Wedbush Securities Inc. Acquires 415 Shares of Netflix, Inc. (NASDAQ:NFLX)

Wedbush Securities Inc. increased its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 2.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,772 shares of the Internet television network's stock after purchasing an additional 415 shares during the period. Netflix makes up 0.5% of Wedbush Securities Inc.'s holdings, making the stock its 25th largest position. Wedbush Securities Inc.'s holdings in Netflix were worth $14,708,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Halbert Hargrove Global Advisors LLC boosted its stake in shares of Netflix by 100.0% during the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock worth $25,000 after buying an additional 13 shares during the last quarter. Brown Shipley& Co Ltd bought a new stake in shares of Netflix in the 4th quarter valued at about $27,000. Transce3nd LLC bought a new stake in shares of Netflix in the 4th quarter valued at about $32,000. Copia Wealth Management bought a new stake in shares of Netflix in the 4th quarter valued at about $37,000. Finally, Stuart Chaussee & Associates Inc. boosted its position 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 worth $41,000 after acquiring an additional 45 shares in the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Price Performance

NFLX stock traded down $0.27 during midday trading on Friday, reaching $1,180.49. The company had a trading volume of 2,620,318 shares, compared to its average volume of 4,304,313. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.34 and a quick ratio of 1.20. Netflix, Inc. has a 1 year low of $587.04 and a 1 year high of $1,341.15. The company has a market capitalization of $501.63 billion, a P/E ratio of 50.30, a P/E/G ratio of 1.98 and a beta of 1.59. The firm has a 50-day moving average price of $1,236.66 and a 200-day moving average price of $1,069.32.

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

Insider Buying and Selling at Netflix

In other Netflix news, CAO Jeffrey William Karbowski sold 620 shares of the stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $1,286.84, for a total transaction of $797,840.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Spencer Adam Neumann sold 2,601 shares of the stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $1,307.22, for a total transaction of $3,400,079.22. Following the sale, the chief financial officer directly owned 3,691 shares of the company's stock, valued at $4,824,949.02. The trade was a 41.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 185,923 shares of company stock worth $222,445,095 over the last ninety days. 1.37% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on NFLX. KeyCorp raised their target price on shares of Netflix from $1,070.00 to $1,390.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Macquarie boosted their price target on shares of Netflix from $1,150.00 to $1,200.00 and gave the stock an "outperform" rating in a report on Monday, April 21st. Canaccord Genuity Group restated a "buy" rating on shares of Netflix in a report on Thursday, July 10th. The Goldman Sachs Group lifted their price objective on shares of Netflix from $1,000.00 to $1,140.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 2nd. Finally, Rosenblatt Securities lifted their price objective on shares of Netflix from $1,514.00 to $1,515.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,297.66.

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.