Stonebridge Capital Management Inc. Has $438,000 Position in Netflix, Inc. (NASDAQ:NFLX)

Key Points

• Stonebridge Capital Management Inc. increased its holdings in Netflix, Inc. by 84.3% during the first quarter, now owning shares valued at $438,000.
• Netflix reported quarterly earnings of $7.19 EPS, surpassing analysts' expectations of $7.07, with a revenue of $11.08 billion.
• Insider selling was observed with CEO Theodore Sarandos selling 2,026 shares at an average price of $1,160.62, representing an 11.78% decrease in his ownership.

Stonebridge Capital Management Inc. grew its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 84.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 470 shares of the Internet television network's stock after acquiring an additional 215 shares during the quarter. Stonebridge Capital Management Inc.'s holdings in Netflix were worth $438,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Fullcircle Wealth LLC boosted its holdings in shares of Netflix by 2.5% in the 1st quarter. Fullcircle Wealth LLC now owns 369 shares of the Internet television network's stock worth $344,000 after buying an additional 9 shares during the last quarter. Mission Creek Capital Partners Inc. boosted its holdings in shares of Netflix by 0.3% in the 4th quarter. Mission Creek Capital Partners Inc. now owns 3,826 shares of the Internet television network's stock worth $3,410,000 after buying an additional 10 shares during the last quarter. Continuum Wealth Advisors LLC boosted its holdings in shares of Netflix by 4.4% in the 1st quarter. Continuum Wealth Advisors LLC now owns 235 shares of the Internet television network's stock worth $219,000 after buying an additional 10 shares during the last quarter. Financial Enhancement Group LLC boosted its holdings in shares of Netflix by 2.5% in the 1st quarter. Financial Enhancement Group LLC now owns 412 shares of the Internet television network's stock worth $384,000 after buying an additional 10 shares during the last quarter. Finally, Saxony Capital Management LLC boosted its holdings in shares of Netflix by 1.4% in the 1st quarter. Saxony Capital Management LLC now owns 707 shares of the Internet television network's stock worth $659,000 after buying an additional 10 shares during the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Stock Performance

Shares of NFLX stock opened at $1,211.64 on Friday. The stock has a fifty day moving average of $1,232.25 and a 200 day moving average of $1,093.48. Netflix, Inc. has a 52 week low of $622.99 and a 52 week high of $1,341.15. The firm has a market capitalization of $514.86 billion, a price-to-earnings ratio of 51.63, a PEG ratio of 1.99 and a beta of 1.59. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.58.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, topping analysts' consensus estimates of $7.07 by $0.12. Netflix had a return on equity of 42.50% and a net margin of 24.58%. The company had revenue of $11.08 billion during the quarter, compared to analyst estimates of $11.04 billion. During the same quarter last year, the firm posted $4.88 earnings per share. The firm's revenue was up 15.9% on a year-over-year basis. As a group, research analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Morgan Stanley restated an "equal weight" rating on shares of Netflix in a research note on Monday, July 21st. UBS Group restated a "market underperform" rating on shares of Netflix in a research note on Saturday, July 19th. Guggenheim restated a "buy" rating and issued a $1,150.00 price objective (up from $1,100.00) on shares of Netflix in a research note on Friday, April 18th. Wolfe Research set a $1,340.00 price objective on Netflix and gave the company an "outperform" rating in a research note on Friday, May 16th. Finally, Macquarie upped their price target on Netflix from $1,150.00 to $1,200.00 and gave the company an "outperform" rating in a research report on Monday, April 21st. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $1,297.66.

Insider Buying and Selling

In related news, CEO Theodore A. Sarandos sold 2,026 shares of the firm's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $1,160.62, for a total value of $2,351,416.12. Following the completion of the sale, the chief executive officer owned 15,168 shares of the company's stock, valued at $17,604,284.16. This trade represents a 11.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider David A. Hyman sold 424 shares of the stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $1,158.67, for a total value of $491,276.08. Following the completion of the transaction, the insider owned 31,610 shares of the company's stock, valued at approximately $36,625,558.70. This trade represents a 1.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 150,226 shares of company stock valued at $183,849,784 over the last three months. 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.

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