Ritholtz Wealth Management Buys 1,330 Shares of Netflix, Inc. (NASDAQ:NFLX)

Ritholtz Wealth Management raised its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 22.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,351 shares of the Internet television network's stock after acquiring an additional 1,330 shares during the quarter. Ritholtz Wealth Management's holdings in Netflix were worth $6,855,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of NFLX. Brown Shipley& Co Ltd bought a new position in shares of Netflix in the fourth quarter worth approximately $27,000. Transce3nd LLC bought a new position in Netflix in the 4th quarter valued at approximately $32,000. Copia Wealth Management purchased a new stake in Netflix during the 4th quarter valued at $37,000. Stuart Chaussee & Associates Inc. increased its holdings in shares of Netflix by 4,500.0% in the 4th quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network's stock worth $41,000 after purchasing an additional 45 shares in the last quarter. Finally, NewSquare Capital LLC increased its holdings in shares of Netflix by 120.0% in the 4th quarter. NewSquare Capital LLC now owns 55 shares of the Internet television network's stock worth $49,000 after purchasing an additional 30 shares in the last quarter. 80.93% of the stock is owned by institutional investors.

Netflix Stock Up 0.7%

Shares of NASDAQ:NFLX traded up $7.90 during mid-day trading on Monday, hitting $1,220.05. 695,399 shares of the company traded hands, compared to its average volume of 3,749,204. The firm's 50 day simple moving average is $1,120.37 and its 200 day simple moving average is $1,000.96. The firm has a market cap of $519.22 billion, a P/E ratio of 61.48, a PEG ratio of 2.12 and a beta of 1.59. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. Netflix, Inc. has a 52-week low of $587.04 and a 52-week high of $1,262.81.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, beating analysts' consensus estimates of $5.74 by $0.87. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The company had revenue of $10.54 billion during the quarter, compared to analysts' expectations of $10.51 billion. During the same period in the prior year, the company posted $8.28 EPS. On average, equities analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have commented on NFLX. Benchmark reaffirmed a "hold" rating on shares of Netflix in a research report on Monday, April 21st. Needham & Company LLC reissued a "buy" rating and issued a $1,126.00 target price on shares of Netflix in a research report on Thursday, April 17th. Pivotal Research increased their price objective on shares of Netflix from $1,250.00 to $1,350.00 and gave the stock a "buy" rating in a research note on Monday, April 21st. Canaccord Genuity Group boosted their target price on shares of Netflix from $1,200.00 to $1,380.00 and gave the company a "buy" rating in a research report on Friday, May 16th. Finally, Barclays lifted their price target on shares of Netflix from $900.00 to $1,000.00 and gave the stock an "equal weight" rating in a research note on Monday, April 21st. Eleven investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $1,156.73.

Insiders Place Their Bets

In other Netflix news, Director Jay C. Hoag sold 31,750 shares of the business's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $1,252.35, for a total value of $39,762,112.50. Following the sale, the director now directly owns 63,040 shares in the company, valued at approximately $78,948,144. The trade was a 33.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Reed Hastings sold 25,360 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $921.15, for a total value of $23,360,364.00. Following the completion of the transaction, the chairman now owns 394 shares of the company's stock, valued at $362,933.10. This trade represents a 98.47% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 185,140 shares of company stock worth $210,271,552. Insiders own 1.37% of the company's stock.

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.