Financial Management Network Inc. Acquires 50 Shares of Netflix, Inc. (NASDAQ:NFLX)

Financial Management Network Inc. lifted its position in Netflix, Inc. (NASDAQ:NFLX) by 13.9% in the 1st quarter, HoldingsChannel.com reports. The fund owned 410 shares of the Internet television network’s stock after buying an additional 50 shares during the period. Financial Management Network Inc.’s holdings in Netflix were worth $356,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in NFLX. GAMMA Investing LLC raised its holdings 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 valued at $8,239,576,000 after acquiring an additional 8,827,662 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings 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 valued at $2,051,016,000 after acquiring an additional 856,307 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings 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 valued at $870,752,000 after acquiring an additional 743,724 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Netflix by 14.3% in 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 acquiring an additional 570,674 shares in the last quarter. Finally, Two Sigma Advisers LP raised its holdings in shares of Netflix by 935.7% in the fourth quarter. Two Sigma Advisers LP now owns 461,900 shares of the Internet television network’s stock valued at $411,701,000 after acquiring an additional 417,300 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors.

Netflix Trading Down 0.0%

Shares of NFLX stock opened at $1,180.49 on Monday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.34 and a quick ratio of 1.34. The company has a market cap of $501.63 billion, a price-to-earnings ratio of 50.30, a PEG ratio of 1.99 and a beta of 1.59. The stock has a 50 day simple moving average of $1,236.44 and a 200-day simple moving average of $1,074.14. Netflix, Inc. has a 1-year low of $587.04 and a 1-year high of $1,341.15.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share for the quarter, topping the consensus estimate of $7.07 by $0.12. The business had revenue of $11.08 billion during the quarter, compared to the consensus estimate of $11.04 billion. Netflix had a return on equity of 42.50% and a net margin of 24.58%. The business’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the company posted $4.88 EPS. On average, equities research analysts expect that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Reed Hastings sold 26,977 shares of the company’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $1,133.05, for a total transaction of $30,566,289.85. Following the completion of the transaction, the director directly owned 394 shares of the company’s stock, valued at $446,421.70. This represents a 98.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Spencer Adam Neumann sold 2,601 shares of the business’s stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $1,211.67, for a total value of $3,151,553.67. Following the sale, the chief financial officer owned 3,691 shares of the company’s stock, valued at $4,472,273.97. The trade was a 41.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 185,923 shares of company stock valued at $222,445,095. Corporate insiders own 1.37% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on NFLX shares. Phillip Securities lowered Netflix from a “hold” rating to a “strong sell” rating in a research note on Monday, July 21st. KeyCorp lifted their target price on Netflix from $1,070.00 to $1,390.00 and gave the company an “overweight” rating in a research note on Thursday, July 10th. Canaccord Genuity Group reiterated a “buy” rating on shares of Netflix in a research note on Thursday, July 10th. Rosenblatt Securities lifted their target price on Netflix from $1,514.00 to $1,515.00 and gave the company a “buy” rating in a research note on Friday, July 18th. Finally, Wedbush reiterated an “outperform” rating and issued a $1,500.00 target price (up previously from $1,400.00) on shares of Netflix in a research note on Monday, July 14th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $1,297.66.

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.