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

EP Wealth Advisors LLC increased its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 4.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,592 shares of the Internet television network’s stock after buying an additional 789 shares during the quarter. EP Wealth Advisors LLC’s holdings in Netflix were worth $15,680,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of NFLX. Norges Bank purchased a new stake in shares of Netflix in the 4th quarter valued at about $5,019,087,000. Proficio Capital Partners LLC boosted its stake in Netflix by 123,836.7% in the fourth quarter. Proficio Capital Partners LLC now owns 1,925,977 shares of the Internet television network’s stock worth $1,716,662,000 after buying an additional 1,924,423 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in Netflix by 59.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,301,098 shares of the Internet television network’s stock valued at $2,051,016,000 after acquiring an additional 856,307 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Netflix by 318.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 976,924 shares of the Internet television network’s stock worth $870,752,000 after acquiring an additional 743,724 shares in the last quarter. Finally, Northern Trust Corp boosted its position in Netflix by 14.3% during the fourth quarter. Northern Trust Corp now owns 4,574,006 shares of the Internet television network’s stock valued at $4,076,903,000 after buying an additional 570,674 shares during the period. 80.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NFLX has been the subject of a number of recent analyst reports. Barclays upped their target price on Netflix from $900.00 to $1,000.00 and gave the company an “equal weight” rating in a report on Monday, April 21st. Needham & Company LLC reiterated a “buy” rating and issued a $1,126.00 price target on shares of Netflix in a research note on Thursday, April 17th. FBN Securities started coverage on Netflix in a research report on Thursday, March 27th. They issued an “outperform” rating and a $1,165.00 target price for the company. Canaccord Genuity Group lifted their price objective on Netflix from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a report on Monday, April 21st. Finally, Robert W. Baird lifted their price target on shares of Netflix from $875.00 to $1,200.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,084.91.

Netflix Stock Performance

Netflix stock opened at $1,155.41 on Thursday. Netflix, Inc. has a 1-year low of $587.04 and a 1-year high of $1,166.25. The company’s 50-day moving average is $978.21 and its 200 day moving average is $926.63. The firm has a market capitalization of $491.71 billion, a P/E ratio of 58.27, a price-to-earnings-growth ratio of 2.12 and a beta of 1.58. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.74 by $0.87. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The firm had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.51 billion. During the same period last year, the company earned $8.28 EPS. Research analysts forecast that Netflix, Inc. will post 24.58 EPS for the current year.

Insider Buying and Selling

In related news, Chairman Reed Hastings sold 25,360 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $362,933.10. This represents a 98.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Cletus R. Willems sold 298 shares of the firm’s stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $1,138.00, for a total transaction of $339,124.00. Following the transaction, the insider now directly owns 31,610 shares in the company, valued at $35,972,180. This trade represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 132,530 shares of company stock valued at $137,602,751 in the last 90 days. Company insiders own 1.76% of the company’s stock.

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.