Axxcess Wealth Management LLC Has $24.34 Million Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Axxcess Wealth Management LLC raised its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 3.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,197 shares of the Internet television network's stock after acquiring an additional 801 shares during the period. Axxcess Wealth Management LLC's holdings in Netflix were worth $24,336,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC raised its holdings in Netflix by 5.0% during the fourth quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network's stock worth $4,804,000 after purchasing an additional 257 shares in the last quarter. Revolve Wealth Partners LLC grew its position in Netflix by 16.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network's stock worth $912,000 after purchasing an additional 144 shares in the last quarter. BIP Wealth LLC lifted its position in shares of Netflix by 23.8% in the fourth quarter. BIP Wealth LLC now owns 453 shares of the Internet television network's stock worth $403,000 after purchasing an additional 87 shares in the last quarter. Proficio Capital Partners LLC grew its stake in Netflix by 39.1% in the fourth quarter. Proficio Capital Partners LLC now owns 2,161 shares of the Internet television network's stock valued at $1,926,000 after purchasing an additional 607 shares in the last quarter. Finally, Moran Wealth Management LLC grew its stake in shares of Netflix by 6.9% in the 4th quarter. Moran Wealth Management LLC now owns 2,851 shares of the Internet television network's stock valued at $2,541,000 after buying an additional 185 shares in the last quarter. 80.93% of the stock is owned by institutional investors.

Netflix Price Performance

Shares of NASDAQ:NFLX traded up $12.97 during midday 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 3,760,058. The business's fifty day simple moving average is $1,214.45 and its 200-day simple moving average is $1,042.85. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.20 and a quick ratio of 1.20. 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 capitalization of $548.25 billion, a P/E ratio of 60.88, a P/E/G ratio of 2.34 and a beta of 1.59.

Netflix (NASDAQ:NFLX - Get Free Report) last released its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, beating the consensus estimate of $5.74 by $0.87. The business had revenue of $10.54 billion for the quarter, compared to analysts' expectations 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 firm earned $8.28 earnings per share. As a group, equities research analysts expect that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Needham & Company LLC reaffirmed a "buy" rating and set a $1,126.00 target price on shares of Netflix in a research report on Thursday, April 17th. Pivotal Research boosted their price objective on shares of Netflix from $1,350.00 to $1,600.00 and gave the stock a "buy" rating in a research note on Friday, June 20th. Citigroup reiterated a "neutral" rating and issued a $1,250.00 target price (up from $1,020.00) on shares of Netflix in a research note on Thursday, May 29th. Wolfe Research set a $1,340.00 target price on shares of Netflix and gave the stock an "outperform" rating in a research report on Friday, May 16th. Finally, Jefferies Financial Group raised 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. One analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $1,185.61.

Insider Buying and Selling

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

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.