Netflix, Inc. (NASDAQ:NFLX) Position Boosted by Money Concepts Capital Corp

Money Concepts Capital Corp raised its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 58.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,247 shares of the Internet television network's stock after acquiring an additional 461 shares during the quarter. Money Concepts Capital Corp's holdings in Netflix were worth $1,163,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. GAMMA Investing LLC grew its position in shares of 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 valued at $8,239,576,000 after purchasing an additional 8,827,662 shares during the period. Norges Bank purchased a new stake in shares of Netflix in the fourth quarter valued at $5,019,087,000. Arrowstreet Capital Limited Partnership grew its position in shares of Netflix by 59.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,301,098 shares of the Internet television network's stock valued at $2,051,016,000 after purchasing an additional 856,307 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of Netflix by 318.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 976,924 shares of the Internet television network's stock valued at $870,752,000 after purchasing an additional 743,724 shares during the period. Finally, Northern Trust Corp grew its position in shares of Netflix by 14.3% in 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 purchasing an additional 570,674 shares during the period. 80.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. KeyCorp lifted their price objective on Netflix from $1,000.00 to $1,070.00 and gave the company an "overweight" rating in a research report on Monday, April 21st. Jefferies Financial Group boosted their price target on Netflix from $1,200.00 to $1,400.00 and gave the company a "buy" rating in a research report on Tuesday, June 3rd. Loop Capital reissued a "hold" rating on shares of Netflix in a research report on Monday, March 24th. Robert W. Baird boosted their price target on Netflix from $1,200.00 to $1,300.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. Finally, Rosenblatt Securities boosted their price target on Netflix from $1,494.00 to $1,514.00 and gave the company a "buy" rating in a research report on Monday, April 21st. Eleven research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,172.73.

Insider Buying and Selling at Netflix

In other news, CAO Jeffrey William Karbowski sold 160 shares of the company's stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $1,000.00, for a total transaction of $160,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Spencer Adam Neumann sold 2,601 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $921.72, for a total value of $2,397,393.72. Following the transaction, the chief financial officer now directly owns 3,691 shares of the company's stock, valued at $3,402,068.52. This trade represents a 41.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 185,280 shares of company stock worth $210,599,866 over the last quarter. 1.37% of the stock is owned by corporate insiders.

Netflix Stock Up 1.3%

NASDAQ NFLX traded up $16.45 on Friday, hitting $1,323.12. 4,066,251 shares of the stock traded hands, compared to its average volume of 3,747,286. The stock has a 50-day moving average of $1,183.25 and a 200 day moving average of $1,024.18. Netflix, Inc. has a twelve month low of $587.04 and a twelve month high of $1,331.35. The company has a market capitalization of $563.08 billion, a P/E ratio of 62.53, a price-to-earnings-growth ratio of 2.56 and a beta of 1.59. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.58.

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, beating the consensus estimate of $5.74 by $0.87. Netflix had a return on equity of 39.61% and a net margin of 23.07%. The firm had revenue of $10.54 billion for the quarter, compared to analysts' expectations of $10.51 billion. During the same quarter in the prior year, the firm posted $8.28 earnings per share. As a group, analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

About Netflix

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.