Rainey & Randall Wealth Advisors Inc. Makes New Investment in Netflix, Inc. (NASDAQ:NFLX)

Rainey & Randall Wealth Advisors Inc. acquired a new stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 245 shares of the Internet television network's stock, valued at approximately $228,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC lifted its position in shares of Netflix by 109,524.3% during the 1st quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network's stock worth $8,239,576,000 after buying an additional 8,827,662 shares in the last quarter. Norges Bank bought a new position in shares of Netflix during the 4th quarter worth approximately $5,019,087,000. Arrowstreet Capital Limited Partnership lifted its position in shares of Netflix by 59.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,301,098 shares of the Internet television network's stock worth $2,051,016,000 after buying an additional 856,307 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Netflix by 318.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 976,924 shares of the Internet television network's stock worth $870,752,000 after buying an additional 743,724 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Netflix by 14.3% during the 4th quarter. Northern Trust Corp now owns 4,574,006 shares of the Internet television network's stock worth $4,076,903,000 after buying an additional 570,674 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company's stock.

Insider Activity at Netflix

In related news, CFO Spencer Adam Neumann sold 2,601 shares of the company's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $1,132.38, for a total value of $2,945,320.38. Following the completion of the transaction, the chief financial officer directly owned 3,691 shares in the company, valued at approximately $4,179,614.58. The trade was a 41.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jay C. Hoag sold 32,515 shares of the company's stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $1,101.97, for a total transaction of $35,830,554.55. Following the completion of the transaction, the director owned 79,040 shares of the company's stock, valued at $87,099,708.80. This trade represents a 29.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 186,723 shares of company stock valued at $223,307,201 over the last ninety days. 1.37% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on NFLX. Loop Capital reaffirmed a "hold" rating on shares of Netflix in a report on Monday, March 24th. 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 report on Friday, May 16th. Seaport Res Ptn cut shares of Netflix from a "strong-buy" rating to a "hold" rating in a report on Sunday, July 6th. Jefferies Financial Group lifted their price target on shares of Netflix from $1,200.00 to $1,400.00 and gave the stock a "buy" rating in a report on Tuesday, June 3rd. Finally, FBN Securities began coverage on shares of Netflix in a report on Thursday, March 27th. They issued an "outperform" rating and a $1,165.00 price target on the stock. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,214.52.

Netflix Price Performance

Shares of NFLX traded down $5.48 during mid-day trading on Friday, reaching $1,245.11. 3,948,915 shares of the stock traded hands, compared to its average volume of 3,768,095. The firm has a fifty day moving average price of $1,221.70 and a 200 day moving average price of $1,049.85. The company has a market cap of $529.88 billion, a price-to-earnings ratio of 58.84, a price-to-earnings-growth ratio of 2.26 and a beta of 1.59. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.58. Netflix, Inc. has a 1 year low of $587.04 and a 1 year high of $1,341.15.

Netflix (NASDAQ:NFLX - Get Free Report) last released its quarterly earnings results 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 23.07% and a return on equity of 39.61%. The firm had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.51 billion. During the same period in the previous year, the business earned $8.28 EPS. As a group, equities research analysts predict that Netflix, Inc. will post 24.58 earnings per share for the current year.

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.