Netflix, Inc. (NASDAQ:NFLX) Position Increased by Encompass More Asset Management

Key Points

• Encompass More Asset Management increased its stake in Netflix, Inc. by 204.8%, owning 1,277 shares valued at $1,191,000 after acquiring additional shares in Q1.
• Netflix reported earnings of $7.19 per share for the last quarter, surpassing the consensus estimate, along with a revenue increase of 15.9% year-over-year.
• Analyst ratings for Netflix show a consensus of "Moderate Buy" with 23 analysts rating it a buy, while three rate it a sell.

Encompass More Asset Management increased its holdings in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 204.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,277 shares of the Internet television network's stock after buying an additional 858 shares during the quarter. Encompass More Asset Management's holdings in Netflix were worth $1,191,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Halbert Hargrove Global Advisors LLC increased 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 buying an additional 13 shares in the last quarter. Brown Shipley& Co Ltd acquired a new position in Netflix during the fourth quarter worth $27,000. Transce3nd LLC acquired a new stake in shares of Netflix in the fourth quarter valued at about $32,000. Copia Wealth Management purchased a new position in Netflix in the 4th quarter valued at about $37,000. Finally, Stuart Chaussee & Associates Inc. boosted its holdings in Netflix by 4,500.0% in the 4th quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network's stock worth $41,000 after buying an additional 45 shares during the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Stock Performance

Shares of NFLX stock traded down $23.12 during midday trading on Tuesday, hitting $1,147.87. The company had a trading volume of 2,650,494 shares, compared to its average volume of 4,024,204. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.34 and a quick ratio of 1.34. The stock has a market cap of $487.76 billion, a price-to-earnings ratio of 48.91, a PEG ratio of 1.97 and a beta of 1.59. The company's 50 day simple moving average is $1,234.03 and its 200 day simple moving average is $1,087.86. Netflix, Inc. has a 52-week low of $600.62 and a 52-week high of $1,341.15.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.07 by $0.12. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The firm had revenue of $11.08 billion during the quarter, compared to analysts' expectations of $11.04 billion. During the same period in the prior year, the company posted $4.88 earnings per share. The firm's revenue for the quarter was up 15.9% on a year-over-year basis. Research analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Netflix news, Director Jay C. Hoag sold 31,750 shares of the business's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $1,252.35, for a total transaction of $39,762,112.50. Following the completion of the sale, the director owned 63,040 shares of the company's stock, valued at approximately $78,948,144. The trade was a 33.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Reed Hastings sold 26,933 shares of the company's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $1,211.66, for a total value of $32,633,638.78. Following the completion of the sale, the director directly owned 394 shares of the company's stock, valued at $477,394.04. The trade was a 98.56% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 146,483 shares of company stock valued at $179,492,976. 1.37% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

NFLX has been the topic of a number of research analyst reports. Benchmark reaffirmed a "hold" rating on shares of Netflix in a research note on Monday, April 21st. BMO Capital Markets reaffirmed an "outperform" rating and set a $1,425.00 target price (up previously from $1,200.00) on shares of Netflix in a research note on Tuesday, July 15th. TD Cowen upped their target price on shares of Netflix from $1,440.00 to $1,450.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Seaport Res Ptn downgraded shares of Netflix from a "strong-buy" rating to a "hold" rating in a research note on Sunday, July 6th. Finally, Robert W. Baird upped their price objective on shares of Netflix from $1,300.00 to $1,500.00 and gave the company an "outperform" rating in a research note on Monday, July 21st. Three analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $1,297.66.

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.