Dock Street Asset Management Inc. Makes New Investment in Netflix, Inc. (NASDAQ:NFLX)

Dock Street Asset Management Inc. purchased a new position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 23,217 shares of the Internet television network's stock, valued at approximately $21,651,000. Netflix makes up 2.6% of Dock Street Asset Management Inc.'s portfolio, making the stock its 13th largest position.

Other large investors have also made changes to their positions in the company. Halbert Hargrove Global Advisors LLC grew its stake in shares of Netflix by 100.0% during 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 bought a new stake in shares of Netflix during the fourth quarter worth $27,000. Transce3nd LLC bought a new stake in shares of Netflix during the fourth quarter worth $32,000. Copia Wealth Management bought a new stake in shares of Netflix during the fourth quarter worth $37,000. Finally, Stuart Chaussee & Associates Inc. grew its stake in shares of Netflix by 4,500.0% during the fourth quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network's stock worth $41,000 after buying an additional 45 shares during the last quarter. Institutional investors and hedge funds own 80.93% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on NFLX. The Goldman Sachs Group lifted their price target on shares of Netflix from $1,000.00 to $1,140.00 and gave the stock a "neutral" rating in a report on Wednesday, July 2nd. Bank of America lifted their price target on shares of Netflix from $1,175.00 to $1,490.00 and gave the stock a "buy" rating in a report on Friday, May 30th. Needham & Company LLC set a $1,500.00 price target on shares of Netflix and gave the stock a "buy" rating in a report on Friday, July 11th. Macquarie lifted their price target on shares of Netflix from $1,150.00 to $1,200.00 and gave the stock an "outperform" rating in a report on Monday, April 21st. Finally, Moffett Nathanson reiterated a "buy" rating and set a $1,150.00 price target (up previously from $1,100.00) on shares of Netflix in a report on Friday, April 18th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $1,227.39.

Insiders Place Their Bets

In other news, CAO Jeffrey William Karbowski sold 620 shares of the firm's stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $1,286.84, for a total transaction of $797,840.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Strive Masiyiwa sold 290 shares of Netflix 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. Over the last ninety days, insiders sold 186,723 shares of company stock worth $223,307,201. Company insiders own 1.37% of the company's stock.

Netflix Stock Performance

Shares of Netflix stock traded down $9.96 on Wednesday, reaching $1,250.31. 3,214,297 shares of the company traded hands, compared to its average volume of 3,764,734. Netflix, Inc. has a 52 week low of $587.04 and a 52 week high of $1,341.15. The company has a 50 day moving average of $1,226.71 and a 200 day moving average of $1,054.65. The firm has a market capitalization of $532.09 billion, a PE ratio of 59.09, a PEG ratio of 2.28 and a beta of 1.59. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.20 and a quick ratio of 1.20.

Netflix (NASDAQ:NFLX - Get Free Report) last released its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, topping the consensus estimate of $5.74 by $0.87. The company had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $10.51 billion. Netflix had a net margin of 23.07% and a return on equity of 39.61%. During the same period last year, the firm earned $8.28 EPS. Equities analysts forecast 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.