Physicians Financial Services Inc. Invests $613,000 in Netflix, Inc. (NASDAQ:NFLX)

Key Points

• Physicians Financial Services Inc. acquired a new stake in Netflix, buying 657 shares valued at approximately $613,000 during the 1st quarter, as reported in their latest 13F filing.
• Notable increases in holdings were reported by GAMMA Investing LLC and Massachusetts Financial Services Co. MA, with GAMMA increasing its position by over 109,524% in the 1st quarter alone.
• Netflix reported earnings of $7.19 per share for the last quarter, surpassing analyst expectations, with revenue totaling $11.08 billion, marking a 15.9% year-over-year increase.

Physicians Financial Services Inc. bought a new position in Netflix, Inc. (NASDAQ:NFLX - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 657 shares of the Internet television network's stock, valued at approximately $613,000.

Several other large investors have also recently added to or reduced their stakes in the stock. FMR LLC grew its stake in shares of Netflix by 1.8% in the fourth quarter. FMR LLC now owns 20,887,090 shares of the Internet television network's stock worth $18,617,081,000 after purchasing an additional 375,234 shares in the last quarter. Geode Capital Management LLC boosted its stake in Netflix by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 9,323,952 shares of the Internet television network's stock valued at $8,287,823,000 after buying an additional 175,596 shares in the last quarter. GAMMA Investing LLC boosted its stake in Netflix by 109,524.3% during the first quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network's stock valued at $8,239,576,000 after buying an additional 8,827,662 shares in the last quarter. Alliancebernstein L.P. boosted its stake in Netflix by 1.6% during the fourth quarter. Alliancebernstein L.P. now owns 5,141,328 shares of the Internet television network's stock valued at $4,582,568,000 after buying an additional 82,564 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in Netflix by 14.3% during the fourth quarter. Northern Trust Corp now owns 4,574,006 shares of the Internet television network's stock valued at $4,076,903,000 after buying an additional 570,674 shares in the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NFLX has been the subject of several research reports. KeyCorp raised their target price on Netflix from $1,070.00 to $1,390.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Seaport Res Ptn cut Netflix from a "strong-buy" rating to a "hold" rating in a research note on Sunday, July 6th. Sanford C. Bernstein raised their target price on Netflix from $1,200.00 to $1,390.00 and gave the company an "outperform" rating in a research note on Thursday, July 17th. Wolfe Research set a $1,340.00 target price on Netflix and gave the company an "outperform" rating in a report on Friday, May 16th. Finally, Benchmark reaffirmed a "hold" rating on shares of Netflix in a report on Monday, April 21st. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $1,297.66.

Insiders Place Their Bets

In other Netflix news, CFO Spencer Adam Neumann sold 2,601 shares of the business's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $1,211.67, for a total transaction of $3,151,553.67. Following the sale, the chief financial officer owned 3,691 shares of the company's stock, valued at $4,472,273.97. The trade was a 41.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jay C. Hoag sold 31,750 shares of the company's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $1,252.35, for a total transaction of $39,762,112.50. Following the completion of the transaction, the director directly owned 63,040 shares in the company, valued at approximately $78,948,144. The trade was a 33.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 123,830 shares of company stock valued at $153,102,930 in the last quarter. 1.37% of the stock is currently owned by company insiders.

Netflix Stock Down 1.3%

NFLX stock traded down $14.88 during mid-day trading on Thursday, reaching $1,169.32. 1,973,243 shares of the company traded hands, compared to its average volume of 4,261,498. Netflix, Inc. has a fifty-two week low of $587.04 and a fifty-two week high of $1,341.15. The firm's 50 day moving average price is $1,235.42 and its 200 day moving average price is $1,077.88. The stock has a market cap of $496.88 billion, a price-to-earnings ratio of 49.87, a P/E/G ratio of 1.97 and a beta of 1.59. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.58.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share for the quarter, topping analysts' consensus estimates of $7.07 by $0.12. Netflix had a return on equity of 42.50% and a net margin of 24.58%. The firm had revenue of $11.08 billion for the quarter, compared to the consensus estimate of $11.04 billion. During the same quarter in the previous year, the business earned $4.88 EPS. The company's revenue was up 15.9% compared to the same quarter last year. As a group, equities research analysts predict that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

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.