New Covenant Trust Company N.A. Boosts Stake in Netflix, Inc. (NASDAQ:NFLX)

New Covenant Trust Company N.A. lifted its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 71.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 503 shares of the Internet television network's stock after acquiring an additional 210 shares during the quarter. New Covenant Trust Company N.A.'s holdings in Netflix were worth $470,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Halbert Hargrove Global Advisors LLC lifted 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 acquiring an additional 13 shares in the last quarter. Brown Shipley& Co Ltd purchased a new position in shares of Netflix in the fourth quarter valued at approximately $27,000. Transce3nd LLC purchased a new position in shares of Netflix in the fourth quarter valued at approximately $32,000. Copia Wealth Management purchased a new position in shares of Netflix in the fourth quarter valued at approximately $37,000. Finally, Stuart Chaussee & Associates Inc. lifted its position 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 hedge funds and other institutional investors.

Netflix Stock Up 1.3%

NASDAQ:NFLX traded up $16.45 during midday trading on Friday, reaching $1,323.12. The company had a trading volume of 4,066,251 shares, compared to its average volume of 3,745,947. The firm has a market capitalization of $563.08 billion, a price-to-earnings ratio of 62.53, a PEG ratio of 2.53 and a beta of 1.59. The stock's fifty day simple moving average is $1,183.25 and its 200-day simple moving average is $1,023.58. Netflix, Inc. has a 12-month low of $587.04 and a 12-month high of $1,331.35. 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 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. The firm had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.51 billion. Netflix had a return on equity of 39.61% and a net margin of 23.07%. During the same period last year, the business posted $8.28 earnings per share. On average, sell-side analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

NFLX has been the topic of several research reports. Cfra Research upgraded Netflix to a "strong-buy" rating in a research report on Monday, April 28th. UBS Group increased their price target on Netflix from $1,150.00 to $1,450.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. Moffett Nathanson reaffirmed a "buy" rating and issued a $1,150.00 price target (up previously from $1,100.00) on shares of Netflix in a report on Friday, April 18th. BMO Capital Markets reaffirmed an "outperform" rating and issued a $1,200.00 price target (up previously from $1,175.00) on shares of Netflix in a report on Friday, April 18th. Finally, Bank of America increased their price target on Netflix from $1,175.00 to $1,490.00 and gave the company a "buy" rating in a report on Friday, May 30th. Eleven investment 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. Based on data from MarketBeat.com, Netflix has a consensus rating of "Moderate Buy" and a consensus price target of $1,172.73.

Insider Activity at Netflix

In other Netflix news, CAO Jeffrey William Karbowski sold 620 shares of Netflix 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jay C. Hoag sold 31,750 shares of Netflix stock in a transaction dated 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 sale, the director now directly owns 63,040 shares of the company's stock, valued at $78,948,144. This trade represents a 33.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 185,280 shares of company stock worth $210,599,866. Company insiders own 1.37% of the company's stock.

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.