Netflix, Inc. (NASDAQ:NFLX) Stock Position Boosted by New Wave Wealth Advisors LLC

New Wave Wealth Advisors LLC boosted its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 83.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,221 shares of the Internet television network's stock after buying an additional 1,467 shares during the period. Netflix accounts for 1.3% of New Wave Wealth Advisors LLC's portfolio, making the stock its 23rd biggest holding. New Wave Wealth Advisors LLC's holdings in Netflix were worth $3,004,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Halbert Hargrove Global Advisors LLC boosted 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 worth $25,000 after buying an additional 13 shares during the period. Brown Shipley& Co Ltd acquired a new position in shares of Netflix in the fourth quarter worth about $27,000. Transce3nd LLC purchased a new stake in shares of Netflix in the fourth quarter worth approximately $32,000. Copia Wealth Management purchased a new stake in shares of Netflix in the fourth quarter worth approximately $37,000. Finally, Stuart Chaussee & Associates Inc. boosted its holdings in shares of Netflix by 4,500.0% during the fourth quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network's stock worth $41,000 after purchasing an additional 45 shares during the period. 80.93% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Netflix

In related news, Director Ann Mather sold 1,358 shares of the stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $1,150.00, for a total transaction of $1,561,700.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jay C. Hoag sold 32,515 shares of the stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $1,101.97, for a total value of $35,830,554.55. Following the sale, the director now directly owns 79,040 shares of the company's stock, valued at approximately $87,099,708.80. The trade was a 29.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 185,280 shares of company stock worth $210,599,866 in the last ninety days. Company insiders own 1.37% of the company's stock.

Netflix Stock Up 1.3%

Shares of NASDAQ NFLX opened at $1,323.12 on Monday. The firm's 50-day simple moving average is $1,183.25 and its 200 day simple moving average is $1,024.87. The company has a market cap of $563.08 billion, a price-to-earnings ratio of 62.53, a price-to-earnings-growth ratio of 2.56 and a beta of 1.59. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.58. Netflix, Inc. has a 12-month low of $587.04 and a 12-month high of $1,331.35.

Netflix (NASDAQ:NFLX - Get Free Report) last released its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.74 by $0.87. Netflix had a net margin of 23.07% and a return on equity of 39.61%. The company had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.51 billion. During the same period in the prior year, the company posted $8.28 EPS. On average, research analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

NFLX has been the subject of several research reports. Macquarie raised their price target on shares of Netflix from $1,150.00 to $1,200.00 and gave the stock an "outperform" rating in a report on Monday, April 21st. Morgan Stanley raised their price target on shares of Netflix from $1,150.00 to $1,200.00 and gave the stock an "overweight" rating in a report on Monday, April 21st. Wolfe Research set a $1,340.00 price target on shares of Netflix and gave the stock an "outperform" rating in a report on Friday, May 16th. Phillip Securities upgraded shares of Netflix from a "moderate sell" rating to a "hold" rating in a report on Monday, April 21st. Finally, Wedbush restated an "outperform" rating and set a $1,200.00 price target on shares of Netflix in a report on Monday, May 5th. Eleven analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Netflix presently has an average rating of "Moderate Buy" and an average target price of $1,172.73.

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.

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