Sharpepoint LLC Takes $200,000 Position in Netflix, Inc. (NASDAQ:NFLX)

Sharpepoint LLC bought a new position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 215 shares of the Internet television network's stock, valued at approximately $200,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. CFO4Life Group LLC raised its holdings in shares of Netflix by 13.1% in the 1st quarter. CFO4Life Group LLC now owns 432 shares of the Internet television network's stock valued at $403,000 after purchasing an additional 50 shares during the period. Heritage Wealth Management Inc. CA raised its holdings in shares of Netflix by 17.8% in the 1st quarter. Heritage Wealth Management Inc. CA now owns 278 shares of the Internet television network's stock valued at $259,000 after purchasing an additional 42 shares during the period. Leavell Investment Management Inc. raised its holdings in shares of Netflix by 1.5% in the 1st quarter. Leavell Investment Management Inc. now owns 668 shares of the Internet television network's stock valued at $623,000 after purchasing an additional 10 shares during the period. Quotient Wealth Partners LLC raised its holdings in shares of Netflix by 5.3% in the 1st quarter. Quotient Wealth Partners LLC now owns 1,924 shares of the Internet television network's stock valued at $1,794,000 after purchasing an additional 97 shares during the period. Finally, Main Street Research LLC raised its holdings in Netflix by 10,404.3% in the 1st quarter. Main Street Research LLC now owns 41,702 shares of the Internet television network's stock valued at $38,888,000 after acquiring an additional 41,305 shares during the period. Institutional investors and hedge funds own 80.93% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on NFLX shares. BMO Capital Markets restated an "outperform" rating and set a $1,200.00 target price (up previously from $1,175.00) on shares of Netflix in a research report on Friday, April 18th. 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 report on Monday, April 21st. Morgan Stanley increased their price objective on shares of Netflix from $1,150.00 to $1,200.00 and gave the company an "overweight" rating in a research note on Monday, April 21st. FBN Securities initiated coverage on shares of Netflix in a research note on Thursday, March 27th. They issued an "outperform" rating and a $1,165.00 price objective for the company. Finally, KeyCorp increased their price objective on shares of Netflix from $1,070.00 to $1,390.00 and gave the company an "overweight" rating in a research note on Thursday. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,214.52.

Netflix Price Performance

Shares of Netflix stock traded down $7.88 on Friday, hitting $1,242.71. The company had a trading volume of 2,837,508 shares, compared to its average volume of 3,767,706. The company has a market cap of $528.86 billion, a PE ratio of 58.75, a PEG ratio of 2.34 and a beta of 1.59. Netflix, Inc. has a 52 week low of $587.04 and a 52 week high of $1,341.15. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.20 and a quick ratio of 1.20. The business has a 50-day simple moving average of $1,219.93 and a 200-day simple moving average of $1,046.88.

Netflix (NASDAQ:NFLX - Get Free Report) last released its quarterly earnings results 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 23.07% and a return on equity of 39.61%. The business had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.51 billion. During the same quarter last year, the firm earned $8.28 EPS. Research analysts expect that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Insider Transactions at Netflix

In related news, Director Strive Masiyiwa sold 290 shares of the stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $1,336.54, for a total transaction of $387,596.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Spencer Adam Neumann sold 2,601 shares of the firm's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $1,307.22, for a total transaction of $3,400,079.22. Following the transaction, the chief financial officer directly owned 3,691 shares in the company, valued at approximately $4,824,949.02. This represents a 41.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 186,723 shares of company stock valued at $223,307,201. Corporate insiders own 1.37% of the company's stock.

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.