Financial Gravity Asset Management Inc. Takes $3.42 Million Position in Netflix, Inc. (NASDAQ:NFLX)

Financial Gravity Asset Management Inc. acquired a new stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 3,670 shares of the Internet television network's stock, valued at approximately $3,422,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Halbert Hargrove Global Advisors LLC grew its stake in 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 purchasing an additional 13 shares in the last quarter. Brown Shipley& Co Ltd bought a new position in Netflix during the 4th quarter worth approximately $27,000. Transce3nd LLC acquired a new position in shares of Netflix in the 4th quarter worth approximately $32,000. Copia Wealth Management bought a new stake in shares of Netflix in the 4th quarter valued at approximately $37,000. Finally, Stuart Chaussee & Associates Inc. increased its holdings in shares of Netflix by 4,500.0% in the 4th quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network's stock valued at $41,000 after acquiring an additional 45 shares during the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Ann Mather sold 1,090 shares of Netflix stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $1,250.00, for a total value of $1,362,500.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Strive Masiyiwa sold 290 shares of the business's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $1,336.54, for a total value of $387,596.60. The disclosure for this sale can be found here. In the last three months, insiders sold 186,723 shares of company stock worth $223,307,201. Corporate insiders own 1.37% of the company's stock.

Netflix Price Performance

Shares of NASDAQ:NFLX traded down $8.51 on Friday, reaching $1,242.08. 2,947,238 shares of the company traded hands, compared to its average volume of 3,768,034. The stock has a market capitalization of $528.59 billion, a PE ratio of 58.73, a P/E/G ratio of 2.34 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. The company's 50 day moving average is $1,219.93 and its 200-day moving average is $1,046.88. 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 EPS for the quarter, beating the consensus estimate of $5.74 by $0.87. The business had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $10.51 billion. Netflix had a return on equity of 39.61% and a net margin of 23.07%. During the same period in the prior year, the business posted $8.28 earnings per share. As a group, analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on NFLX shares. Jefferies Financial Group raised their price objective on Netflix from $1,200.00 to $1,400.00 and gave the stock a "buy" rating in a research note on Tuesday, June 3rd. Guggenheim restated a "buy" rating and issued a $1,150.00 price target (up from $1,100.00) on shares of Netflix in a research report on Friday, April 18th. BMO Capital Markets reaffirmed an "outperform" rating and set a $1,200.00 price objective (up previously from $1,175.00) on shares of Netflix in a research report on Friday, April 18th. Oppenheimer upped their target price on Netflix from $1,200.00 to $1,425.00 and gave the company an "outperform" rating in a report on Thursday, June 12th. Finally, Wedbush restated an "outperform" rating and set a $1,200.00 price objective on shares of Netflix in a research report on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Netflix presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,214.52.

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.