Kovack Advisors Inc. Boosts Position in Netflix, Inc. (NASDAQ:NFLX)

Kovack Advisors Inc. raised its holdings in shares of Netflix, Inc. (NASDAQ:NFLX) by 13.9% during the first quarter, HoldingsChannel reports. The institutional investor owned 1,891 shares of the Internet television network’s stock after acquiring an additional 231 shares during the quarter. Kovack Advisors Inc.’s holdings in Netflix were worth $1,148,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Spartan Planning & Wealth Management purchased a new stake in Netflix during the 3rd quarter worth $26,000. VitalStone Financial LLC lifted its stake in shares of Netflix by 933.3% during the fourth quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock worth $30,000 after purchasing an additional 56 shares in the last quarter. Beaird Harris Wealth Management LLC boosted its position in shares of Netflix by 1,550.0% in the fourth quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock worth $32,000 after buying an additional 62 shares during the period. Scarborough Advisors LLC acquired a new stake in shares of Netflix in the fourth quarter valued at about $32,000. Finally, Indiana Trust & Investment Management CO raised its holdings in shares of Netflix by 112.0% during the 1st quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock valued at $32,000 after buying an additional 28 shares during the period. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on NFLX shares. Morgan Stanley upped their price target on Netflix from $600.00 to $700.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. BMO Capital Markets reaffirmed an “outperform” rating and set a $713.00 price target (up from $638.00) on shares of Netflix in a report on Wednesday, April 17th. Argus lifted their price target on shares of Netflix from $660.00 to $767.00 and gave the stock a “buy” rating in a research note on Tuesday. Citigroup upped their price objective on shares of Netflix from $555.00 to $660.00 and gave the company a “neutral” rating in a research report on Monday, March 25th. Finally, Sanford C. Bernstein raised their target price on Netflix from $490.00 to $600.00 and gave the company a “market perform” rating in a research note on Friday, April 19th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $637.34.

Netflix Trading Up 0.4 %

Shares of NASDAQ NFLX opened at $682.51 on Friday. Netflix, Inc. has a 12-month low of $344.73 and a 12-month high of $689.88. The company has a market cap of $294.16 billion, a price-to-earnings ratio of 47.36, a price-to-earnings-growth 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. The stock’s 50 day simple moving average is $635.90 and its 200 day simple moving average is $588.63.

Netflix (NASDAQ:NFLX) last issued its earnings results 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. 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 earnings per share. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. Equities research analysts expect that Netflix, Inc. will post 18.31 EPS for the current year.

Insider Activity at Netflix

In other Netflix news, insider David A. Hyman sold 268 shares of the company’s stock in a transaction dated 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 transaction, 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 is available through the SEC website. In other Netflix news, CEO Gregory K. Peters sold 1,278 shares of Netflix stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $593.81, for a total transaction of $758,889.18. Following the sale, the chief executive officer now owns 13,090 shares of the company’s stock, valued at approximately $7,772,972.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider David A. Hyman sold 268 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $593.62, for a total value of $159,090.16. Following the completion of the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $18,764,328.20. The disclosure for this sale can be found here. Insiders have sold a total of 71,385 shares of company stock worth $44,469,351 in the last ninety days. 1.76% of the stock is owned by insiders.

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.