Smithbridge Asset Management Inc. DE Takes $9.40 Million Position in Netflix, Inc. (NASDAQ:NFLX)

Smithbridge Asset Management Inc. DE purchased a new stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 10,084 shares of the Internet television network's stock, valued at approximately $9,404,000. Netflix comprises about 1.7% of Smithbridge Asset Management Inc. DE's portfolio, making the stock its 19th largest position.

Several other large investors have also recently modified their holdings of NFLX. Vanguard Group Inc. grew its holdings in Netflix by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 37,488,005 shares of the Internet television network's stock worth $33,413,809,000 after purchasing an additional 171,712 shares during the period. FMR LLC grew its holdings in Netflix by 1.8% in the fourth quarter. FMR LLC now owns 20,887,090 shares of the Internet television network's stock worth $18,617,081,000 after purchasing an additional 375,234 shares during the period. Geode Capital Management LLC grew its holdings in Netflix by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 9,323,952 shares of the Internet television network's stock worth $8,287,823,000 after purchasing an additional 175,596 shares during the period. GAMMA Investing LLC grew its holdings in Netflix by 109,524.3% in the first quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network's stock worth $8,239,576,000 after purchasing an additional 8,827,662 shares during the period. Finally, Norges Bank acquired a new stake in Netflix in the fourth quarter worth $5,019,087,000. Institutional investors own 80.93% of the company's stock.

Netflix Stock Performance

Shares of NASDAQ NFLX traded down $2.88 during midday trading on Friday, hitting $1,212.15. The company's stock had a trading volume of 2,209,188 shares, compared to its average volume of 3,763,911. The stock has a fifty day moving average price of $1,113.54 and a 200 day moving average price of $996.91. Netflix, Inc. has a one year low of $587.04 and a one year high of $1,262.81. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $515.86 billion, a price-to-earnings ratio of 61.13, a P/E/G ratio of 2.12 and a beta of 1.59.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $10.51 billion. During the same quarter in the previous year, the firm posted $8.28 earnings per share. On average, research analysts forecast that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

NFLX has been the subject of a number of research reports. Rosenblatt Securities raised their price target on shares of Netflix from $1,494.00 to $1,514.00 and gave the stock a "buy" rating in a report on Monday, April 21st. Macquarie raised their price target on shares of Netflix from $1,150.00 to $1,200.00 and gave the stock an "outperform" rating in a report on Monday, April 21st. Guggenheim restated a "buy" rating and issued a $1,150.00 price target (up from $1,100.00) on shares of Netflix in a report on Friday, April 18th. Evercore ISI reiterated an "outperform" rating on shares of Netflix in a report on Thursday, May 15th. Finally, Moffett Nathanson reiterated a "buy" rating and set a $1,150.00 price objective (up from $1,100.00) on shares of Netflix in a report on Friday, April 18th. Eleven investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $1,156.73.

Insider Buying and Selling

In related news, Director Jay C. Hoag sold 31,750 shares of the company's stock in a transaction that occurred on 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 sale, the director now owns 63,040 shares of the company's stock, valued at approximately $78,948,144. This represents a 33.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Cletus R. Willems sold 298 shares of the company's stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $1,138.00, for a total transaction of $339,124.00. Following the sale, the insider now directly owns 31,610 shares in the company, valued at $35,972,180. This trade represents a 0.93% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 185,140 shares of company stock valued at $210,271,552. Company 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.