Wealth Effects LLC Buys 840 Shares of Netflix, Inc. (NASDAQ:NFLX)

Wealth Effects LLC grew its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 176.8% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,315 shares of the Internet television network's stock after purchasing an additional 840 shares during the period. Wealth Effects LLC's holdings in Netflix were worth $1,226,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Halbert Hargrove Global Advisors LLC grew its holdings 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 bought a new position in shares of Netflix in the fourth quarter valued at approximately $27,000. Transce3nd LLC bought a new position in shares of Netflix in the fourth quarter valued at approximately $32,000. Copia Wealth Management bought a new position in shares of Netflix in the fourth quarter valued at approximately $37,000. Finally, Stuart Chaussee & Associates Inc. grew its holdings in shares of Netflix by 4,500.0% in the fourth quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network's stock valued at $41,000 after acquiring an additional 45 shares in the last quarter. 80.93% of the stock is owned by institutional investors.

Insider Activity at Netflix

In related news, Director Jay C. Hoag sold 31,750 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $1,252.35, for a total value of $39,762,112.50. Following the transaction, the director now owns 63,040 shares of the company's stock, valued at $78,948,144. This represents 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 available through the SEC website. Also, CAO Jeffrey William Karbowski sold 620 shares of the stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $1,286.84, for a total value of $797,840.80. The disclosure for this sale can be found here. Insiders have sold a total of 185,280 shares of company stock valued at $210,599,866 over the last 90 days. 1.37% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on NFLX shares. Canaccord Genuity Group upped their target price on Netflix from $1,200.00 to $1,380.00 and gave the company a "buy" rating in a report on Friday, May 16th. Phillip Securities raised Netflix from a "moderate sell" rating to a "hold" rating in a report on Monday, April 21st. Rosenblatt Securities upped their target price on Netflix from $1,494.00 to $1,514.00 and gave the company a "buy" rating in a report on Monday, April 21st. Pivotal Research upped their price objective on Netflix from $1,350.00 to $1,600.00 and gave the company a "buy" rating in a research note on Friday, June 20th. Finally, Moffett Nathanson reiterated a "buy" rating and issued a $1,150.00 price objective (up previously from $1,100.00) on shares of Netflix in a research note on Friday, April 18th. Eleven research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Netflix has a consensus rating of "Moderate Buy" and an average target price of $1,172.73.

Netflix Price Performance

Shares of Netflix stock traded up $16.45 during trading on Friday, hitting $1,323.12. The stock had a trading volume of 4,066,251 shares, compared to its average volume of 3,745,947. The firm has a market cap of $563.08 billion, a price-to-earnings ratio of 62.53, a P/E/G ratio of 2.53 and a beta of 1.59. Netflix, Inc. has a 12 month low of $587.04 and a 12 month high of $1,330.72. The business's 50-day moving average is $1,176.24 and its 200 day moving average is $1,020.75. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.58.

Netflix (NASDAQ:NFLX - Get Free Report) last released its quarterly 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. The firm 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 quarter in the prior year, the firm posted $8.28 earnings per share. As a group, sell-side analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current year.

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.