Spirit of America Management Corp NY Increases Holdings in Netflix, Inc. (NASDAQ:NFLX)

Spirit of America Management Corp NY lifted its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 30.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,500 shares of the Internet television network's stock after purchasing an additional 350 shares during the period. Spirit of America Management Corp NY's holdings in Netflix were worth $1,399,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Halbert Hargrove Global Advisors LLC raised its stake in Netflix by 100.0% in the first quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock worth $25,000 after buying an additional 13 shares in the last quarter. Brown Shipley& Co Ltd bought a new position in Netflix in the fourth quarter worth approximately $27,000. Transce3nd LLC bought a new position in Netflix in the fourth quarter worth approximately $32,000. Copia Wealth Management bought a new position in Netflix in the fourth quarter worth approximately $37,000. Finally, Stuart Chaussee & Associates Inc. raised its stake in Netflix by 4,500.0% in 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 in the last quarter. Hedge funds and other institutional investors own 80.93% of the company's stock.

Insider Activity at Netflix

In other Netflix 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 value of $39,762,112.50. Following the sale, the director now directly owns 63,040 shares of the company's stock, valued at approximately $78,948,144. This represents a 33.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ann Mather sold 1,358 shares of the company's stock in a transaction on Friday, May 9th. The shares were 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 have sold a total of 185,140 shares of company stock valued at $210,271,552 in the last ninety days. Company insiders own 1.37% of the company's stock.

Netflix Price Performance

NASDAQ NFLX opened at $1,222.29 on Friday. 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 stock's fifty day moving average price is $1,144.53 and its 200 day moving average price is $1,008.57. Netflix, Inc. has a 1 year low of $587.04 and a 1 year high of $1,262.81. The company has a market cap of $520.17 billion, a price-to-earnings ratio of 57.76, a PEG ratio of 2.36 and a beta of 1.59.

Netflix (NASDAQ:NFLX - Get Free Report) last released its 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 return on equity of 39.61% and a net margin of 23.07%. The firm had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.51 billion. During the same period in the prior year, the firm earned $8.28 EPS. As a group, equities research analysts forecast that Netflix, Inc. will post 24.58 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on NFLX shares. Morgan Stanley boosted their price objective on shares of Netflix from $1,150.00 to $1,200.00 and gave the stock an "overweight" rating in a research note on Monday, April 21st. Phillip Securities raised shares of Netflix from a "moderate sell" rating to a "hold" rating in a research note on Monday, April 21st. Wells Fargo & Company boosted their price objective on shares of Netflix from $1,210.00 to $1,222.00 and gave the stock an "overweight" rating in a research note on Monday, April 21st. KeyCorp boosted their price objective on shares of Netflix from $1,000.00 to $1,070.00 and gave the stock an "overweight" rating in a research note on Monday, April 21st. Finally, Cfra Research raised shares of Netflix to a "strong-buy" rating in a research note on Monday, April 28th. Eleven research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $1,156.73.

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.

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