SteelPeak Wealth LLC Has $29.87 Million Stock Position in Netflix, Inc. (NASDAQ:NFLX)

SteelPeak Wealth LLC grew its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 2.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,027 shares of the Internet television network's stock after buying an additional 754 shares during the quarter. Netflix accounts for 1.2% of SteelPeak Wealth LLC's portfolio, making the stock its 17th largest position. SteelPeak Wealth LLC's holdings in Netflix were worth $29,866,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of NFLX. Vanguard Group Inc. boosted its stake in Netflix by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 37,488,005 shares of the Internet television network's stock valued at $33,413,809,000 after acquiring an additional 171,712 shares during the last quarter. FMR LLC boosted its stake in Netflix by 1.8% during the 4th quarter. FMR LLC now owns 20,887,090 shares of the Internet television network's stock valued at $18,617,081,000 after acquiring an additional 375,234 shares during the last quarter. Geode Capital Management LLC boosted its stake in Netflix by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 9,323,952 shares of the Internet television network's stock valued at $8,287,823,000 after acquiring an additional 175,596 shares during the last quarter. GAMMA Investing LLC boosted its stake in Netflix by 109,524.3% during the 1st quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network's stock valued at $8,239,576,000 after acquiring an additional 8,827,662 shares during the last quarter. Finally, Norges Bank bought a new position in Netflix during the 4th quarter valued at $5,019,087,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Netflix Trading Down 0.4%

Shares of Netflix stock traded down $5.48 during trading on Friday, hitting $1,245.11. The stock had a trading volume of 3,948,915 shares, compared to its average volume of 3,766,443. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $529.88 billion, a PE ratio of 58.84, a P/E/G ratio of 2.27 and a beta of 1.59. The stock has a 50 day simple moving average of $1,221.70 and a 200 day simple moving average of $1,049.04. Netflix, Inc. has a 1 year low of $587.04 and a 1 year high of $1,341.15.

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, 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 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 previous year, the firm posted $8.28 earnings per share. On average, research analysts expect that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have commented on NFLX. UBS Group increased their price objective on shares of Netflix from $1,150.00 to $1,450.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Wolfe Research set a $1,340.00 price target on shares of Netflix and gave the stock an "outperform" rating in a research report on Friday, May 16th. Canaccord Genuity Group restated a "buy" rating on shares of Netflix in a research report on Thursday. Moffett Nathanson restated a "buy" rating and issued a $1,150.00 price target (up from $1,100.00) on shares of Netflix in a research report on Friday, April 18th. Finally, Loop Capital restated a "hold" rating on shares of Netflix in a research report on Monday, March 24th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $1,214.52.

Insider Activity at Netflix

In other Netflix news, Director Jay C. Hoag sold 32,515 shares of Netflix stock in a transaction that occurred 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 completion of the sale, the director directly owned 79,040 shares in the company, valued at $87,099,708.80. The trade was a 29.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bradford L. Smith sold 3,919 shares of Netflix stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $1,124.26, for a total transaction of $4,405,974.94. Following the completion of the sale, the director owned 7,969 shares of the company's stock, valued at $8,959,227.94. This trade represents a 32.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 186,723 shares of company stock valued at $223,307,201. 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.