Kovitz Investment Group Partners LLC Grows Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Kovitz Investment Group Partners LLC boosted its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 43.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,093 shares of the Internet television network's stock after purchasing an additional 5,751 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in Netflix were worth $17,805,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in Netflix by 1.4% during the first quarter. Vanguard Group Inc. now owns 37,997,260 shares of the Internet television network's stock valued at $35,433,585,000 after purchasing an additional 509,255 shares in the last quarter. GAMMA Investing LLC increased its position 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 valued at $8,239,576,000 after acquiring an additional 8,827,662 shares during the last quarter. Invesco Ltd. increased its position in Netflix by 8.3% during the first quarter. Invesco Ltd. now owns 4,664,818 shares of the Internet television network's stock valued at $4,350,083,000 after acquiring an additional 356,617 shares during the last quarter. Northern Trust Corp increased its position in Netflix by 14.3% during the fourth quarter. Northern Trust Corp now owns 4,574,006 shares of the Internet television network's stock valued at $4,076,903,000 after acquiring an additional 570,674 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in Netflix by 57.3% during the first quarter. Goldman Sachs Group Inc. now owns 3,393,064 shares of the Internet television network's stock valued at $3,164,134,000 after acquiring an additional 1,236,251 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company's stock.

Wall Street Analysts Forecast Growth

NFLX has been the topic of a number of analyst reports. Oppenheimer boosted their price objective on shares of Netflix from $1,200.00 to $1,425.00 and gave the company an "outperform" rating in a research report on Thursday, June 12th. Sanford C. Bernstein boosted their price objective on shares of Netflix from $1,200.00 to $1,390.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. Seaport Res Ptn cut shares of Netflix from a "strong-buy" rating to a "hold" rating in a research report on Sunday, July 6th. Citigroup reiterated a "neutral" rating and set a $1,250.00 price objective (up previously from $1,020.00) on shares of Netflix in a research report on Thursday, May 29th. Finally, Canaccord Genuity Group reiterated a "buy" rating on shares of Netflix in a research report on Thursday, July 10th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Netflix has an average rating of "Moderate Buy" and a consensus target price of $1,297.66.

Netflix Stock Performance

NFLX stock opened at $1,230.56 on Friday. The firm has a market cap of $522.90 billion, a price-to-earnings ratio of 52.43, a PEG ratio of 2.03 and a beta of 1.59. The firm has a 50-day simple moving average of $1,231.28 and a two-hundred day simple moving average of $1,100.31. Netflix, Inc. has a one year low of $659.80 and a one year high of $1,341.15. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.34 and a current ratio of 1.34.

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, beating the consensus estimate of $7.07 by $0.12. The business had revenue of $11.08 billion during the quarter, compared to analyst estimates of $11.04 billion. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The company's quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the firm posted $4.88 earnings per share. On average, equities analysts forecast that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Insider Activity at Netflix

In related news, 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 completion of the transaction, the director directly owned 394 shares of the company's stock, valued at $477,394.04. This trade represents a 98.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Gregory K. Peters sold 2,026 shares of the stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $1,157.44, for a total transaction of $2,344,973.44. Following the completion of the transaction, the chief executive officer directly owned 12,781 shares of the company's stock, valued at $14,793,240.64. The trade was a 13.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 146,307 shares of company stock valued at $179,443,809. Company insiders own 1.37% of the company's stock.

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.

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