Netflix, Inc. (NASDAQ:NFLX) Shares Bought by NorthRock Partners LLC

NorthRock Partners LLC raised its stake in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 169.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,713 shares of the Internet television network's stock after buying an additional 5,476 shares during the quarter. NorthRock Partners LLC's holdings in Netflix were worth $7,766,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of NFLX. Vanguard Group Inc. grew its stake in shares of Netflix by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 37,488,005 shares of the Internet television network's stock valued at $33,413,809,000 after buying an additional 171,712 shares during the period. FMR LLC lifted its holdings in Netflix by 1.8% in the fourth quarter. FMR LLC now owns 20,887,090 shares of the Internet television network's stock valued at $18,617,081,000 after acquiring an additional 375,234 shares during the last quarter. Geode Capital Management LLC grew its position in Netflix by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 9,323,952 shares of the Internet television network's stock worth $8,287,823,000 after acquiring an additional 175,596 shares during the period. Norges Bank acquired a new stake in Netflix during the fourth quarter worth $5,019,087,000. Finally, Alliancebernstein L.P. raised its position in Netflix by 1.6% in the fourth quarter. Alliancebernstein L.P. now owns 5,141,328 shares of the Internet television network's stock valued at $4,582,568,000 after purchasing an additional 82,564 shares during the period. 80.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. StockNews.com downgraded Netflix from a "buy" rating to a "hold" rating in a research report on Tuesday, February 4th. Phillip Securities upgraded shares of Netflix from a "moderate sell" rating to a "hold" rating in a research report on Monday, April 21st. UBS Group decreased their price objective on shares of Netflix from $1,150.00 to $1,140.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Oppenheimer reaffirmed an "outperform" rating and set a $1,200.00 price objective (up previously from $1,150.00) on shares of Netflix in a research report on Friday, April 18th. Finally, KeyCorp boosted their target price on Netflix from $1,000.00 to $1,070.00 and gave the company an "overweight" rating in a research report on Monday, April 21st. Ten analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Netflix presently has an average rating of "Moderate Buy" and a consensus price target of $1,084.91.

Insider Activity at Netflix

In related news, CFO Spencer Adam Neumann sold 2,601 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $982.05, for a total transaction of $2,554,312.05. Following the completion of the transaction, the chief financial officer now directly owns 3,691 shares of the company's stock, valued at $3,624,746.55. This represents a 41.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Reed Hastings sold 25,360 shares of Netflix stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $921.15, for a total value of $23,360,364.00. Following the completion of the sale, the chairman now directly owns 394 shares in the company, valued at $362,933.10. This represents a 98.47% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 132,868 shares of company stock worth $138,483,256 in the last 90 days. 1.76% of the stock is owned by insiders.

Netflix Trading Up 2.6%

Shares of Netflix stock opened at $1,138.44 on Wednesday. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. The company has a fifty day simple moving average of $991.99 and a 200-day simple moving average of $938.19. The stock has a market cap of $484.49 billion, a price-to-earnings ratio of 57.41, a PEG ratio of 2.12 and a beta of 1.58. Netflix, Inc. has a 12-month low of $587.04 and a 12-month high of $1,164.00.

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, beating analysts' consensus estimates of $5.74 by $0.87. The firm had revenue of $10.54 billion during the quarter, compared to analysts' expectations of $10.51 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. During the same period in the previous year, the company earned $8.28 earnings per share. On average, equities analysts forecast that Netflix, Inc. will post 24.58 EPS 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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