Sendero Wealth Management LLC Makes New Investment in Netflix, Inc. (NASDAQ:NFLX)

Sendero Wealth Management LLC acquired a new stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 841 shares of the Internet television network's stock, valued at approximately $784,000.

Several other hedge funds have also recently bought and sold shares of NFLX. Northside Capital Management LLC raised its holdings in shares of Netflix by 5.0% during the first quarter. Northside Capital Management LLC now owns 646 shares of the Internet television network's stock valued at $602,000 after buying an additional 31 shares during the last quarter. Floyd Financial Group LLC increased its position in Netflix by 19.2% in the 1st quarter. Floyd Financial Group LLC now owns 857 shares of the Internet television network's stock valued at $799,000 after acquiring an additional 138 shares during the period. Cathy Pareto & Associates Inc. raised its stake in Netflix by 87.9% during the 1st quarter. Cathy Pareto & Associates Inc. now owns 620 shares of the Internet television network's stock valued at $578,000 after acquiring an additional 290 shares in the last quarter. Richard P Slaughter Associates Inc acquired a new position in Netflix during the 1st quarter worth $1,013,000. Finally, Brave Asset Management Inc. grew its stake in shares of Netflix by 45.8% in the first quarter. Brave Asset Management Inc. now owns 522 shares of the Internet television network's stock worth $487,000 after purchasing an additional 164 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

NFLX has been the topic of a number of recent analyst reports. Guggenheim restated a "buy" rating and set a $1,150.00 price objective (up from $1,100.00) on shares of Netflix in a research note on Friday, April 18th. Needham & Company LLC restated a "buy" rating and set a $1,126.00 price target on shares of Netflix in a research report on Thursday, April 17th. Wells Fargo & Company increased their price objective on shares of Netflix from $1,210.00 to $1,222.00 and gave the company an "overweight" rating in a report on Monday, April 21st. Canaccord Genuity Group raised their price objective on shares of Netflix from $1,200.00 to $1,380.00 and gave the company a "buy" rating in a research note on Friday, May 16th. Finally, JPMorgan Chase & Co. restated a "neutral" rating and issued a $1,220.00 target price (up from $1,150.00) on shares of Netflix in a research report on Monday, May 19th. Eleven 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 stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $1,149.91.

Insider Activity at Netflix

In related news, CAO Jeffrey William Karbowski sold 480 shares of the stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $978.18, for a total value of $469,526.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Spencer Adam Neumann sold 2,601 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $921.72, for a total value of $2,397,393.72. Following the transaction, the chief financial officer now owns 3,691 shares of the company's stock, valued at $3,402,068.52. This represents a 41.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 152,300 shares of company stock worth $169,146,939 over the last three months. Company insiders own 1.37% of the company's stock.

Netflix Stock Performance

Shares of NASDAQ:NFLX traded up $10.86 during midday trading on Thursday, hitting $1,250.52. The company's stock had a trading volume of 2,814,568 shares, compared to its average volume of 3,745,433. The stock has a market capitalization of $532.19 billion, a price-to-earnings ratio of 63.06, a PEG ratio of 2.12 and a beta of 1.58. The stock's 50 day simple moving average is $1,075.18 and its 200 day simple moving average is $982.47. 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 fifty-two week low of $587.04 and a fifty-two week high of $1,262.59.

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 the consensus estimate of $5.74 by $0.87. Netflix had a return on equity of 38.32% and a net margin of 22.34%. 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 business earned $8.28 earnings per share. As a group, research analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current 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.