Naviter Wealth LLC Increases Stock Holdings in Netflix, Inc. (NASDAQ:NFLX)

Naviter Wealth LLC boosted its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 12.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,592 shares of the Internet television network’s stock after acquiring an additional 277 shares during the quarter. Naviter Wealth LLC’s holdings in Netflix were worth $1,574,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of NFLX. Norges Bank purchased a new stake in Netflix during the fourth quarter worth approximately $2,558,598,000. Wellington Management Group LLP lifted its stake in Netflix by 540.9% during the fourth quarter. Wellington Management Group LLP now owns 3,878,785 shares of the Internet television network’s stock worth $1,888,503,000 after purchasing an additional 3,273,592 shares during the last quarter. International Assets Investment Management LLC lifted its stake in Netflix by 15,039.1% during the fourth quarter. International Assets Investment Management LLC now owns 2,075,569 shares of the Internet television network’s stock worth $1,010,553,000 after purchasing an additional 2,061,859 shares during the last quarter. Jennison Associates LLC lifted its stake in Netflix by 40.6% during the fourth quarter. Jennison Associates LLC now owns 5,452,271 shares of the Internet television network’s stock worth $2,654,602,000 after purchasing an additional 1,573,978 shares during the last quarter. Finally, Global Assets Advisory LLC purchased a new stake in Netflix during the first quarter worth approximately $436,514,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NFLX has been the topic of several research analyst reports. Bank of America lifted their price target on Netflix from $650.00 to $700.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Oppenheimer reaffirmed an “outperform” rating and set a $725.00 price target on shares of Netflix in a research report on Friday, April 19th. Citigroup lifted their price target on Netflix from $555.00 to $660.00 and gave the stock a “neutral” rating in a research report on Monday, March 25th. Benchmark lifted their price target on Netflix from $440.00 to $450.00 and gave the stock a “sell” rating in a research report on Friday, May 17th. Finally, CICC Research began coverage on Netflix in a research report on Thursday, May 2nd. They set an “outperform” rating and a $650.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $637.34.

Netflix Stock Up 0.9 %

NFLX opened at $679.58 on Wednesday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.62. The firm has a market cap of $292.90 billion, a P/E ratio of 47.16, a PEG ratio of 1.46 and a beta of 1.27. Netflix, Inc. has a 52 week low of $344.73 and a 52 week high of $689.88. The business’s fifty day simple moving average is $631.31 and its 200 day simple moving average is $586.51.

Netflix (NASDAQ:NFLX) last issued 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. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The firm had revenue of $9.37 billion for the quarter, compared to analyst estimates of $9.28 billion. During the same period last year, the company earned $2.88 EPS. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. As a group, equities research analysts anticipate that Netflix, Inc. will post 18.31 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Anne M. Sweeney sold 633 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $560.00, for a total value of $354,480.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Anne M. Sweeney sold 633 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $560.00, for a total value of $354,480.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Reed Hastings sold 22,526 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $670.49, for a total value of $15,103,457.74. Following the completion of the transaction, the chairman now owns 57 shares in the company, valued at $38,217.93. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 71,385 shares of company stock valued at $44,469,351. Insiders own 1.76% of the company’s stock.

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.