Ritholtz Wealth Management Has $6.86 Million Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Ritholtz Wealth Management increased its position in shares of Netflix, Inc. (NASDAQ:NFLX) by 22.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,351 shares of the Internet television network’s stock after buying an additional 1,330 shares during the quarter. Ritholtz Wealth Management’s holdings in Netflix were worth $6,855,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in NFLX. GAMMA Investing LLC raised its stake in shares of Netflix by 109,524.3% in the first quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network’s stock worth $8,239,576,000 after purchasing an additional 8,827,662 shares during the last quarter. Norges Bank purchased a new stake in shares of Netflix in the fourth quarter worth approximately $5,019,087,000. Proficio Capital Partners LLC raised its stake in shares of 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 purchasing an additional 1,924,423 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Netflix by 59.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,301,098 shares of the Internet television network’s stock worth $2,051,016,000 after purchasing an additional 856,307 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Netflix by 318.9% in 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 purchasing an additional 743,724 shares during the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Price Performance

Netflix stock opened at $1,212.15 on Friday. Netflix, Inc. has a one year low of $587.04 and a one year high of $1,262.81. The business has a fifty day moving average price of $1,120.37 and a 200-day moving average price of $1,000.10. 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 firm has a market capitalization of $515.86 billion, a P/E ratio of 61.13, a PEG ratio of 2.12 and a beta of 1.59.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results 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 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 earnings per share. As a group, equities research analysts forecast that Netflix, Inc. will post 24.58 EPS for the current year.

Insider Transactions at Netflix

In related news, Director Jay C. Hoag sold 31,750 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $1,252.35, for a total value of $39,762,112.50. Following the sale, the director now owns 63,040 shares in the company, valued at approximately $78,948,144. This trade represents a 33.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ann Mather sold 1,090 shares of the stock in a transaction 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 disclosure for this sale can be found here. Insiders sold 185,140 shares of company stock valued at $210,271,552 over the last three months. Company insiders own 1.37% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the company. Wedbush reissued an “outperform” rating and issued a $1,200.00 price objective on shares of Netflix in a research note on Monday, May 5th. Morgan Stanley increased their price objective on Netflix from $1,150.00 to $1,200.00 and gave the stock an “overweight” rating in a research note on Monday, April 21st. Jefferies Financial Group increased their price objective on Netflix from $1,200.00 to $1,400.00 and gave the stock a “buy” rating in a research note on Tuesday, June 3rd. FBN Securities initiated coverage on Netflix in a research report on Thursday, March 27th. They set an “outperform” rating and a $1,165.00 price target for the company. Finally, Benchmark reaffirmed a “hold” rating on shares of Netflix in a research report on Monday, April 21st. Eleven equities 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 stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,156.73.

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.