Hobart Private Capital LLC Acquires New Shares in Netflix, Inc. (NASDAQ:NFLX)

Hobart Private Capital LLC purchased a new position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 295 shares of the Internet television network's stock, valued at approximately $275,000.

A number of other institutional investors and hedge funds have also bought and sold shares of NFLX. MassMutual Private Wealth & Trust FSB grew its holdings in Netflix by 0.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 2,063 shares of the Internet television network's stock valued at $1,924,000 after purchasing an additional 19 shares during the period. Life Line Wealth Management LLC bought a new stake in Netflix in the 4th quarter valued at about $209,000. Fire Capital Management LLC purchased a new stake in Netflix during the fourth quarter valued at about $352,000. Mascagni Wealth Management Inc. bought a new position in Netflix during the fourth quarter worth about $528,000. Finally, Prostatis Group LLC raised its position in shares of Netflix by 3.7% in the fourth quarter. Prostatis Group LLC now owns 754 shares of the Internet television network's stock valued at $672,000 after purchasing an additional 27 shares during the period. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Netflix

In other Netflix news, CFO Spencer Adam Neumann sold 2,601 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $982.05, for a total transaction of $2,554,312.05. Following the transaction, the chief financial officer now owns 3,691 shares of the company's stock, valued at approximately $3,624,746.55. This represents a 41.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ann Mather sold 1,358 shares of Netflix stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $1,150.00, for a total value of $1,561,700.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 133,348 shares of company stock worth $139,087,908. 1.37% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on NFLX. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $1,220.00 price target (up from $1,150.00) on shares of Netflix in a report on Monday, May 19th. Pivotal Research lifted their target price on Netflix from $1,250.00 to $1,350.00 and gave the company a "buy" rating in a report on Monday, April 21st. Oppenheimer reaffirmed an "outperform" rating and set a $1,200.00 price objective (up previously from $1,150.00) on shares of Netflix in a research note on Friday, April 18th. Benchmark reiterated a "hold" rating on shares of Netflix in a research note on Monday, April 21st. Finally, Guggenheim restated a "buy" rating and set a $1,150.00 price target (up from $1,100.00) on shares of Netflix in a research 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 assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $1,122.33.

Netflix Stock Up 1.5%

Netflix stock traded up $17.26 during midday trading on Friday, hitting $1,202.12. The stock had a trading volume of 4,686,095 shares, compared to its average volume of 3,758,842. The business has a fifty day moving average price of $1,055.18 and a 200 day moving average price of $971.66. Netflix, Inc. has a 12 month low of $587.04 and a 12 month high of $1,215.91. The stock has a market cap of $511.59 billion, a P/E ratio of 60.62, a P/E/G ratio of 2.12 and a beta of 1.58. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56.

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, beating analysts' consensus estimates of $5.74 by $0.87. The firm had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.51 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. During the same period in the previous year, the business posted $8.28 EPS. Research analysts predict that Netflix, Inc. will post 24.58 EPS for the current year.

Netflix 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.