NRI Wealth Management LC increased its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 6.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,797 shares of the Internet television network's stock after acquiring an additional 238 shares during the quarter. Netflix comprises 2.6% of NRI Wealth Management LC's holdings, making the stock its 10th largest holding. NRI Wealth Management LC's holdings in Netflix were worth $3,541,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC increased its holdings in 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 purchasing an additional 257 shares in the last quarter. Revolve Wealth Partners LLC increased its holdings in Netflix by 16.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network's stock worth $912,000 after purchasing an additional 144 shares in the last quarter. J. W. Coons Advisors LLC bought a new stake in Netflix in the fourth quarter worth approximately $205,000. IFP Advisors Inc increased its holdings in shares of Netflix by 20.9% during the fourth quarter. IFP Advisors Inc now owns 4,589 shares of the Internet television network's stock valued at $4,091,000 after acquiring an additional 792 shares in the last quarter. Finally, Crestwood Advisors Group LLC increased its holdings in shares of Netflix by 6.3% during the fourth quarter. Crestwood Advisors Group LLC now owns 3,217 shares of the Internet television network's stock valued at $2,867,000 after acquiring an additional 190 shares in the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently commented on the company. Morgan Stanley boosted their price objective on Netflix from $1,150.00 to $1,200.00 and gave the company an "overweight" rating in a report on Monday, April 21st. FBN Securities began coverage on Netflix in a report on Thursday, March 27th. They set an "outperform" rating and a $1,165.00 price objective for the company. Benchmark reiterated a "hold" rating on shares of Netflix in a report on Monday, April 21st. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $1,220.00 price target (up previously from $1,150.00) on shares of Netflix in a report on Monday, May 19th. Finally, Jefferies Financial Group upped their price target on Netflix from $1,200.00 to $1,400.00 and gave the stock a "buy" rating in a report on Tuesday, June 3rd. Eleven 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $1,172.73.
Get Our Latest Report on Netflix
Netflix Stock Performance
NASDAQ:NFLX traded up $16.45 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 stock has a market cap of $563.08 billion, a price-to-earnings ratio of 62.53, a price-to-earnings-growth ratio of 2.53 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. The business's 50-day simple moving average is $1,183.25 and its two-hundred day simple moving average is $1,023.58. Netflix, Inc. has a 52-week low of $587.04 and a 52-week high of $1,331.35.
Netflix (NASDAQ:NFLX - Get Free Report) last announced its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.74 by $0.87. The business had revenue of $10.54 billion for the quarter, compared to analysts' expectations 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 firm posted $8.28 earnings per share. As a group, research analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current year.
Insider Activity
In related news, insider Cletus R. Willems sold 298 shares of Netflix stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $1,138.00, for a total transaction of $339,124.00. Following the sale, the insider now owns 31,610 shares of the company's stock, valued at approximately $35,972,180. This trade represents a 0.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jay C. Hoag sold 32,515 shares of Netflix stock in a transaction that occurred on Tuesday, April 29th. The shares were 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 in the company, valued at $87,099,708.80. This trade represents a 29.15% decrease in their position. 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 in the last ninety days. Corporate insiders own 1.37% of the company's stock.
About Netflix
(
Free Report)
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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