Alpha Cubed Investments LLC Raises Holdings in Netflix, Inc. (NASDAQ:NFLX)

Alpha Cubed Investments LLC increased its position in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 9.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 69,294 shares of the Internet television network's stock after purchasing an additional 6,257 shares during the quarter. Netflix makes up approximately 1.9% of Alpha Cubed Investments LLC's investment portfolio, making the stock its 15th largest position. Alpha Cubed Investments LLC's holdings in Netflix were worth $33,738,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Columbia Trust Co 01012016 increased its position in shares of Netflix by 15.3% during the fourth quarter. Columbia Trust Co 01012016 now owns 1,566 shares of the Internet television network's stock worth $762,000 after purchasing an additional 208 shares in the last quarter. Crumly & Associates Inc. grew its holdings in Netflix by 4.1% in the 4th quarter. Crumly & Associates Inc. now owns 2,105 shares of the Internet television network's stock valued at $1,025,000 after buying an additional 83 shares in the last quarter. Venture Visionary Partners LLC grew its holdings in Netflix by 15.4% in the 4th quarter. Venture Visionary Partners LLC now owns 9,849 shares of the Internet television network's stock valued at $4,795,000 after buying an additional 1,318 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in Netflix by 142.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 667,597 shares of the Internet television network's stock valued at $252,085,000 after buying an additional 392,427 shares in the last quarter. Finally, Sandy Cove Advisors LLC grew its holdings in Netflix by 10.6% in the 4th quarter. Sandy Cove Advisors LLC now owns 1,187 shares of the Internet television network's stock valued at $578,000 after buying an additional 114 shares in the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on NFLX shares. Citigroup upped their target price on Netflix from $555.00 to $660.00 and gave the company a "neutral" rating in a report on Monday, March 25th. Robert W. Baird upped their target price on Netflix from $500.00 to $600.00 and gave the company an "outperform" rating in a report on Wednesday, January 24th. DZ Bank raised Netflix from a "hold" rating to a "buy" rating and set a $600.00 price target on the stock in a research note on Thursday, January 25th. Canaccord Genuity Group lowered Netflix from a "buy" rating to a "hold" rating and decreased their price target for the company from $720.00 to $585.00 in a research note on Friday, April 19th. Finally, UBS Group upped their price target on Netflix from $570.00 to $685.00 and gave the company a "buy" rating in a research note on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-two have given a buy rating to the company's stock. According to MarketBeat.com, Netflix has a consensus rating of "Moderate Buy" and a consensus price target of $630.58.

Insider Buying and Selling

In other Netflix news, Chairman Reed Hastings sold 20,566 shares of Netflix stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $610.42, for a total value of $12,553,897.72. Following the transaction, the chairman now directly owns 28 shares in the company, valued at approximately $17,091.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Netflix news, Chairman Reed Hastings sold 20,566 shares of Netflix stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $610.42, for a total value of $12,553,897.72. Following the transaction, the chairman now directly owns 28 shares in the company, valued at approximately $17,091.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gregory K. Peters sold 5,352 shares of the firm's stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $625.00, for a total value of $3,345,000.00. Following the completion of the sale, the chief executive officer now directly owns 13,090 shares of the company's stock, valued at $8,181,250. The disclosure for this sale can be found here. Insiders have sold 154,573 shares of company stock worth $89,548,241 in the last quarter. 1.76% of the stock is owned by insiders.

Netflix Stock Performance

NASDAQ:NFLX traded down $8.85 during mid-day trading on Tuesday, reaching $550.64. 3,357,616 shares of the stock were exchanged, compared to its average volume of 4,478,684. The company has a 50 day simple moving average of $604.05 and a 200-day simple moving average of $522.96. The stock has a market capitalization of $237.27 billion, a P/E ratio of 38.46, a P/E/G ratio of 1.37 and a beta of 1.22. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.62. Netflix, Inc. has a 1 year low of $315.62 and a 1 year high of $639.00.

Netflix (NASDAQ:NFLX - Get Free Report) last released its quarterly earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.51 by $0.77. The firm had revenue of $9.37 billion for the quarter, compared to the consensus estimate of $9.28 billion. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The firm's quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter last year, the business posted $2.88 EPS. Analysts anticipate that Netflix, Inc. will post 18.13 earnings per share for the current fiscal 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.

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