Gateway Investment Advisers LLC Purchases 333 Shares of Netflix, Inc. (NASDAQ:NFLX)

Gateway Investment Advisers LLC grew its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 0.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 100,401 shares of the Internet television network’s stock after acquiring an additional 333 shares during the quarter. Netflix comprises 1.1% of Gateway Investment Advisers LLC’s holdings, making the stock its 20th largest holding. Gateway Investment Advisers LLC’s holdings in Netflix were worth $93,627,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Independence Bank of Kentucky increased its stake in Netflix by 8.5% during the 1st quarter. Independence Bank of Kentucky now owns 1,474 shares of the Internet television network’s stock valued at $1,375,000 after purchasing an additional 116 shares in the last quarter. Congress Asset Management Co. lifted its stake in shares of Netflix by 1.9% in the first quarter. Congress Asset Management Co. now owns 138,442 shares of the Internet television network’s stock valued at $129,101,000 after buying an additional 2,607 shares in the last quarter. Horizon Wealth Management LLC grew its holdings in shares of Netflix by 10.4% during the first quarter. Horizon Wealth Management LLC now owns 616 shares of the Internet television network’s stock valued at $574,000 after buying an additional 58 shares during the last quarter. Constitution Capital LLC bought a new stake in shares of Netflix during the first quarter worth about $214,000. Finally, Pines Wealth Management LLC raised its holdings in shares of Netflix by 15.9% in the 1st quarter. Pines Wealth Management LLC now owns 1,023 shares of the Internet television network’s stock worth $890,000 after acquiring an additional 140 shares during the last quarter. Institutional investors own 80.93% of the company’s stock.

Analysts Set New Price Targets

NFLX has been the subject of a number of analyst reports. Wedbush reiterated an “outperform” rating and set a $1,200.00 price target on shares of Netflix in a research note on Monday, May 5th. Barclays lifted their target price on Netflix from $900.00 to $1,000.00 and gave the company an “equal weight” rating in a research report on Monday, April 21st. Benchmark reiterated a “hold” rating on shares of Netflix in a report on Monday, April 21st. Wells Fargo & Company raised their price objective on Netflix from $1,210.00 to $1,222.00 and gave the company an “overweight” rating in a research note on Monday, April 21st. Finally, Bank of America lifted their price objective on shares of Netflix from $1,175.00 to $1,490.00 and gave the stock a “buy” rating in a report on Friday, May 30th. Eleven research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,149.91.

Insider Activity at Netflix

In other news, Director Jay C. Hoag sold 32,515 shares of the firm’s stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $1,101.97, for a total value of $35,830,554.55. Following the completion of the transaction, the director now directly owns 79,040 shares in the company, valued at approximately $87,099,708.80. This trade represents a 29.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Spencer Adam Neumann sold 2,601 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $921.72, for a total transaction of $2,397,393.72. Following the transaction, the chief financial officer now directly owns 3,691 shares of the company’s stock, valued at approximately $3,402,068.52. This represents a 41.34% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 153,390 shares of company stock worth $170,509,439. 1.37% of the stock is owned by company insiders.

Netflix Stock Performance

Shares of NFLX stock opened at $1,241.47 on Friday. The firm’s 50 day moving average is $1,087.80 and its 200 day moving average is $987.81. The stock has a market capitalization of $528.33 billion, a P/E ratio of 62.61, a PEG ratio of 2.12 and a beta of 1.59. Netflix, Inc. has a 12 month low of $587.04 and a 12 month high of $1,262.81. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56.

Netflix (NASDAQ:NFLX) last issued its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.74 by $0.87. The business had revenue of $10.54 billion for 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 quarter in the previous year, the firm posted $8.28 EPS. On average, sell-side analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current 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.