Wedmont Private Capital Purchases 578 Shares of Netflix, Inc. (NASDAQ:NFLX)

Wedmont Private Capital boosted its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 6.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,871 shares of the Internet television network's stock after buying an additional 578 shares during the quarter. Wedmont Private Capital's holdings in Netflix were worth $9,064,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Perennial Advisors LLC bought a new position in Netflix in the 1st quarter worth $478,000. Clean Yield Group increased its stake in shares of Netflix by 31.0% in the 1st quarter. Clean Yield Group now owns 2,401 shares of the Internet television network's stock worth $2,239,000 after acquiring an additional 568 shares in the last quarter. Sivia Capital Partners LLC increased its stake in shares of Netflix by 4.6% in the 1st quarter. Sivia Capital Partners LLC now owns 1,160 shares of the Internet television network's stock worth $1,081,000 after acquiring an additional 51 shares in the last quarter. Godsey & Gibb Inc. bought a new position in shares of Netflix in the 1st quarter worth about $561,000. Finally, Princeton Global Asset Management LLC grew its position in Netflix by 517.0% during the 1st quarter. Princeton Global Asset Management LLC now owns 290 shares of the Internet television network's stock valued at $270,000 after purchasing an additional 243 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on NFLX. Cfra Research raised shares of Netflix to a "strong-buy" rating in a research report on Monday, April 28th. Loop Capital reaffirmed a "hold" rating on shares of Netflix in a report on Monday, March 24th. Pivotal Research raised their price target 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. BMO Capital Markets reaffirmed an "outperform" rating and set a $1,200.00 price target (up previously from $1,175.00) on shares of Netflix in a report on Friday, April 18th. Finally, Rosenblatt Securities raised their price target on shares of Netflix from $1,494.00 to $1,514.00 and gave the company a "buy" rating in a report on Monday, April 21st. Eleven investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Netflix has an average rating of "Moderate Buy" and an average target price of $1,149.91.

Insider Buying and Selling at Netflix

In other Netflix news, insider Cletus R. Willems sold 298 shares of the business's stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $1,138.00, for a total transaction of $339,124.00. Following the transaction, the insider now 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 legal filing with the SEC, which is available at this link. Also, Director Jay C. Hoag sold 32,515 shares of the business's stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $1,101.97, for a total transaction of $35,830,554.55. Following the sale, the director now directly owns 79,040 shares of the company's stock, valued at $87,099,708.80. This represents a 29.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 153,390 shares of company stock worth $170,509,439 over the last quarter. Insiders own 1.37% of the company's stock.

Netflix Trading Down 0.7%

Shares of NFLX opened at $1,241.47 on Friday. The company's fifty day moving average is $1,087.80 and its 200 day moving average is $988.53. Netflix, Inc. has a fifty-two week low of $587.04 and a fifty-two week high of $1,262.81. The stock has a market capitalization of $528.33 billion, a PE ratio of 62.61, a P/E/G ratio of 2.12 and a beta of 1.59. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, topping 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 company had revenue of $10.54 billion for the quarter, compared to analysts' expectations of $10.51 billion. During the same quarter in the previous year, the business posted $8.28 earnings per share. Sell-side analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

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.

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