Koss Olinger Consulting LLC Purchases Shares of 2,014 Netflix, Inc. (NASDAQ:NFLX)

Key Points

• Koss Olinger Consulting LLC acquired 2,014 shares of Netflix, Inc. (NASDAQ:NFLX) valued at approximately $1,878,000 during the first quarter.
• Inside transactions revealed Director Jay C. Hoag sold 31,750 shares for over $39.7 million, indicating a 33.50% decrease in ownership, while fellow Director Reed Hastings also made significant sales.
• Netflix reported a $7.19 EPS for the last quarter, outpacing estimates, with a 15.9% year-over-year revenue growth totaling $11.08 billion.

Koss Olinger Consulting LLC purchased a new stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 2,014 shares of the Internet television network's stock, valued at approximately $1,878,000.

A number of other hedge funds also recently bought and sold shares of the company. Halbert Hargrove Global Advisors LLC lifted its stake in Netflix by 100.0% during the first quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock valued at $25,000 after buying an additional 13 shares in the last quarter. Brown Shipley& Co Ltd purchased a new stake in Netflix during the fourth quarter valued at about $27,000. Transce3nd LLC purchased a new stake in Netflix during the fourth quarter valued at about $32,000. Copia Wealth Management purchased a new stake in Netflix during the fourth quarter valued at about $37,000. Finally, Barnes Dennig Private Wealth Management LLC purchased a new stake in Netflix during the first quarter valued at about $42,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Netflix news, Director Jay C. Hoag sold 31,750 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $1,252.35, for a total transaction of $39,762,112.50. Following the transaction, the director owned 63,040 shares in the company, valued at $78,948,144. This trade represents a 33.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Reed Hastings sold 26,933 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $1,211.66, for a total value of $32,633,638.78. Following the transaction, the director owned 394 shares in the company, valued at approximately $477,394.04. This trade represents a 98.56% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 150,226 shares of company stock worth $183,849,784. 1.37% of the stock is currently owned by company insiders.

Netflix Trading Up 2.6%

Shares of NFLX stock opened at $1,211.64 on Friday. Netflix, Inc. has a 12 month low of $622.99 and a 12 month high of $1,341.15. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.58. The business's 50 day moving average is $1,232.25 and its two-hundred day moving average is $1,093.48. The company has a market cap of $514.86 billion, a PE ratio of 51.63, a price-to-earnings-growth ratio of 1.99 and a beta of 1.59.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 EPS 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 company had revenue of $11.08 billion for the quarter, compared to the consensus estimate of $11.04 billion. During the same quarter last year, the company posted $4.88 earnings per share. The company's revenue for the quarter was up 15.9% compared to the same quarter last year. Equities analysts predict that Netflix, Inc. will post 24.58 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have commented on NFLX shares. UBS Group reaffirmed a "market underperform" rating on shares of Netflix in a research note on Saturday, July 19th. The Goldman Sachs Group upped their target price on Netflix from $1,000.00 to $1,140.00 and gave the company a "neutral" rating in a report on Wednesday, July 2nd. Robert W. Baird increased their price target on shares of Netflix from $1,300.00 to $1,500.00 and gave the stock an "outperform" rating in a research report on Monday, July 21st. Jefferies Financial Group set a $1,500.00 price target on shares of Netflix and gave the stock a "buy" rating in a research report on Friday, July 18th. Finally, BMO Capital Markets reissued an "outperform" rating and issued a $1,425.00 price target (up from $1,200.00) on shares of Netflix in a research report on Tuesday, July 15th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $1,297.66.

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.

Want to see what other hedge funds are holding NFLX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Netflix, Inc. (NASDAQ:NFLX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.