Verdence Capital Advisors LLC Has $2.24 Million Holdings in Netflix, Inc. (NASDAQ:NFLX)

Verdence Capital Advisors LLC boosted its holdings in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 60.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,399 shares of the Internet television network's stock after buying an additional 901 shares during the quarter. Verdence Capital Advisors LLC's holdings in Netflix were worth $2,237,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Fullcircle Wealth LLC lifted its position in Netflix by 2.5% during the first quarter. Fullcircle Wealth LLC now owns 369 shares of the Internet television network's stock valued at $344,000 after purchasing an additional 9 shares during the last quarter. MRP Capital Investments LLC increased its stake in shares of Netflix by 1.0% in the fourth quarter. MRP Capital Investments LLC now owns 1,052 shares of the Internet television network's stock worth $938,000 after buying an additional 10 shares during the period. Bedell Frazier Investment Counselling LLC increased its position in Netflix by 2.2% during the 4th quarter. Bedell Frazier Investment Counselling LLC now owns 462 shares of the Internet television network's stock valued at $412,000 after purchasing an additional 10 shares during the period. Mission Creek Capital Partners Inc. increased its position in Netflix by 0.3% during the 4th quarter. Mission Creek Capital Partners Inc. now owns 3,826 shares of the Internet television network's stock valued at $3,410,000 after purchasing an additional 10 shares during the period. Finally, Continuum Wealth Advisors LLC increased its position in Netflix by 4.4% during the 1st quarter. Continuum Wealth Advisors LLC now owns 235 shares of the Internet television network's stock valued at $219,000 after purchasing an additional 10 shares during the period. Institutional investors and hedge funds own 80.93% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Needham & Company LLC restated a "buy" rating and set a $1,500.00 target price on shares of Netflix in a report on Friday. UBS Group reiterated a "market underperform" rating on shares of Netflix in a research note on Saturday. Cfra Research upgraded shares of Netflix to a "strong-buy" rating in a research note on Monday, April 28th. Moffett Nathanson reissued a "buy" rating and issued a $1,150.00 target price (up previously from $1,100.00) on shares of Netflix in a research report on Friday, April 18th. Finally, Robert W. Baird boosted their target price on Netflix from $1,200.00 to $1,300.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $1,275.30.

Netflix Trading Down 5.1%

Netflix stock traded down $64.93 during trading on Friday, hitting $1,209.24. The company's stock had a trading volume of 10,678,762 shares, compared to its average volume of 3,787,074. The stock has a market capitalization of $514.62 billion, a price-to-earnings ratio of 51.52, a P/E/G ratio of 2.30 and a beta of 1.59. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.20 and a current ratio of 1.20. The stock's fifty day moving average is $1,232.59 and its 200 day moving average is $1,060.77. 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 released its earnings results on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, topping analysts' consensus estimates 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%. Netflix's quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter last year, the business posted $4.88 EPS. As a group, equities research analysts predict that Netflix, Inc. will post 24.58 EPS for the current year.

Insiders Place Their Bets

In other Netflix news, CAO Jeffrey William Karbowski sold 620 shares of the firm's stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $1,286.84, for a total transaction of $797,840.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Strive Masiyiwa sold 290 shares of Netflix stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $1,336.54, for a total value of $387,596.60. The disclosure for this sale can be found here. Insiders have sold a total of 186,723 shares of company stock valued at $223,307,201 over the last quarter. 1.37% of the stock is owned by insiders.

Netflix Company Profile

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.