3,670 Shares in Netflix, Inc. (NASDAQ:NFLX) Bought by Financial Gravity Asset Management Inc.

Financial Gravity Asset Management Inc. acquired a new stake 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 (SEC). The institutional investor acquired 3,670 shares of the Internet television network's stock, valued at approximately $3,422,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in NFLX. Halbert Hargrove Global Advisors LLC boosted its position in shares of Netflix by 100.0% during the 1st 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 shares of Netflix during the 4th quarter worth about $27,000. Transce3nd LLC bought a new position in shares of Netflix during the 4th quarter worth about $32,000. Copia Wealth Management bought a new position in shares of Netflix during the 4th quarter worth about $37,000. Finally, Stuart Chaussee & Associates Inc. raised 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 worth $41,000 after acquiring an additional 45 shares during the last quarter. Institutional investors own 80.93% of the company's stock.

Netflix Stock Performance

NFLX traded down $37.69 on Thursday, hitting $1,250.59. The company's stock had a trading volume of 4,228,410 shares, compared to its average volume of 3,771,046. The company's 50 day simple moving average is $1,217.58 and its 200-day simple moving average is $1,044.54. The firm has a market cap of $532.21 billion, a P/E ratio of 59.10, a price-to-earnings-growth ratio of 2.34 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. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.58.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.74 by $0.87. Netflix had a net margin of 23.07% and a return on equity of 39.61%. The business had revenue of $10.54 billion for the quarter, compared to analysts' expectations of $10.51 billion. During the same period in the prior year, the company posted $8.28 EPS. Analysts forecast that Netflix, Inc. will post 24.58 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on NFLX shares. Pivotal Research restated a "buy" rating on shares of Netflix in a report on Thursday. Rosenblatt Securities upped their target price on shares of Netflix from $1,494.00 to $1,514.00 and gave the stock a "buy" rating in a report on Monday, April 21st. JPMorgan Chase & Co. restated a "neutral" rating and issued a $1,220.00 target price (up previously from $1,150.00) on shares of Netflix in a report on Monday, May 19th. Jefferies Financial Group upped their target price on shares of Netflix from $1,200.00 to $1,400.00 and gave the stock a "buy" rating in a report on Tuesday, June 3rd. Finally, Evercore ISI restated an "outperform" rating on shares of Netflix in a report on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $1,195.30.

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 the firm's stock in a transaction on Tuesday, July 1st. The shares were 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 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.