Graypoint LLC Has $3.84 Million Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Graypoint LLC cut its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 4.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,120 shares of the Internet television network's stock after selling 205 shares during the quarter. Graypoint LLC's holdings in Netflix were worth $3,842,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Verdence Capital Advisors LLC boosted its stake in Netflix by 60.1% during the 1st quarter. Verdence Capital Advisors LLC now owns 2,399 shares of the Internet television network's stock valued at $2,237,000 after acquiring an additional 901 shares during the last quarter. Hudock Inc. boosted its stake in Netflix by 30.6% during the 1st quarter. Hudock Inc. now owns 333 shares of the Internet television network's stock valued at $311,000 after acquiring an additional 78 shares during the last quarter. Napatree Capital LLC boosted its stake in Netflix by 17.4% during the 1st quarter. Napatree Capital LLC now owns 573 shares of the Internet television network's stock valued at $534,000 after acquiring an additional 85 shares during the last quarter. Allen Capital Group LLC boosted its stake in Netflix by 19.5% during the 1st quarter. Allen Capital Group LLC now owns 472 shares of the Internet television network's stock valued at $440,000 after acquiring an additional 77 shares during the last quarter. Finally, FWG Holdings LLC bought a new position in Netflix during the 1st quarter valued at $398,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of Netflix from $1,230.00 to $1,300.00 and gave the company a "neutral" rating in a research note on Friday. The Goldman Sachs Group increased their price objective on shares of Netflix from $1,000.00 to $1,140.00 and gave the company a "neutral" rating in a research note on Wednesday, July 2nd. Citigroup restated a "neutral" rating and issued a $1,250.00 price target (up from $1,020.00) on shares of Netflix in a research report on Thursday, May 29th. Morgan Stanley raised their price target on shares of Netflix from $1,450.00 to $1,500.00 and gave the stock an "overweight" rating in a research report on Friday. Finally, UBS Group raised their price target on shares of Netflix from $1,450.00 to $1,495.00 and gave the stock a "buy" rating in a research report on Friday. 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 stock. According to MarketBeat, Netflix currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,275.30.

Netflix Price Performance

Shares of NFLX stock traded down $64.93 during midday trading on Friday, reaching $1,209.24. 10,678,762 shares of the company were exchanged, compared to its average volume of 3,802,076. 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 $514.62 billion, a P/E ratio of 57.15, a PEG ratio of 2.26 and a beta of 1.59. The company's 50 day moving average price is $1,231.20 and its two-hundred day moving average price is $1,058.57. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.20 and a current ratio of 1.20.

Netflix (NASDAQ:NFLX - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, topping analysts' consensus estimates of $7.07 by $0.12. Netflix had a net margin of 23.07% and a return on equity of 39.61%. The company had revenue of $11.08 billion for the quarter, compared to the consensus estimate of $11.04 billion. During the same period in the previous year, the firm earned $4.88 EPS. Netflix's revenue was up 15.9% on a year-over-year basis. On average, sell-side analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insider Buying and Selling at Netflix

In other news, Director Reed Hastings sold 26,977 shares of Netflix stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $1,133.05, for a total value of $30,566,289.85. Following the transaction, the director owned 394 shares of the company's stock, valued at $446,421.70. The trade was a 98.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Bradford L. Smith sold 3,919 shares of Netflix stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $1,124.26, for a total transaction of $4,405,974.94. Following the completion of the transaction, the director directly owned 7,969 shares in the company, valued at $8,959,227.94. This represents a 32.97% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 186,723 shares of company stock worth $223,307,201. 1.37% of the stock is currently owned by company insiders.

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.