Netflix, Inc. (NASDAQ:NFLX) Stock Position Lifted by Legato Capital Management LLC

Legato Capital Management LLC increased its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 64.7% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,500 shares of the Internet television network's stock after purchasing an additional 2,945 shares during the period. Netflix accounts for about 0.9% of Legato Capital Management LLC's investment portfolio, making the stock its 7th biggest holding. Legato Capital Management LLC's holdings in Netflix were worth $6,994,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Fullcircle Wealth LLC raised its stake in Netflix by 2.5% in the 1st quarter. Fullcircle Wealth LLC now owns 369 shares of the Internet television network's stock worth $344,000 after purchasing an additional 9 shares in the last quarter. Bedell Frazier Investment Counselling LLC raised its position in shares of Netflix by 2.2% in the 4th quarter. Bedell Frazier Investment Counselling LLC now owns 462 shares of the Internet television network's stock valued at $412,000 after buying an additional 10 shares in the last quarter. Mission Creek Capital Partners Inc. raised its position in shares of Netflix by 0.3% in the 4th quarter. Mission Creek Capital Partners Inc. now owns 3,826 shares of the Internet television network's stock valued at $3,410,000 after buying an additional 10 shares in the last quarter. Continuum Wealth Advisors LLC raised its position in shares of Netflix by 4.4% in the 1st quarter. Continuum Wealth Advisors LLC now owns 235 shares of the Internet television network's stock valued at $219,000 after buying an additional 10 shares in the last quarter. Finally, Financial Enhancement Group LLC raised its position in shares of Netflix by 2.5% in the 1st quarter. Financial Enhancement Group LLC now owns 412 shares of the Internet television network's stock valued at $384,000 after buying an additional 10 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Netflix Price Performance

Netflix stock traded down $0.27 during mid-day trading on Friday, hitting $1,180.49. 2,578,503 shares of the company traded hands, compared to its average volume of 4,299,985. The stock has a market cap of $501.63 billion, a price-to-earnings ratio of 50.30, a price-to-earnings-growth ratio of 1.98 and a beta of 1.59. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.20 and a current ratio of 1.34. Netflix, Inc. has a one year low of $587.04 and a one year high of $1,341.15. The stock has a fifty day moving average price of $1,236.66 and a 200-day moving average price of $1,069.32.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The Internet television network reported $7.19 earnings per share for the quarter, topping analysts' consensus estimates of $7.07 by $0.12. The firm 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 business's quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the previous year, the business posted $4.88 EPS. On average, equities analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insider Transactions at Netflix

In other news, CAO Jeffrey William Karbowski sold 620 shares of the business's stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $1,286.84, for a total value of $797,840.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Spencer Adam Neumann sold 2,601 shares of Netflix 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 completion of the transaction, the chief financial officer directly owned 3,691 shares in the company, valued at approximately $4,824,949.02. The trade was a 41.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 185,923 shares of company stock worth $222,445,095. Corporate insiders own 1.37% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on NFLX shares. Wedbush reiterated an "outperform" rating and set a $1,500.00 price objective (up from $1,400.00) on shares of Netflix in a research report on Monday, July 14th. Cfra Research upgraded shares of Netflix to a "strong-buy" rating in a research report on Monday, April 28th. Wells Fargo & Company upped their price target on shares of Netflix from $1,500.00 to $1,560.00 and gave the company an "overweight" rating in a research report on Friday, July 18th. Barclays restated a "sell" rating and issued a $1,100.00 price target (up from $1,000.00) on shares of Netflix in a research report on Wednesday, July 9th. Finally, Jefferies Financial Group set a $1,500.00 price objective on shares of Netflix and gave the stock a "buy" rating in a research report on Friday, July 18th. Three analysts have rated the stock with a sell rating, eleven 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. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $1,297.66.

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.