AM Investment Strategies LLC Purchases New Position in Netflix, Inc. (NASDAQ:NFLX)

AM Investment Strategies LLC acquired a new position in shares of Netflix, Inc. (NASDAQ:NFLX) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 215 shares of the Internet television network’s stock, valued at approximately $200,000.

Several other hedge funds have also recently bought and sold shares of the stock. FMR LLC lifted its position in Netflix by 1.8% during the fourth quarter. FMR LLC now owns 20,887,090 shares of the Internet television network’s stock worth $18,617,081,000 after acquiring an additional 375,234 shares during the last quarter. Geode Capital Management LLC lifted its position in Netflix by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 9,323,952 shares of the Internet television network’s stock worth $8,287,823,000 after acquiring an additional 175,596 shares during the last quarter. GAMMA Investing LLC lifted its position in Netflix by 109,524.3% during 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 acquiring an additional 8,827,662 shares during the last quarter. Norges Bank acquired a new stake in Netflix during the fourth quarter worth approximately $5,019,087,000. Finally, Alliancebernstein L.P. lifted its position in Netflix by 1.6% during the fourth quarter. Alliancebernstein L.P. now owns 5,141,328 shares of the Internet television network’s stock worth $4,582,568,000 after acquiring an additional 82,564 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Barclays restated a “sell” rating and set a $1,100.00 price objective (up from $1,000.00) on shares of Netflix in a research report on Wednesday, July 9th. Oppenheimer lifted their price target on shares of Netflix from $1,200.00 to $1,425.00 and gave the company an “outperform” rating in a research report on Thursday, June 12th. Evercore ISI reiterated an “outperform” rating on shares of Netflix in a research report on Thursday, May 15th. Phillip Securities downgraded shares of Netflix from a “hold” rating to a “strong sell” rating in a research report on Monday. Finally, KeyCorp lifted their price target on shares of Netflix from $1,070.00 to $1,390.00 and gave the company an “overweight” rating in a research report on Thursday, July 10th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,297.66.

Insider Activity

In other Netflix news, Director Reed Hastings sold 9,673 shares of the business’s stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $1,329.11, for a total transaction of $12,856,481.03. Following the sale, the director owned 394 shares of the company’s stock, valued at approximately $523,669.34. The trade was a 96.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Ann Mather sold 1,090 shares of the business’s stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $1,250.00, for a total transaction of $1,362,500.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 185,923 shares of company stock valued at $222,445,095. 1.37% of the stock is currently owned by insiders.

Netflix Stock Up 0.3%

Shares of NFLX opened at $1,180.76 on Friday. Netflix, Inc. has a one year low of $587.04 and a one year high of $1,341.15. The company has a market cap of $501.74 billion, a P/E ratio of 50.31, a P/E/G ratio of 1.98 and a beta of 1.59. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.34 and a quick ratio of 1.20. The firm has a 50 day simple moving average of $1,236.66 and a two-hundred day simple moving average of $1,069.32.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share for the quarter, topping analysts’ consensus estimates of $7.07 by $0.12. The firm had revenue of $11.08 billion for the quarter, compared to analysts’ expectations of $11.04 billion. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The company’s revenue was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.88 earnings per share. Research analysts forecast that Netflix, Inc. will post 24.58 EPS 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.