QRG Capital Management Inc. Purchases 9,128 Shares of Netflix, Inc. (NASDAQ:NFLX)

QRG Capital Management Inc. raised its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 9.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 104,691 shares of the Internet television network's stock after purchasing an additional 9,128 shares during the quarter. Netflix makes up approximately 1.0% of QRG Capital Management Inc.'s holdings, making the stock its 14th biggest position. QRG Capital Management Inc.'s holdings in Netflix were worth $97,628,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Netflix by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 37,488,005 shares of the Internet television network's stock worth $33,413,809,000 after acquiring an additional 171,712 shares in the last quarter. FMR LLC increased its position in Netflix by 1.8% during the fourth quarter. FMR LLC now owns 20,887,090 shares of the Internet television network's stock worth $18,617,081,000 after buying an additional 375,234 shares during the last quarter. Geode Capital Management LLC raised its holdings in Netflix by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 9,323,952 shares of the Internet television network's stock valued at $8,287,823,000 after buying an additional 175,596 shares in the last quarter. GAMMA Investing LLC lifted 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 worth $8,239,576,000 after buying an additional 8,827,662 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Netflix during the 4th quarter worth about $5,019,087,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Trading Up 1.1%

NASDAQ NFLX traded up $13.20 during trading on Monday, reaching $1,225.35. 2,109,223 shares of the stock traded hands, compared to its average volume of 3,754,564. The stock's 50-day moving average price is $1,120.37 and its 200 day moving average price is $1,000.96. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. The firm has a market cap of $521.47 billion, a price-to-earnings ratio of 61.79, a price-to-earnings-growth ratio of 2.12 and a beta of 1.59. Netflix, Inc. has a fifty-two week low of $587.04 and a fifty-two week high of $1,262.81.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, topping the consensus estimate of $5.74 by $0.87. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The firm had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.51 billion. During the same period in the previous year, the company posted $8.28 earnings per share. Analysts predict that Netflix, Inc. will post 24.58 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NFLX. Morgan Stanley upped their target price on Netflix from $1,150.00 to $1,200.00 and gave the stock an "overweight" rating in a research report on Monday, April 21st. Jefferies Financial Group raised their target price on shares of Netflix from $1,200.00 to $1,400.00 and gave the company a "buy" rating in a research note on Tuesday, June 3rd. Loop Capital reissued a "hold" rating on shares of Netflix in a research report on Monday, March 24th. Cfra Research upgraded shares of Netflix to a "strong-buy" rating in a report on Monday, April 28th. Finally, Rosenblatt Securities lifted their price objective on Netflix from $1,494.00 to $1,514.00 and gave the stock a "buy" rating in a research note on Monday, April 21st. Eleven equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Netflix currently has a consensus rating of "Moderate Buy" and an average price target of $1,156.73.

Insider Buying and Selling at Netflix

In other news, insider Cletus R. Willems sold 298 shares of the firm's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $1,138.00, for a total value of $339,124.00. Following the completion of the transaction, the insider now owns 31,610 shares in the company, valued at $35,972,180. This trade represents a 0.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Jeffrey William Karbowski sold 480 shares of the company's stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $978.18, for a total value of $469,526.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 185,140 shares of company stock valued at $210,271,552. 1.37% of the stock is currently owned by corporate insiders.

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.