Wakefield Asset Management LLLP Has $5.20 Million Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Wakefield Asset Management LLLP increased its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 43.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,576 shares of the Internet television network's stock after acquiring an additional 1,690 shares during the period. Netflix makes up about 1.6% of Wakefield Asset Management LLLP's holdings, making the stock its 7th biggest position. Wakefield Asset Management LLLP's holdings in Netflix were worth $5,200,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Fullcircle Wealth LLC grew its stake in Netflix by 2.5% in the 1st quarter. Fullcircle Wealth LLC now owns 369 shares of the Internet television network's stock valued at $344,000 after buying an additional 9 shares during the last quarter. Bedell Frazier Investment Counselling LLC grew its holdings in shares of Netflix by 2.2% during the 4th quarter. Bedell Frazier Investment Counselling LLC now owns 462 shares of the Internet television network's stock valued at $412,000 after purchasing an additional 10 shares during the last quarter. Mission Creek Capital Partners Inc. increased its position in shares of 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 valued at $3,410,000 after buying an additional 10 shares during the period. Continuum Wealth Advisors LLC increased its holdings in shares of Netflix by 4.4% during the first quarter. Continuum Wealth Advisors LLC now owns 235 shares of the Internet television network's stock valued at $219,000 after acquiring an additional 10 shares in the last quarter. Finally, Financial Enhancement Group LLC grew its stake in shares of Netflix by 2.5% in the first quarter. Financial Enhancement Group LLC now owns 412 shares of the Internet television network's stock worth $384,000 after acquiring an additional 10 shares during the period. 80.93% of the stock is owned by institutional investors.

Analyst Ratings Changes

NFLX has been the subject of several recent research reports. Cfra Research upgraded Netflix to a "strong-buy" rating in a research report on Monday, April 28th. UBS Group reiterated a "market underperform" rating on shares of Netflix in a report on Saturday. Macquarie increased their price target on shares of Netflix from $1,150.00 to $1,200.00 and gave the stock an "outperform" rating in a research note on Monday, April 21st. Pivotal Research reissued a "buy" rating on shares of Netflix in a report on Thursday, July 10th. Finally, Oppenheimer raised their price target on Netflix from $1,200.00 to $1,425.00 and gave the company an "outperform" rating in a report on Thursday, June 12th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $1,297.66.

Insider Buying and Selling at Netflix

In other 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Bradford L. Smith sold 3,919 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $1,124.26, for a total value of $4,405,974.94. Following the sale, the director directly owned 7,969 shares of the company's stock, valued at $8,959,227.94. This represents a 32.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 186,563 shares of company stock valued at $223,147,201. 1.37% of the stock is owned by insiders.

Netflix Stock Down 3.5%

Shares of NFLX opened at $1,190.08 on Wednesday. Netflix, Inc. has a 12 month low of $587.04 and a 12 month high of $1,341.15. The company has a quick ratio of 1.20, a current ratio of 1.34 and a debt-to-equity ratio of 0.58. The company has a 50-day moving average price of $1,232.59 and a two-hundred day moving average price of $1,063.17. The stock has a market cap of $505.70 billion, a price-to-earnings ratio of 50.71, a P/E/G ratio of 2.08 and a beta of 1.59.

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