Simplicity Wealth LLC Raises Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Simplicity Wealth LLC raised its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 86.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,675 shares of the Internet television network's stock after purchasing an additional 1,708 shares during the period. Simplicity Wealth LLC's holdings in Netflix were worth $3,427,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Capital & Planning LLC purchased a new stake in shares of Netflix during the 4th quarter valued at $809,000. Brighton Jones LLC lifted its stake 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 acquiring an additional 257 shares during the last quarter. Union Bancaire Privee UBP SA bought a new stake in Netflix in the fourth quarter valued at approximately $12,212,000. Revolve Wealth Partners LLC boosted its position in Netflix by 16.4% during 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 during the period. Finally, Stiles Financial Services Inc boosted its holdings in shares of Netflix by 46.4% during the fourth quarter. Stiles Financial Services Inc now owns 868 shares of the Internet television network's stock worth $774,000 after purchasing an additional 275 shares during the period. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NFLX has been the subject of several research analyst reports. Cfra Research raised shares of Netflix to a "strong-buy" rating in a research report on Monday, April 28th. Rosenblatt Securities raised their price target on Netflix from $1,494.00 to $1,514.00 and gave the company a "buy" rating in a report on Monday, April 21st. FBN Securities initiated coverage on shares of Netflix in a report on Thursday, March 27th. They issued an "outperform" rating and a $1,165.00 price objective for the company. JPMorgan Chase & Co. restated a "neutral" rating and set a $1,220.00 target price (up previously from $1,150.00) on shares of Netflix in a research note on Monday, May 19th. Finally, Wolfe Research set a $1,340.00 price target on Netflix and gave the stock an "outperform" rating in a research note on Friday, May 16th. Eleven equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $1,149.91.

Insider Activity

In other news, Director Jay C. Hoag sold 32,515 shares of the stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $1,101.97, for a total value of $35,830,554.55. Following the sale, the director now owns 79,040 shares of the company's stock, valued at approximately $87,099,708.80. This represents a 29.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ann Mather sold 1,358 shares of the firm's stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $1,150.00, for a total transaction of $1,561,700.00. The disclosure for this sale can be found here. Insiders sold 185,140 shares of company stock valued at $210,271,552 in the last ninety days. Insiders own 1.37% of the company's stock.

Netflix Price Performance

Shares of NASDAQ:NFLX traded down $20.84 on Tuesday, reaching $1,203.62. The company's stock had a trading volume of 4,450,878 shares, compared to its average volume of 3,754,940. The company has a 50-day simple moving average of $1,093.58 and a 200 day simple moving average of $991.46. Netflix, Inc. has a 52-week low of $587.04 and a 52-week high of $1,262.81. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. The company has a market cap of $512.23 billion, a P/E ratio of 60.70, a PEG ratio of 2.12 and a beta of 1.59.

Netflix (NASDAQ:NFLX - Get Free Report) last announced 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 22.34% and a return on equity of 38.32%. The firm had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $10.51 billion. During the same quarter last year, the firm earned $8.28 EPS. As a group, equities research analysts anticipate that Netflix, Inc. will post 24.58 EPS 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.