Tran Capital Management L.P. Takes $5.71 Million Position in Netflix, Inc. (NASDAQ:NFLX)

Tran Capital Management L.P. acquired a new position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 6,126 shares of the Internet television network's stock, valued at approximately $5,713,000.

Several other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings 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 worth $33,413,809,000 after buying an additional 171,712 shares during the period. FMR LLC raised its holdings in Netflix by 1.8% during the 4th quarter. FMR LLC now owns 20,887,090 shares of the Internet television network's stock worth $18,617,081,000 after buying an additional 375,234 shares during the period. Geode Capital Management LLC raised its holdings 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 worth $8,287,823,000 after buying an additional 175,596 shares during the period. GAMMA Investing LLC raised its holdings 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 worth $8,239,576,000 after buying an additional 8,827,662 shares during the period. Finally, Norges Bank acquired a new stake in Netflix during the 4th quarter worth approximately $5,019,087,000. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have commented on the stock. Robert W. Baird raised their target price on shares of Netflix from $1,200.00 to $1,300.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. Wolfe Research set a $1,340.00 price objective on shares of Netflix and gave the company an "outperform" rating in a report on Friday, May 16th. Jefferies Financial Group lifted their price objective on shares of Netflix from $1,200.00 to $1,400.00 and gave the company a "buy" rating in a report on Tuesday, June 3rd. Pivotal Research lifted their price objective on shares of Netflix from $1,250.00 to $1,350.00 and gave the company a "buy" rating in a report on Monday, April 21st. Finally, KeyCorp lifted their price objective on shares of Netflix from $1,000.00 to $1,070.00 and gave the company an "overweight" rating in a report on Monday, April 21st. Eleven equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,156.73.

Insider Buying and Selling at Netflix

In other Netflix news, insider Cletus R. Willems sold 298 shares of the company's stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $1,138.00, for a total value of $339,124.00. Following the transaction, the insider now directly owns 31,610 shares in the company, valued at $35,972,180. The trade was a 0.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Jeffrey William Karbowski sold 480 shares of the company's stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $978.18, for a total transaction of $469,526.40. The disclosure for this sale can be found here. Insiders have sold a total of 185,140 shares of company stock worth $210,271,552 over the last ninety days. Insiders own 1.37% of the company's stock.

Netflix Stock Performance

Shares of NASDAQ:NFLX traded down $2.88 on Friday, hitting $1,212.15. The company had a trading volume of 2,209,188 shares, compared to its average volume of 3,763,914. Netflix, Inc. has a 1-year low of $587.04 and a 1-year high of $1,262.81. The stock has a market cap of $515.86 billion, a price-to-earnings ratio of 61.13, a P/E/G ratio of 2.12 and a beta of 1.59. The stock has a 50 day moving average price of $1,120.37 and a 200 day moving average price of $999.25. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56.

Netflix (NASDAQ:NFLX - Get Free Report) last released its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, beating the consensus estimate of $5.74 by $0.87. Netflix had a net margin of 22.34% and a return on equity of 38.32%. 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 company earned $8.28 earnings per share. Analysts expect that Netflix, Inc. will post 24.58 EPS for the current year.

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.