 186,723 shares of company stock valued at $223,307,201 over the last 90 days. 1.37% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

NFLX has been the topic of several recent research reports. Phillip Securities raised shares of Netflix from a "moderate sell" rating to a "hold" rating in a report on Monday, April 21st. Oppenheimer increased their price target on Netflix from $1,200.00 to $1,425.00 and gave the stock an "outperform" rating in a research report on Thursday, June 12th. Wedbush reissued an "outperform" rating and set a $1,200.00 target price on shares of Netflix in a report on Monday, May 5th. Cfra Research upgraded Netflix to a "strong-buy" rating in a research report on Monday, April 28th. Finally, Canaccord Genuity Group upped their price objective on shares of Netflix from $1,380.00 to $1,525.00 and gave the stock a "buy" rating in a research report on Wednesday. Eleven research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $1,182.58.

Netflix Stock Up 0.8%

NFLX traded up $10.38 during trading on Friday, hitting $1,295.24. 2,006,224 shares of the company's stock were exchanged, compared to its average volume of 3,761,661. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.58. The business's 50 day moving average is $1,204.00 and its two-hundred day moving average is $1,034.00. The stock has a market cap of $551.21 billion, a P/E ratio of 61.21, a PEG ratio of 2.48 and a beta of 1.59. Netflix, Inc. has a fifty-two week low of $587.04 and a fifty-two week high of $1,341.15.

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 (EPS) for the quarter, beating the consensus estimate of $5.74 by $0.87. The company had revenue of $10.54 billion for the quarter, compared to analysts' expectations of $10.51 billion. Netflix had a return on equity of 39.61% and a net margin of 23.07%. During the same quarter in the previous year, the firm earned $8.28 earnings per share. As a group, equities analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current fiscal 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.