Empirical Financial Services LLC d.b.a. Empirical Wealth Management Acquires 272 Shares of Netflix, Inc. (NASDAQ:NFLX)

Key Points

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Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 3.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,369 shares of the Internet television network's stock after purchasing an additional 272 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings in Netflix were worth $8,737,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in shares of 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 worth $8,239,576,000 after buying an additional 8,827,662 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Netflix by 318.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 976,924 shares of the Internet television network's stock valued at $870,752,000 after acquiring an additional 743,724 shares during the period. Northern Trust Corp lifted its holdings in Netflix by 14.3% in the fourth quarter. Northern Trust Corp now owns 4,574,006 shares of the Internet television network's stock valued at $4,076,903,000 after acquiring an additional 570,674 shares during the period. Two Sigma Advisers LP boosted its position in Netflix by 935.7% in the fourth quarter. Two Sigma Advisers LP now owns 461,900 shares of the Internet television network's stock worth $411,701,000 after purchasing an additional 417,300 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Netflix during the 4th quarter valued at about $355,076,000. Institutional investors own 80.93% of the company's stock.

Netflix Trading Up 1.6%

NFLX traded up $18.66 on Friday, hitting $1,178.06. The company had a trading volume of 929,458 shares, compared to its average volume of 4,248,271. The business's fifty day simple moving average is $1,234.85 and its 200 day simple moving average is $1,080.08. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.58. Netflix, Inc. has a 12-month low of $587.04 and a 12-month high of $1,341.15. The company has a market cap of $500.59 billion, a PE ratio of 50.14, a PEG ratio of 1.99 and a beta of 1.59.

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 (EPS) for the quarter, beating the consensus estimate of $7.07 by $0.12. The business had revenue of $11.08 billion during the quarter, compared to analyst estimates of $11.04 billion. Netflix had a return on equity of 42.50% and a net margin of 24.58%. The company's revenue for the quarter was up 15.9% on a year-over-year basis. During the same period last year, the company earned $4.88 EPS. Equities research analysts expect that Netflix, Inc. will post 24.58 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on NFLX. JPMorgan Chase & Co. increased their price objective on shares of Netflix from $1,230.00 to $1,300.00 and gave the stock a "neutral" rating in a research note on Friday, July 18th. Citigroup reaffirmed a "neutral" rating and set a $1,250.00 target price (up from $1,020.00) on shares of Netflix in a report on Thursday, May 29th. Barclays reiterated a "sell" rating and issued a $1,100.00 price target (up from $1,000.00) on shares of Netflix in a research report on Wednesday, July 9th. Wall Street Zen raised shares of Netflix from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Finally, Loop Capital restated a "hold" rating on shares of Netflix in a research note on Tuesday, July 15th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Netflix has a consensus rating of "Moderate Buy" and an average price target of $1,297.66.

Insider Buying and Selling

In other Netflix news, Director Jay C. Hoag sold 31,750 shares of the business's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $1,252.35, for a total transaction of $39,762,112.50. Following the transaction, the director owned 63,040 shares in the company, valued at $78,948,144. The trade was a 33.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Reed Hastings sold 9,673 shares of the stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $1,329.11, for a total transaction of $12,856,481.03. Following the completion of the sale, the director directly owned 394 shares in the company, valued at approximately $523,669.34. This represents a 96.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold 123,830 shares of company stock valued at $153,102,930 over the last 90 days. 1.37% of the stock is currently owned by insiders.

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.