Hennion & Walsh Asset Management Inc. Grows Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Hennion & Walsh Asset Management Inc. grew its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 16.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,756 shares of the Internet television network's stock after acquiring an additional 248 shares during the period. Hennion & Walsh Asset Management Inc.'s holdings in Netflix were worth $1,638,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in NFLX. AEGON ASSET MANAGEMENT UK Plc purchased a new stake in Netflix during the first quarter worth $18,441,000. Bremer Bank National Association lifted its holdings in Netflix by 3.7% during the first quarter. Bremer Bank National Association now owns 10,158 shares of the Internet television network's stock worth $9,473,000 after buying an additional 364 shares during the period. Orser Capital Management LLC purchased a new stake in Netflix during the first quarter worth $1,784,000. Crestmont Private Wealth LLC purchased a new stake in Netflix during the first quarter worth $200,000. Finally, Unigestion Holding SA purchased a new stake in Netflix during the first quarter worth $15,256,000. 80.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NFLX. Wells Fargo & Company upped their target price on Netflix from $1,210.00 to $1,222.00 and gave the stock an "overweight" rating in a report on Monday, April 21st. KeyCorp upped their target price on Netflix from $1,000.00 to $1,070.00 and gave the stock an "overweight" rating in a report on Monday, April 21st. Cfra Research upgraded Netflix to a "strong-buy" rating in a report on Monday, April 28th. Pivotal Research increased their price objective on Netflix from $1,250.00 to $1,350.00 and gave the company a "buy" rating in a report on Monday, April 21st. Finally, Oppenheimer reiterated an "outperform" rating and set a $1,200.00 price objective (up previously from $1,150.00) on shares of Netflix in a report on Friday, April 18th. Eleven analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $1,149.91.

Insider Activity

In related news, Director Ann Mather sold 1,090 shares of the firm's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $1,250.00, for a total value of $1,362,500.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Reed Hastings sold 26,933 shares of the firm's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $1,211.66, for a total transaction of $32,633,638.78. Following the completion of the transaction, the director now directly owns 394 shares in the company, valued at $477,394.04. This represents a 98.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 153,390 shares of company stock worth $170,509,439 in the last ninety days. Company insiders own 1.37% of the company's stock.

Netflix Price Performance

Shares of NASDAQ:NFLX traded down $9.05 during trading on Friday, reaching $1,241.47. 2,554,452 shares of the company's stock traded hands, compared to its average volume of 3,750,050. Netflix, Inc. has a fifty-two week low of $587.04 and a fifty-two week high of $1,262.81. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. The firm has a market cap of $528.33 billion, a PE ratio of 62.61, a P/E/G ratio of 2.12 and a beta of 1.59. The company has a 50-day simple moving average of $1,087.80 and a 200-day simple moving average of $987.81.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its earnings results on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, beating analysts' consensus estimates of $5.74 by $0.87. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The firm had revenue of $10.54 billion for the quarter, compared to analysts' expectations of $10.51 billion. During the same period last year, the firm earned $8.28 EPS. As a group, analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current year.

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.