Netflix, Inc. (NASDAQ:NFLX) Shares Purchased by Geneos Wealth Management Inc.

Key Points

• Geneos Wealth Management Inc. increased its ownership of Netflix, Inc. by 48.9% in the first quarter, acquiring an additional 1,868 shares to reach a total of 5,689 shares worth approximately $5.3 million.
• Several institutional investors have been active in modifying their Netflix holdings, with FMR LLC increasing its stake by 1.8% and GAMMA Investing LLC expanding its position by an astonishing 109,524.3%.
• Analyst ratings for Netflix are mixed; while some analysts have set price targets as high as $1,500, others have downgraded their ratings, resulting in an overall consensus of a "Moderate Buy".

Geneos Wealth Management Inc. grew its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 48.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,689 shares of the Internet television network's stock after purchasing an additional 1,868 shares during the period. Geneos Wealth Management Inc.'s holdings in Netflix were worth $5,305,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Cozad Asset Management Inc. boosted its position in Netflix by 27.1% during the 1st quarter. Cozad Asset Management Inc. now owns 1,303 shares of the Internet television network's stock worth $1,215,000 after purchasing an additional 278 shares during the period. N.E.W. Advisory Services LLC purchased a new stake in shares of Netflix in the first quarter worth about $117,000. Canopy Partners LLC grew its stake in shares of Netflix by 2.5% in the first quarter. Canopy Partners LLC now owns 995 shares of the Internet television network's stock valued at $928,000 after buying an additional 24 shares in the last quarter. Morningstar Investment Management LLC raised its holdings in shares of Netflix by 13.2% during the 1st quarter. Morningstar Investment Management LLC now owns 6,351 shares of the Internet television network's stock valued at $5,922,000 after buying an additional 741 shares during the period. Finally, TCTC Holdings LLC raised its holdings in shares of Netflix by 3.2% during the 1st quarter. TCTC Holdings LLC now owns 318 shares of the Internet television network's stock valued at $297,000 after buying an additional 10 shares during the period. Hedge funds and other institutional investors own 80.93% of the company's stock.

Netflix Stock Performance

Shares of NASDAQ NFLX traded up $15.46 during midday trading on Wednesday, hitting $1,184.20. 2,908,020 shares of the company's stock were exchanged, compared to its average volume of 3,752,075. Netflix, Inc. has a twelve month low of $587.04 and a twelve month high of $1,341.15. The firm has a market cap of $503.20 billion, a P/E ratio of 50.46, a PEG ratio of 1.97 and a beta of 1.59. The stock's 50 day moving average price is $1,235.42 and its 200-day moving average price is $1,077.88. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.34 and a quick ratio of 1.34.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share for the quarter, beating the consensus estimate of $7.07 by $0.12. Netflix had a return on equity of 42.50% and a net margin of 24.58%. The firm had revenue of $11.08 billion for the quarter, compared to the consensus estimate of $11.04 billion. During the same quarter in the previous year, the business earned $4.88 EPS. The firm's revenue for the quarter was up 15.9% on a year-over-year basis. Equities research analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current year.

Wall Street Analyst Weigh In

NFLX has been the subject of a number of analyst reports. Oppenheimer upped their price target on Netflix from $1,200.00 to $1,425.00 and gave the stock an "outperform" rating in a report on Thursday, June 12th. JPMorgan Chase & Co. raised their price target on shares of Netflix from $1,230.00 to $1,300.00 and gave the company a "neutral" rating in a report on Friday, July 18th. Wedbush reaffirmed an "outperform" rating and set a $1,500.00 price target (up previously from $1,400.00) on shares of Netflix in a research note on Monday, July 14th. UBS Group reissued a "market underperform" rating on shares of Netflix in a research report on Saturday, July 19th. Finally, Wall Street Zen upgraded Netflix from a "hold" rating to a "buy" rating in a research note on Saturday. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $1,297.66.

Insiders Place Their Bets

In other news, Director Strive Masiyiwa sold 290 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $1,336.54, for a total value of $387,596.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Reed Hastings sold 9,673 shares of the stock in a transaction that occurred 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 transaction, the director owned 394 shares of the company's stock, valued at $523,669.34. This trade represents a 96.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 153,408 shares of company stock valued at $186,614,540. Corporate 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.