Montag A & Associates Inc. Buys 2,533 Shares of Netflix, Inc. (NASDAQ:NFLX)

Montag A & Associates Inc. raised its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 37.6% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 9,268 shares of the Internet television network's stock after purchasing an additional 2,533 shares during the period. Montag A & Associates Inc.'s holdings in Netflix were worth $8,643,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Halbert Hargrove Global Advisors LLC lifted its position in shares of Netflix by 100.0% in the first quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock valued at $25,000 after acquiring an additional 13 shares in the last quarter. Brown Shipley& Co Ltd purchased a new stake in shares of Netflix in the fourth quarter worth about $27,000. Transce3nd LLC purchased a new stake in shares of Netflix in the fourth quarter worth about $32,000. Copia Wealth Management purchased a new stake in shares of Netflix in the fourth quarter worth about $37,000. Finally, Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of Netflix in the first quarter worth about $42,000. Institutional investors own 80.93% of the company's stock.

Netflix Stock Performance

Shares of NFLX stock opened at $1,209.24 on Friday. The firm has a market capitalization of $514.62 billion, a price-to-earnings ratio of 51.52, a price-to-earnings-growth ratio of 2.19 and a beta of 1.59. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.20 and a quick ratio of 1.20. The business has a fifty day moving average of $1,232.59 and a 200 day moving average of $1,061.94. Netflix, Inc. has a 1 year low of $587.04 and a 1 year high of $1,341.15.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share for the quarter, topping the consensus estimate of $7.07 by $0.12. The company had revenue of $11.08 billion for the quarter, compared to the consensus estimate of $11.04 billion. Netflix had a return on equity of 43.00% and a net margin of 24.58%. The firm's revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period last year, the firm earned $4.88 EPS. As a group, research analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current year.

Insider Activity

In other news, Director Reed Hastings sold 16,840 shares of the firm's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $1,295.78, for a total transaction of $21,820,935.20. Following the sale, the director directly owned 10,067 shares in the company, valued at $13,044,617.26. This trade represents a 62.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Spencer Adam Neumann sold 2,601 shares of Netflix stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $1,307.22, for a total value of $3,400,079.22. Following the completion of the sale, the chief financial officer 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. Over the last three months, insiders sold 186,723 shares of company stock worth $223,307,201. 1.37% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on NFLX shares. Evercore ISI reiterated an "outperform" rating on shares of Netflix in a research report on Thursday, May 15th. FBN Securities assumed coverage on Netflix in a research report on Thursday, March 27th. They set an "outperform" rating and a $1,165.00 price objective on the stock. BMO Capital Markets restated an "outperform" rating and set a $1,425.00 price objective (up from $1,200.00) on shares of Netflix in a research report on Tuesday, July 15th. TD Cowen upped their price objective on Netflix from $1,440.00 to $1,450.00 and gave the company a "buy" rating in a research report on Friday. Finally, Wells Fargo & Company upped their price objective on Netflix from $1,500.00 to $1,560.00 and gave the company an "overweight" rating in a research report on Friday. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Netflix currently has a consensus rating of "Moderate Buy" and an average price target of $1,291.41.

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.

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