Wedmont Private Capital Grows Position in Netflix, Inc. (NASDAQ:NFLX)

Wedmont Private Capital increased its holdings in Netflix, Inc. (NASDAQ:NFLX) by 6.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,871 shares of the Internet television network’s stock after acquiring an additional 578 shares during the quarter. Wedmont Private Capital’s holdings in Netflix were worth $9,064,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Perennial Advisors LLC purchased a new stake in Netflix in the first quarter worth about $478,000. Clean Yield Group lifted its stake in Netflix by 31.0% in the first quarter. Clean Yield Group now owns 2,401 shares of the Internet television network’s stock worth $2,239,000 after acquiring an additional 568 shares during the period. Sivia Capital Partners LLC lifted its stake in Netflix by 4.6% in the first quarter. Sivia Capital Partners LLC now owns 1,160 shares of the Internet television network’s stock worth $1,081,000 after acquiring an additional 51 shares during the period. Godsey & Gibb Inc. purchased a new stake in Netflix in the first quarter worth about $561,000. Finally, Princeton Global Asset Management LLC lifted its stake in Netflix by 517.0% in the first quarter. Princeton Global Asset Management LLC now owns 290 shares of the Internet television network’s stock worth $270,000 after acquiring an additional 243 shares during the period. 80.93% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Netflix

In other Netflix news, Director Ann Mather sold 1,090 shares of the business’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $1,250.00, for a total value of $1,362,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Jeffrey William Karbowski sold 480 shares of the company’s stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $978.18, for a total value of $469,526.40. The disclosure for this sale can be found here. Insiders sold 153,390 shares of company stock valued at $170,509,439 over the last three months. 1.37% of the stock is owned by corporate insiders.

Netflix Stock Performance

NASDAQ NFLX opened at $1,241.47 on Friday. The company has a market cap of $528.33 billion, a P/E ratio of 62.61, a P/E/G ratio of 2.12 and a beta of 1.59. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. The stock has a 50-day moving average of $1,087.80 and a two-hundred day moving average of $988.53. Netflix, Inc. has a 1-year low of $587.04 and a 1-year high of $1,262.81.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 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 business had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $10.51 billion. During the same period in the previous year, the company posted $8.28 earnings per share. As a group, analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have commented on NFLX shares. Citigroup reissued a “neutral” rating and set a $1,250.00 price target (up from $1,020.00) on shares of Netflix in a research report on Thursday, May 29th. Needham & Company LLC reiterated a “buy” rating and issued a $1,126.00 price target on shares of Netflix in a report on Thursday, April 17th. Barclays upped their price objective on Netflix from $900.00 to $1,000.00 and gave the stock an “equal weight” rating in a research report on Monday, April 21st. Oppenheimer reiterated an “outperform” rating and set a $1,200.00 target price (up previously from $1,150.00) on shares of Netflix in a research report on Friday, April 18th. Finally, Phillip Securities upgraded Netflix from a “moderate sell” rating to a “hold” rating in a research report on Monday, April 21st. Eleven analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,149.91.

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.