Canopy Partners LLC Has $928,000 Holdings in Netflix, Inc. (NASDAQ:NFLX)

Canopy Partners LLC boosted its stake in Netflix, Inc. (NASDAQ:NFLX) by 2.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 995 shares of the Internet television network’s stock after purchasing an additional 24 shares during the quarter. Canopy Partners LLC’s holdings in Netflix were worth $928,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in NFLX. GAMMA Investing LLC grew its holdings in shares of Netflix by 109,524.3% in the 1st quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network’s stock valued at $8,239,576,000 after buying an additional 8,827,662 shares during the period. Massachusetts Financial Services Co. MA increased 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 worth $870,752,000 after acquiring an additional 743,724 shares in the last quarter. Northern Trust Corp raised its position in shares of Netflix by 14.3% during the fourth quarter. Northern Trust Corp now owns 4,574,006 shares of the Internet television network’s stock worth $4,076,903,000 after purchasing an additional 570,674 shares during the period. Two Sigma Advisers LP raised its position in shares of Netflix by 935.7% during the fourth quarter. Two Sigma Advisers LP now owns 461,900 shares of the Internet television network’s stock worth $411,701,000 after purchasing an additional 417,300 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Netflix during the 4th quarter valued at about $355,076,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Price Performance

NASDAQ:NFLX opened at $1,174.60 on Tuesday. The firm’s fifty day moving average price is $1,236.10 and its two-hundred day moving average price is $1,076.50. 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 $499.12 billion, a P/E ratio of 50.05, a P/E/G ratio of 1.99 and a beta of 1.59. Netflix, Inc. has a one year low of $587.04 and a one year high of $1,341.15.

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on NFLX shares. Needham & Company LLC reissued a “buy” rating and set a $1,500.00 target price on shares of Netflix in a research note on Friday, July 18th. KeyCorp increased their price objective on shares of Netflix from $1,070.00 to $1,390.00 and gave the stock an “overweight” rating in a research report on Thursday, July 10th. Morgan Stanley restated an “equal weight” rating on shares of Netflix in a report on Monday, July 21st. Cfra Research raised shares of Netflix to a “strong-buy” rating in a research note on Monday, April 28th. Finally, The Goldman Sachs Group boosted their price target on Netflix from $1,000.00 to $1,140.00 and gave the company a “neutral” rating in a report on Wednesday, July 2nd. Three 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,297.66.

Insider Transactions at Netflix

In related news, Director Reed Hastings sold 26,977 shares of the business’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $1,133.05, for a total value of $30,566,289.85. Following the completion of the sale, the director directly owned 394 shares in the company, valued at $446,421.70. The trade was a 98.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jay C. Hoag sold 31,750 shares of the company’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $1,252.35, for a total value of $39,762,112.50. Following the completion of the transaction, the director directly owned 63,040 shares in the company, valued at approximately $78,948,144. This represents a 33.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 153,408 shares of company stock worth $186,614,540 in the last ninety days. 1.37% of the stock is currently owned by company insiders.

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.