NorthCrest Asset Manangement LLC Grows Position in Netflix, Inc. (NASDAQ:NFLX)

NorthCrest Asset Manangement LLC grew its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 11.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,557 shares of the Internet television network's stock after purchasing an additional 374 shares during the period. NorthCrest Asset Manangement LLC's holdings in Netflix were worth $3,317,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of NFLX. Capital & Planning LLC acquired a new stake in Netflix during the 4th quarter worth about $809,000. Brighton Jones LLC boosted its stake in shares of Netflix by 5.0% in the fourth quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network's stock worth $4,804,000 after buying an additional 257 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new stake in Netflix during the fourth quarter worth about $12,212,000. Revolve Wealth Partners LLC raised its position in Netflix by 16.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network's stock valued at $912,000 after acquiring an additional 144 shares in the last quarter. Finally, Leavell Investment Management Inc. raised its position in Netflix by 5.8% during the fourth quarter. Leavell Investment Management Inc. now owns 658 shares of the Internet television network's stock valued at $586,000 after acquiring an additional 36 shares in the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Citigroup restated a "neutral" rating and issued a $1,250.00 price objective (up previously from $1,020.00) on shares of Netflix in a research report on Thursday, May 29th. KeyCorp boosted their target price on shares of Netflix from $1,000.00 to $1,070.00 and gave the company an "overweight" rating in a research note on Monday, April 21st. Oppenheimer raised their price target on shares of Netflix from $1,200.00 to $1,425.00 and gave the company an "outperform" rating in a research report on Thursday. Wolfe Research set a $1,340.00 price objective on shares of Netflix and gave the company an "outperform" rating in a report on Friday, May 16th. Finally, Phillip Securities raised shares of Netflix from a "moderate sell" rating to a "hold" rating in a research note on Monday, April 21st. Eleven research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Netflix currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,156.73.

Netflix Price Performance

Shares of NASDAQ:NFLX traded down $2.88 during midday trading on Friday, hitting $1,212.15. The company's stock had a trading volume of 2,209,188 shares, compared to its average volume of 3,763,914. The company has a market cap of $515.86 billion, a P/E ratio of 61.13, a price-to-earnings-growth ratio of 2.12 and a beta of 1.59. Netflix, Inc. has a 12-month low of $587.04 and a 12-month high of $1,262.81. The business's 50 day simple moving average is $1,120.37 and its 200 day simple moving average is $999.25. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22.

Netflix (NASDAQ:NFLX - Get Free Report) last released its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, beating analysts' consensus estimates of $5.74 by $0.87. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The company had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $10.51 billion. During the same quarter in the prior year, the firm earned $8.28 EPS. On average, analysts forecast that Netflix, Inc. will post 24.58 EPS for the current year.

Insider Activity

In other Netflix news, Chairman Reed Hastings sold 25,360 shares of Netflix stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $921.15, for a total transaction of $23,360,364.00. Following the transaction, the chairman now directly owns 394 shares of the company's stock, valued at $362,933.10. The trade was a 98.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Spencer Adam Neumann sold 2,601 shares of the business's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $921.72, for a total transaction of $2,397,393.72. Following the completion of the transaction, the chief financial officer now owns 3,691 shares in the company, valued at $3,402,068.52. The trade was a 41.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 185,140 shares of company stock worth $210,271,552 over the last ninety days. Corporate 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.