Penobscot Wealth Management Takes $217,000 Position in Netflix, Inc. (NASDAQ:NFLX)

Penobscot Wealth Management purchased a new stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 233 shares of the Internet television network's stock, valued at approximately $217,000.

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC increased its holdings in Netflix by 5.0% during the 4th quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network's stock worth $4,804,000 after acquiring an additional 257 shares during the period. Revolve Wealth Partners LLC raised its position in shares of 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 buying an additional 144 shares in the last quarter. Modera Wealth Management LLC boosted its stake in Netflix by 17.7% during the fourth quarter. Modera Wealth Management LLC now owns 2,070 shares of the Internet television network's stock valued at $1,845,000 after buying an additional 312 shares during the period. BIP Wealth LLC grew its holdings in shares of Netflix by 23.8% during the fourth quarter. BIP Wealth LLC now owns 453 shares of the Internet television network's stock worth $403,000 after purchasing an additional 87 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC raised its position in shares of Netflix by 0.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 33,820 shares of the Internet television network's stock valued at $30,144,000 after buying an additional 310 shares in the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Netflix Stock Down 0.7%

NASDAQ NFLX traded down $8.74 during trading hours on Wednesday, reaching $1,284.86. 3,045,565 shares of the company's stock traded hands, compared to its average volume of 3,753,798. The firm has a 50-day simple moving average of $1,195.33 and a 200 day simple moving average of $1,029.66. Netflix, Inc. has a 52-week low of $587.04 and a 52-week high of $1,341.15. The firm has a market cap of $546.80 billion, a PE ratio of 60.72, a PEG ratio of 2.59 and a beta of 1.59. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.20 and a quick ratio of 1.20.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its quarterly earnings data 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 return on equity of 39.61% and a net margin of 23.07%. The business had revenue of $10.54 billion during the quarter, compared to analysts' expectations of $10.51 billion. During the same quarter in the previous year, the business earned $8.28 earnings per share. Sell-side analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

NFLX has been the topic of several recent research reports. Pivotal Research increased their price objective on Netflix from $1,350.00 to $1,600.00 and gave the company a "buy" rating in a research report on Friday, June 20th. Robert W. Baird lifted their price target on shares of Netflix from $1,200.00 to $1,300.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. BMO Capital Markets restated an "outperform" rating and issued a $1,200.00 price objective (up from $1,175.00) on shares of Netflix in a report on Friday, April 18th. Rosenblatt Securities increased their target price on shares of Netflix from $1,494.00 to $1,514.00 and gave the company a "buy" rating in a report on Monday, April 21st. Finally, Wedbush reissued an "outperform" rating and issued a $1,200.00 price target on shares of Netflix in a research note 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 stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $1,182.58.

Insiders Place Their Bets

In other news, CEO Gregory K. Peters sold 2,027 shares of the company's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $1,141.51, for a total transaction of $2,313,840.77. Following the transaction, the chief executive officer directly owned 12,781 shares of the company's stock, valued at $14,589,639.31. This represents a 13.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Reed Hastings sold 26,977 shares of Netflix stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $1,133.05, for a total value of $30,566,289.85. Following the completion of the sale, the director owned 394 shares of the company's stock, valued at $446,421.70. The trade was a 98.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 157,319 shares of company stock valued at $184,842,109. 1.37% of the stock is owned by company insiders.

Netflix 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.