Main Street Research LLC Grows Position in Netflix, Inc. (NASDAQ:NFLX)

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

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Netflix by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 37,488,005 shares of the Internet television network's stock worth $33,413,809,000 after buying an additional 171,712 shares in the last quarter. FMR LLC grew its stake in shares of Netflix by 1.8% in the 4th quarter. FMR LLC now owns 20,887,090 shares of the Internet television network's stock valued at $18,617,081,000 after buying an additional 375,234 shares during the period. Geode Capital Management LLC raised its stake in Netflix by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 9,323,952 shares of the Internet television network's stock worth $8,287,823,000 after buying an additional 175,596 shares during the period. GAMMA Investing LLC boosted its holdings in Netflix by 109,524.3% in the first quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network's stock worth $8,239,576,000 after acquiring an additional 8,827,662 shares in the last quarter. Finally, Norges Bank acquired a new stake in Netflix in the fourth quarter valued at approximately $5,019,087,000. Institutional investors own 80.93% of the company's stock.

Netflix Trading Up 1.0%

Shares of Netflix stock traded up $12.97 during trading on Wednesday, reaching $1,288.28. The company's stock had a trading volume of 2,380,931 shares, compared to its average volume of 3,764,707. 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, Inc. has a 52-week low of $587.04 and a 52-week high of $1,341.15. The firm's 50-day moving average is $1,214.45 and its two-hundred day moving average is $1,042.85. The company has a market cap of $548.25 billion, a price-to-earnings ratio of 60.88, a PEG ratio of 2.32 and a beta of 1.59.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.74 by $0.87. The business had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.51 billion. Netflix had a net margin of 23.07% and a return on equity of 39.61%. During the same period in the prior year, the business posted $8.28 earnings per share. On average, sell-side analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on NFLX shares. Wedbush reiterated an "outperform" rating and issued a $1,200.00 target price on shares of Netflix in a research note on Monday, May 5th. Wolfe Research set a $1,340.00 target price on Netflix and gave the stock an "outperform" rating in a research note on Friday, May 16th. Piper Sandler set a $1,150.00 price objective on shares of Netflix and gave the stock an "overweight" rating in a research report on Monday, April 21st. Pivotal Research boosted their target price on shares of Netflix from $1,350.00 to $1,600.00 and gave the company a "buy" rating in a research note on Friday, June 20th. Finally, Benchmark restated a "hold" rating on shares of Netflix in a research note on Monday, April 21st. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $1,185.61.

Insider Activity

In other Netflix news, CAO Jeffrey William Karbowski sold 620 shares of the firm's stock in a transaction dated 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 is available through the SEC website. Also, Director Ann Mather sold 1,090 shares of Netflix stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $1,250.00, for a total value of $1,362,500.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 186,723 shares of company stock valued at $223,307,201. Corporate 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.