HighPoint Advisor Group LLC Raises Stock Position in Netflix, Inc. (NASDAQ:NFLX)

HighPoint Advisor Group LLC boosted its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 2.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,107 shares of the Internet television network's stock after purchasing an additional 275 shares during the period. Netflix accounts for about 0.7% of HighPoint Advisor Group LLC's portfolio, making the stock its 28th biggest holding. HighPoint Advisor Group LLC's holdings in Netflix were worth $11,290,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Netflix by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 37,488,005 shares of the Internet television network's stock valued at $33,413,809,000 after buying an additional 171,712 shares during the period. FMR LLC grew its stake in Netflix by 1.8% during the fourth quarter. FMR LLC now owns 20,887,090 shares of the Internet television network's stock worth $18,617,081,000 after purchasing an additional 375,234 shares during the period. Geode Capital Management LLC grew its stake in Netflix by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 9,323,952 shares of the Internet television network's stock worth $8,287,823,000 after purchasing an additional 175,596 shares during the period. GAMMA Investing LLC grew its stake in Netflix by 109,524.3% during the first quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network's stock worth $8,239,576,000 after purchasing an additional 8,827,662 shares during the period. Finally, Norges Bank acquired a new stake in Netflix during the fourth quarter worth approximately $5,019,087,000. Institutional investors and hedge funds own 80.93% of the company's stock.

Insider Buying and Selling at Netflix

In other news, CFO Spencer Adam Neumann sold 2,601 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $1,307.22, for a total transaction of $3,400,079.22. Following the transaction, the chief financial officer directly owned 3,691 shares of the company's stock, valued at $4,824,949.02. This represents a 41.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Strive Masiyiwa sold 290 shares of the stock in a transaction 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 disclosure for this sale can be found here. In the last quarter, insiders sold 186,563 shares of company stock worth $223,147,201. Insiders own 1.37% of the company's stock.

Wall Street Analysts Forecast Growth

NFLX has been the topic of several recent research reports. Wolfe Research set a $1,340.00 price target on Netflix and gave the stock an "outperform" rating in a report on Friday, May 16th. Citigroup reiterated a "neutral" rating and issued a $1,250.00 price target (up previously from $1,020.00) on shares of Netflix in a report on Thursday, May 29th. KeyCorp increased their price target on Netflix from $1,070.00 to $1,390.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Barclays reiterated a "sell" rating and issued a $1,100.00 price target (up previously from $1,000.00) on shares of Netflix in a report on Wednesday, July 9th. Finally, Pivotal Research restated a "buy" rating on shares of Netflix in a report on Thursday, July 10th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Netflix presently has an average rating of "Moderate Buy" and a consensus price target of $1,297.66.

Netflix Stock Down 3.5%

Shares of NFLX stock traded down $43.19 during midday trading on Tuesday, reaching $1,190.08. 5,033,206 shares of the stock were exchanged, compared to its average volume of 3,775,427. Netflix, Inc. has a 1 year low of $587.04 and a 1 year high of $1,341.15. The company's 50 day moving average is $1,232.59 and its two-hundred day moving average is $1,063.17. The company has a current ratio of 1.34, a quick ratio of 1.20 and a debt-to-equity ratio of 0.58. The firm has a market cap of $506.46 billion, a PE ratio of 50.71, a price-to-earnings-growth ratio of 2.15 and a beta of 1.59.

Netflix (NASDAQ:NFLX - Get Free Report) last issued 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 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 analysts' expectations of $11.04 billion. During the same period in the previous year, the firm posted $4.88 EPS. The business's revenue for the quarter was up 15.9% compared to the same quarter last year. On average, equities research analysts predict that Netflix, Inc. will post 24.58 EPS 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.