Novare Capital Management LLC Acquires Shares of 333 Netflix, Inc. (NASDAQ:NFLX)

Novare Capital Management LLC bought a new stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 333 shares of the Internet television network's stock, valued at approximately $311,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Adell Harriman & Carpenter Inc. raised its holdings in shares of Netflix by 4.7% during the first quarter. Adell Harriman & Carpenter Inc. now owns 1,489 shares of the Internet television network's stock valued at $1,389,000 after acquiring an additional 67 shares during the period. Concurrent Investment Advisors LLC increased its stake in Netflix by 18.3% in the 1st quarter. Concurrent Investment Advisors LLC now owns 14,146 shares of the Internet television network's stock valued at $13,191,000 after buying an additional 2,187 shares during the period. HM Payson & Co. increased its stake in Netflix by 1.9% in the 1st quarter. HM Payson & Co. now owns 2,170 shares of the Internet television network's stock valued at $2,024,000 after buying an additional 41 shares during the period. World Investment Advisors increased its stake in Netflix by 0.3% in the 1st quarter. World Investment Advisors now owns 4,340 shares of the Internet television network's stock valued at $4,048,000 after buying an additional 12 shares during the period. Finally, Wayfinding Financial LLC increased its stake in Netflix by 1.8% in the 1st quarter. Wayfinding Financial LLC now owns 776 shares of the Internet television network's stock valued at $723,000 after buying an additional 14 shares during the period. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Price Performance

Shares of NASDAQ:NFLX traded down $13.91 during midday trading on Tuesday, reaching $1,275.71. 1,615,401 shares of the company's stock were exchanged, compared to its average volume of 3,751,742. The company's 50 day simple moving average is $1,211.46 and its two-hundred day simple moving average is $1,041.22. The firm has a market capitalization of $542.91 billion, a PE ratio of 60.29, a price-to-earnings-growth ratio of 2.35 and a beta of 1.59. Netflix, Inc. has a 12 month low of $587.04 and a 12 month high of $1,341.15. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.20 and a current ratio of 1.20.

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

Analyst Ratings Changes

Several research firms have weighed in on NFLX. Loop Capital reiterated a "hold" rating on shares of Netflix in a research note on Monday, March 24th. Evercore ISI reiterated an "outperform" rating on shares of Netflix in a research note on Thursday, May 15th. Morgan Stanley increased their price target on shares of Netflix from $1,150.00 to $1,200.00 and gave the stock an "overweight" rating in a research note on Monday, April 21st. Citigroup restated a "neutral" rating and set a $1,250.00 price target (up previously from $1,020.00) on shares of Netflix in a research note on Thursday, May 29th. Finally, Wells Fargo & Company increased their price target on shares of Netflix from $1,222.00 to $1,500.00 and gave the stock an "overweight" rating in a research note on Friday, June 20th. Twelve equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Netflix has an average rating of "Moderate Buy" and a consensus price target of $1,182.58.

Insider Activity

In related news, Director Bradford L. Smith sold 3,919 shares of Netflix stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $1,124.26, for a total transaction of $4,405,974.94. Following the completion of the transaction, the director directly owned 7,969 shares of the company's stock, valued at $8,959,227.94. This trade represents a 32.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jay C. Hoag sold 32,515 shares of the firm's stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $1,101.97, for a total transaction of $35,830,554.55. Following the completion of the sale, the director owned 79,040 shares of the company's stock, valued at $87,099,708.80. The trade was a 29.15% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 186,723 shares of company stock valued at $223,307,201. Company insiders own 1.37% of the company's stock.

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.