Main Street Research LLC Purchases 41,305 Shares of Netflix, Inc. (NASDAQ:NFLX)

Main Street Research LLC grew its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 10,404.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,702 shares of the Internet television network's stock after purchasing an additional 41,305 shares during the period. Netflix makes up 2.5% of Main Street Research LLC's portfolio, making the stock its 17th biggest holding. Main Street Research LLC's holdings in Netflix were worth $38,888,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Janus Henderson Group PLC grew its holdings in Netflix by 8.7% in the fourth quarter. Janus Henderson Group PLC now owns 1,377,081 shares of the Internet television network's stock worth $1,227,468,000 after purchasing an additional 110,432 shares during the period. PharVision Advisers LLC purchased a new stake in shares of Netflix during the fourth quarter valued at approximately $873,000. New England Research & Management Inc. grew its holdings in shares of Netflix by 148.5% during the first quarter. New England Research & Management Inc. now owns 2,122 shares of the Internet television network's stock valued at $1,979,000 after buying an additional 1,268 shares during the last quarter. First National Trust Co grew its holdings in shares of Netflix by 1.0% during the fourth quarter. First National Trust Co now owns 1,258 shares of the Internet television network's stock valued at $1,121,000 after buying an additional 12 shares during the last quarter. Finally, Xcel Wealth Management LLC grew its holdings in shares of Netflix by 15.2% during the first quarter. Xcel Wealth Management LLC now owns 492 shares of the Internet television network's stock valued at $459,000 after buying an additional 65 shares during the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on NFLX. Seaport Res Ptn cut shares of Netflix from a "strong-buy" rating to a "hold" rating in a report on Sunday, July 6th. Evercore ISI reiterated an "outperform" rating on shares of Netflix in a research report on Thursday, May 15th. KeyCorp increased their price target on shares of Netflix from $1,070.00 to $1,390.00 and gave the stock an "overweight" rating in a research report on Thursday. Citigroup reiterated a "neutral" rating and issued a $1,250.00 price target (up from $1,020.00) on shares of Netflix in a research report on Thursday, May 29th. Finally, UBS Group increased their price target on shares of Netflix from $1,150.00 to $1,450.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Netflix has an average rating of "Moderate Buy" and an average target price of $1,214.52.

Netflix Price Performance

NASDAQ NFLX traded down $5.48 on Friday, reaching $1,245.11. The company had a trading volume of 3,948,915 shares, compared to its average volume of 3,766,443. Netflix, Inc. has a 12 month low of $587.04 and a 12 month high of $1,341.15. The stock has a market capitalization of $529.88 billion, a PE ratio of 58.84, a price-to-earnings-growth ratio of 2.27 and a beta of 1.59. The firm's 50 day moving average price is $1,219.93 and its 200 day moving average price is $1,046.88. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.58.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, topping analysts' consensus estimates of $5.74 by $0.87. Netflix had a net margin of 23.07% and a return on equity of 39.61%. The business had revenue of $10.54 billion during the quarter, compared to analysts' expectations of $10.51 billion. During the same period last year, the company posted $8.28 EPS. As a group, equities analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insider Buying and Selling at Netflix

In other Netflix news, Director Jay C. Hoag sold 32,515 shares of Netflix stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $1,101.97, for a total value of $35,830,554.55. Following the completion of the transaction, the director directly owned 79,040 shares of the company's stock, valued at $87,099,708.80. This trade represents a 29.15% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Spencer Adam Neumann sold 2,601 shares of Netflix stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $1,132.38, for a total transaction of $2,945,320.38. Following the completion of the transaction, the chief financial officer directly owned 3,691 shares of the company's stock, valued at $4,179,614.58. The trade was a 41.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 186,723 shares of company stock valued at $223,307,201. Corporate insiders own 1.37% of the company's stock.

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.