TBH Global Asset Management LLC Raises Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

TBH Global Asset Management LLC raised its position in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 535.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,213 shares of the Internet television network's stock after buying an additional 2,707 shares during the quarter. TBH Global Asset Management LLC's holdings in Netflix were worth $2,996,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. West Michigan Advisors LLC lifted its stake in Netflix by 1.3% during the fourth quarter. West Michigan Advisors LLC now owns 776 shares of the Internet television network's stock worth $692,000 after purchasing an additional 10 shares during the last quarter. Warwick Investment Management Inc. lifted its stake in Netflix by 3.5% during the fourth quarter. Warwick Investment Management Inc. now owns 298 shares of the Internet television network's stock worth $266,000 after purchasing an additional 10 shares during the last quarter. MRP Capital Investments LLC lifted its stake in Netflix by 1.0% during the fourth quarter. MRP Capital Investments LLC now owns 1,052 shares of the Internet television network's stock worth $938,000 after purchasing an additional 10 shares during the last quarter. Bedell Frazier Investment Counselling LLC lifted its stake in Netflix by 2.2% during the fourth quarter. Bedell Frazier Investment Counselling LLC now owns 462 shares of the Internet television network's stock worth $412,000 after purchasing an additional 10 shares during the last quarter. Finally, Mission Creek Capital Partners Inc. lifted its stake in Netflix by 0.3% during the fourth quarter. Mission Creek Capital Partners Inc. now owns 3,826 shares of the Internet television network's stock worth $3,410,000 after purchasing an additional 10 shares during 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 32,515 shares of the firm's stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $1,101.97, for a total transaction of $35,830,554.55. Following the completion of the sale, the director now directly owns 79,040 shares in the company, valued at approximately $87,099,708.80. This trade represents a 29.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Jeffrey William Karbowski sold 620 shares of the firm's stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $1,286.84, for a total value of $797,840.80. The disclosure for this sale can be found here. Insiders sold 185,280 shares of company stock worth $210,599,866 in the last quarter. 1.37% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NFLX. Wolfe Research set a $1,340.00 price objective on Netflix and gave the stock an "outperform" rating in a research note on Friday, May 16th. Morgan Stanley raised their target price on Netflix from $1,150.00 to $1,200.00 and gave the company an "overweight" rating in a research note on Monday, April 21st. Guggenheim reiterated a "buy" rating and issued a $1,150.00 target price (up from $1,100.00) on shares of Netflix in a research note on Friday, April 18th. Wells Fargo & Company raised their target price on Netflix from $1,222.00 to $1,500.00 and gave the company an "overweight" rating in a research note on Friday, June 20th. Finally, Loop Capital reiterated a "hold" rating on shares of Netflix in a research note on Monday, March 24th. Eleven equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $1,172.73.

Netflix Trading Up 1.3%

NASDAQ:NFLX opened at $1,323.12 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.58. Netflix, Inc. has a 1-year low of $587.04 and a 1-year high of $1,331.35. The firm has a market capitalization of $563.08 billion, a price-to-earnings ratio of 62.53, a price-to-earnings-growth ratio of 2.56 and a beta of 1.59. The stock has a fifty day simple moving average of $1,183.25 and a 200 day simple moving average of $1,024.18.

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

Netflix 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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