Northeast Investment Management Has $12.43 Million Holdings in Netflix, Inc. (NASDAQ:NFLX)

Northeast Investment Management grew its position in Netflix, Inc. (NASDAQ:NFLX) by 37.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,331 shares of the Internet television network’s stock after buying an additional 3,628 shares during the quarter. Northeast Investment Management’s holdings in Netflix were worth $12,432,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Pathway Financial Advisers LLC lifted its position in shares of Netflix by 82.4% in the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock valued at $27,000 after acquiring an additional 14 shares in the last quarter. Brown Shipley& Co Ltd purchased a new position in Netflix during the 4th quarter worth approximately $27,000. Transce3nd LLC acquired a new stake in Netflix during the 4th quarter valued at $32,000. Pineridge Advisors LLC lifted its holdings in shares of Netflix by 4,000.0% in the fourth quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock valued at $37,000 after purchasing an additional 40 shares in the last quarter. Finally, Copia Wealth Management purchased a new stake in shares of Netflix in the fourth quarter valued at $37,000. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Jay C. Hoag sold 32,515 shares of Netflix stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $1,101.97, for a total value of $35,830,554.55. Following the transaction, the director now directly owns 79,040 shares in the company, valued at approximately $87,099,708.80. The trade was a 29.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ann Mather sold 1,358 shares of the stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $1,150.00, for a total value of $1,561,700.00. The disclosure for this sale can be found here. In the last three months, insiders sold 185,140 shares of company stock valued at $210,271,552. Company insiders own 1.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Wolfe Research set a $1,340.00 price target on Netflix and gave the company an “outperform” rating in a report on Friday, May 16th. UBS Group raised their price objective on Netflix from $1,150.00 to $1,450.00 and gave the stock a “buy” rating in a research report on Wednesday, June 4th. Macquarie lifted their target price on Netflix from $1,150.00 to $1,200.00 and gave the company an “outperform” rating in a research note on Monday, April 21st. Canaccord Genuity Group increased their price target on shares of Netflix from $1,200.00 to $1,380.00 and gave the stock a “buy” rating in a research report on Friday, May 16th. Finally, FBN Securities initiated coverage on shares of Netflix in a report on Thursday, March 27th. They set an “outperform” rating and a $1,165.00 price target for the company. Eleven research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Netflix currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,149.91.

Netflix Stock Performance

Shares of NASDAQ NFLX opened at $1,203.62 on Wednesday. The business’s 50-day simple moving average is $1,099.31 and its 200-day simple moving average is $992.93. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. Netflix, Inc. has a 52 week low of $587.04 and a 52 week high of $1,262.81. The firm has a market cap of $512.23 billion, a price-to-earnings ratio of 60.70, a P/E/G ratio of 2.12 and a beta of 1.59.

Netflix (NASDAQ:NFLX) last announced its 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 analysts’ expectations of $10.51 billion. During the same quarter in the prior year, the business earned $8.28 earnings per share. As a group, equities research analysts expect that Netflix, Inc. will post 24.58 earnings per share for the current fiscal year.

Netflix 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.