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

Main Street Research LLC increased its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 10,404.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,702 shares of the Internet television network's stock after acquiring an additional 41,305 shares during the quarter. Netflix comprises approximately 2.5% of Main Street Research LLC's investment 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 reporting period.

Other institutional investors have also recently bought and sold shares of the company. Halbert Hargrove Global Advisors LLC increased its stake in Netflix by 100.0% during the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock worth $25,000 after purchasing an additional 13 shares in the last quarter. Brown Shipley& Co Ltd acquired a new position in shares of Netflix in the fourth quarter valued at approximately $27,000. Transce3nd LLC bought a new stake in shares of Netflix during the fourth quarter worth $32,000. Copia Wealth Management bought a new stake in shares of Netflix during the fourth quarter worth $37,000. Finally, Stuart Chaussee & Associates Inc. raised its holdings in shares of Netflix by 4,500.0% during the fourth quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network's stock worth $41,000 after acquiring an additional 45 shares during the period. Institutional investors and hedge funds own 80.93% of the company's stock.

Insider Activity

In related news, Director Bradford L. Smith sold 3,919 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $1,124.26, for a total value of $4,405,974.94. Following the sale, the director directly owned 7,969 shares of the company's stock, valued at $8,959,227.94. This trade represents a 32.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Spencer Adam Neumann sold 2,601 shares of Netflix stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $1,132.38, for a total value of $2,945,320.38. Following the completion of the transaction, the chief financial officer owned 3,691 shares in the company, valued at approximately $4,179,614.58. This represents a 41.34% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 186,723 shares of company stock valued at $223,307,201. 1.37% of the stock is owned by insiders.

Netflix Price Performance

Shares of NFLX traded down $37.33 during trading hours on Thursday, hitting $1,250.95. 2,971,935 shares of the company were exchanged, compared to its average volume of 3,761,917. 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 fifty-two week low of $587.04 and a fifty-two week high of $1,341.15. The company has a market cap of $532.37 billion, a price-to-earnings ratio of 59.12, a P/E/G ratio of 2.32 and a beta of 1.59. The firm's fifty day moving average is $1,217.58 and its 200 day moving average is $1,044.54.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.74 by $0.87. The firm had revenue of $10.54 billion for the quarter, compared to the consensus estimate 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 company posted $8.28 earnings per share. On average, equities analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on NFLX shares. Jefferies Financial Group increased their target price on Netflix from $1,200.00 to $1,400.00 and gave the stock a "buy" rating in a report on Tuesday, June 3rd. Barclays reiterated a "sell" rating and set a $1,100.00 price objective (up from $1,000.00) on shares of Netflix in a report on Wednesday. Seaport Res Ptn lowered Netflix from a "strong-buy" rating to a "hold" rating in a research report on Sunday. Pivotal Research upped their price target on Netflix from $1,350.00 to $1,600.00 and gave the stock a "buy" rating in a research report on Friday, June 20th. Finally, Guggenheim reaffirmed a "buy" rating and set a $1,150.00 price target (up from $1,100.00) on shares of Netflix in a research note on Friday, April 18th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Netflix currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,195.30.

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.