Sovran Advisors LLC Grows Position in Netflix, Inc. (NASDAQ:NFLX)

Sovran Advisors LLC increased its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 48.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,215 shares of the Internet television network's stock after purchasing an additional 723 shares during the quarter. Sovran Advisors LLC's holdings in Netflix were worth $2,155,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Halbert Hargrove Global Advisors LLC raised its stake in shares of Netflix by 100.0% in the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock valued at $25,000 after acquiring an additional 13 shares during the period. Brown Shipley& Co Ltd purchased a new stake in Netflix in the fourth quarter valued at approximately $27,000. Transce3nd LLC purchased a new stake in Netflix in the fourth quarter valued at approximately $32,000. Copia Wealth Management acquired a new position in Netflix during the fourth quarter worth $37,000. Finally, Stuart Chaussee & Associates Inc. boosted its position in shares of Netflix by 4,500.0% during the fourth quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network's stock worth $41,000 after buying an additional 45 shares during the period. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on NFLX shares. Rosenblatt Securities lifted their price objective on Netflix from $1,494.00 to $1,514.00 and gave the company a "buy" rating in a research note on Monday, April 21st. Piper Sandler set a $1,150.00 price target on shares of Netflix and gave the stock an "overweight" rating in a research note on Monday, April 21st. Wolfe Research set a $1,340.00 price objective on shares of Netflix and gave the company an "outperform" rating in a research note on Friday, May 16th. Barclays lifted their price objective on shares of Netflix from $900.00 to $1,000.00 and gave the company an "equal weight" rating in a report on Monday, April 21st. Finally, JPMorgan Chase & Co. restated a "neutral" rating and issued 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 equities research 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 stock. According to data from MarketBeat.com, Netflix presently has a consensus rating of "Moderate Buy" and an average price target of $1,172.73.

Insider Activity at Netflix

In other news, Director Jay C. Hoag sold 31,750 shares of the company's stock in a transaction 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 transaction, the director now directly owns 63,040 shares of the company's stock, valued at $78,948,144. This represents a 33.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Jeffrey William Karbowski sold 160 shares of the stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $1,000.00, for a total transaction of $160,000.00. The disclosure for this sale can be found here. Insiders sold a total of 185,280 shares of company stock worth $210,599,866 over the last 90 days. Company insiders own 1.37% of the company's stock.

Netflix Price Performance

Shares of NASDAQ NFLX opened at $1,323.12 on Friday. The stock has a fifty day moving average price of $1,183.25 and a 200 day moving average price of $1,024.18. Netflix, Inc. has a 1-year low of $587.04 and a 1-year high of $1,331.35. 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 company has a market cap of $563.08 billion, a PE ratio of 62.53, a P/E/G ratio of 2.56 and a beta of 1.59.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 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 the consensus estimate 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 prior year, the firm earned $8.28 EPS. Sell-side analysts forecast that Netflix, Inc. will post 24.58 EPS for the current year.

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.

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