Sawgrass Asset Management LLC Takes $5.84 Million Position in Netflix, Inc. (NASDAQ:NFLX)

Sawgrass Asset Management LLC bought a new stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,263 shares of the Internet television network's stock, valued at approximately $5,840,000.

Several other large investors have also modified their holdings of NFLX. Brighton Jones LLC boosted its holdings in shares of Netflix by 5.0% in the 4th quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network's stock valued at $4,804,000 after buying an additional 257 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new position in shares of Netflix in the 4th quarter valued at $12,212,000. Revolve Wealth Partners LLC boosted its holdings in shares of Netflix by 16.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network's stock valued at $912,000 after buying an additional 144 shares in the last quarter. Navellier & Associates Inc. acquired a new position in shares of Netflix in the 4th quarter valued at $237,000. Finally, Pinnacle Financial Partners Inc raised its position in Netflix by 17.8% in the 4th quarter. Pinnacle Financial Partners Inc now owns 7,427 shares of the Internet television network's stock valued at $6,620,000 after purchasing an additional 1,123 shares during the last quarter. Institutional investors and hedge funds own 80.93% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Phillip Securities upgraded shares of Netflix from a "moderate sell" rating to a "hold" rating in a research note on Monday, April 21st. Canaccord Genuity Group increased their price target on shares of Netflix from $1,200.00 to $1,380.00 and gave the stock a "buy" rating in a research note on Friday, May 16th. Macquarie increased their price target on shares of Netflix from $1,150.00 to $1,200.00 and gave the stock an "outperform" rating in a research note on Monday, April 21st. Morgan Stanley increased their price target on shares of Netflix from $1,150.00 to $1,200.00 and gave the stock an "overweight" rating in a research note on Monday, April 21st. Finally, 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 research note on Monday, May 19th. Eleven investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Netflix presently has an average rating of "Moderate Buy" and a consensus price target of $1,172.73.

Insiders Place Their Bets

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

Netflix Stock Performance

NASDAQ:NFLX opened at $1,231.49 on Monday. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $524.09 billion, a P/E ratio of 58.20, a price-to-earnings-growth ratio of 2.38 and a beta of 1.59. The firm has a 50-day moving average price of $1,150.80 and a two-hundred day moving average price of $1,012.19. Netflix, Inc. has a twelve month low of $587.04 and a twelve month high of $1,262.81.

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 analysts' consensus estimates of $5.74 by $0.87. The company had revenue of $10.54 billion during the quarter, compared to analysts' expectations of $10.51 billion. Netflix had a net margin of 23.07% and a return on equity of 39.61%. During the same quarter in the previous year, the business posted $8.28 earnings per share. As a group, research analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Netflix Company 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.

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