Summit Trail Advisors LLC Purchases 1,691 Shares of Netflix, Inc. (NASDAQ:NFLX)

Summit Trail Advisors LLC raised its stake in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 25.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,394 shares of the Internet television network's stock after purchasing an additional 1,691 shares during the quarter. Summit Trail Advisors LLC's holdings in Netflix were worth $7,828,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Buying and Selling

In related news, CFO Spencer Adam Neumann sold 2,601 shares of the business's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $1,132.38, for a total transaction of $2,945,320.38. Following the sale, the chief financial officer owned 3,691 shares of the company's stock, valued at $4,179,614.58. The trade was a 41.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Reed Hastings sold 26,977 shares of the company's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $1,133.05, for a total transaction of $30,566,289.85. Following the completion of the sale, the director owned 394 shares in the company, valued at approximately $446,421.70. This trade represents a 98.56% decrease in their position. The disclosure for this sale can be found here. Insiders sold 157,319 shares of company stock worth $184,842,109 over the last 90 days. Corporate insiders own 1.37% of the company's stock.

Netflix Stock Down 3.4%

Shares of NASDAQ:NFLX traded down $45.53 during trading on Tuesday, hitting $1,293.60. The stock had a trading volume of 4,989,809 shares, compared to its average volume of 3,750,399. The company has a market capitalization of $550.52 billion, a PE ratio of 61.13, a PEG ratio of 2.56 and a beta of 1.59. 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 firm's fifty day moving average is $1,190.27 and its 200 day moving average is $1,027.81. Netflix, Inc. has a 12 month low of $587.04 and a 12 month high of $1,342.50.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.74 by $0.87. The business had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $10.51 billion. Netflix had a return on equity of 39.61% and a net margin of 23.07%. During the same quarter in the prior year, the company earned $8.28 earnings per share. Analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on NFLX shares. Rosenblatt Securities upped their target price on Netflix from $1,494.00 to $1,514.00 and gave the stock a "buy" rating in a research note on Monday, April 21st. BMO Capital Markets reaffirmed an "outperform" rating and issued a $1,200.00 price objective (up previously from $1,175.00) on shares of Netflix in a research note on Friday, April 18th. Barclays increased their target price 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. Pivotal Research boosted their price target on shares of Netflix from $1,350.00 to $1,600.00 and gave the stock a "buy" rating in a research note on Friday, June 20th. Finally, UBS Group upped their price target on shares of Netflix from $1,150.00 to $1,450.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Eleven research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Netflix presently has a consensus rating of "Moderate Buy" and an average price target of $1,172.73.

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.