Hennion & Walsh Asset Management Inc. Takes Position in Netflix, Inc. (NASDAQ:NFLX)

Hennion & Walsh Asset Management Inc. bought a new stake in Netflix, Inc. (NASDAQ:NFLX) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 378 shares of the Internet television network’s stock, valued at approximately $230,000.

Other hedge funds have also modified their holdings of the company. Trifecta Capital Advisors LLC grew its holdings in shares of Netflix by 304.3% in the first quarter. Trifecta Capital Advisors LLC now owns 93 shares of the Internet television network’s stock valued at $56,000 after purchasing an additional 70 shares during the period. Viewpoint Capital Management LLC purchased a new stake in shares of Netflix in the first quarter valued at about $231,000. Occidental Asset Management LLC grew its holdings in shares of Netflix by 10.4% in the first quarter. Occidental Asset Management LLC now owns 586 shares of the Internet television network’s stock valued at $356,000 after purchasing an additional 55 shares during the period. WD Rutherford LLC grew its holdings in shares of Netflix by 151.9% in the first quarter. WD Rutherford LLC now owns 4,987 shares of the Internet television network’s stock valued at $3,029,000 after purchasing an additional 3,007 shares during the period. Finally, Independence Bank of Kentucky grew its holdings in shares of Netflix by 3.3% in the first quarter. Independence Bank of Kentucky now owns 1,095 shares of the Internet television network’s stock valued at $665,000 after purchasing an additional 35 shares during the period. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Netflix Stock Up 0.4 %

Shares of NASDAQ:NFLX opened at $682.51 on Friday. The company has a market capitalization of $294.16 billion, a PE ratio of 47.36, a P/E/G ratio of 1.47 and a beta of 1.27. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.62. Netflix, Inc. has a twelve month low of $344.73 and a twelve month high of $689.88. The firm has a 50 day simple moving average of $635.90 and a 200-day simple moving average of $588.63.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 earnings per share for the quarter, topping the consensus estimate of $4.51 by $0.77. The business had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $9.28 billion. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The company’s revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.88 EPS. On average, equities analysts predict that Netflix, Inc. will post 18.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NFLX. Oppenheimer reissued an “outperform” rating and issued a $725.00 price objective on shares of Netflix in a report on Friday, April 19th. Canaccord Genuity Group reaffirmed a “hold” rating and set a $585.00 target price (down previously from $720.00) on shares of Netflix in a research note on Friday, April 19th. Barclays increased their target price on shares of Netflix from $475.00 to $550.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Piper Sandler increased their target price on shares of Netflix from $550.00 to $600.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Finally, Canaccord Genuity Group lowered shares of Netflix from a “buy” rating to a “hold” rating and lowered their target price for the stock from $720.00 to $585.00 in a research note on Friday, April 19th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $637.34.

Insider Transactions at Netflix

In related news, insider David A. Hyman sold 268 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $593.62, for a total value of $159,090.16. Following the completion of the sale, the insider now owns 31,610 shares in the company, valued at approximately $18,764,328.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider David A. Hyman sold 268 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $593.62, for a total value of $159,090.16. Following the completion of the sale, the insider now owns 31,610 shares in the company, valued at approximately $18,764,328.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Spencer Adam Neumann sold 564 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $613.08, for a total transaction of $345,777.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 71,385 shares of company stock worth $44,469,351. 1.76% of the stock is currently owned by insiders.

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.