NorthCrest Asset Manangement LLC Purchases 254 Shares of Netflix, Inc. (NASDAQ:NFLX)

NorthCrest Asset Manangement LLC raised its position in Netflix, Inc. (NASDAQ:NFLX) by 8.9% in the 2nd quarter, Holdings Channel.com reports. The firm owned 3,101 shares of the Internet television network’s stock after buying an additional 254 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Netflix were worth $2,093,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Obermeyer Wood Investment Counsel Lllp boosted its position in Netflix by 2.8% during the 1st quarter. Obermeyer Wood Investment Counsel Lllp now owns 623 shares of the Internet television network’s stock worth $378,000 after buying an additional 17 shares during the period. Private Portfolio Partners LLC lifted its holdings in shares of Netflix by 1.7% during the first quarter. Private Portfolio Partners LLC now owns 1,042 shares of the Internet television network’s stock worth $633,000 after purchasing an additional 17 shares during the period. KFA Private Wealth Group LLC grew its stake in shares of Netflix by 1.9% in the fourth quarter. KFA Private Wealth Group LLC now owns 958 shares of the Internet television network’s stock worth $466,000 after purchasing an additional 18 shares during the last quarter. Legacy Capital Group California Inc. increased its holdings in Netflix by 0.6% in the fourth quarter. Legacy Capital Group California Inc. now owns 2,833 shares of the Internet television network’s stock valued at $1,379,000 after purchasing an additional 18 shares during the period. Finally, Founders Financial Alliance LLC raised its position in Netflix by 2.4% during the 4th quarter. Founders Financial Alliance LLC now owns 757 shares of the Internet television network’s stock worth $369,000 after purchasing an additional 18 shares during the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Morgan Stanley increased their price target on Netflix from $700.00 to $780.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Loop Capital raised their price target on shares of Netflix from $700.00 to $750.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $585.00 price objective (down from $720.00) on shares of Netflix in a research note on Friday, April 19th. Guggenheim lifted their target price on shares of Netflix from $700.00 to $735.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Finally, Redburn Atlantic upped their price target on shares of Netflix from $740.00 to $760.00 and gave the company a “buy” rating in a research report on Friday, July 19th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat.com, Netflix presently has an average rating of “Moderate Buy” and a consensus price target of $681.21.

Netflix Stock Performance

Shares of NASDAQ NFLX traded up $8.84 during midday trading on Wednesday, reaching $656.86. The company’s stock had a trading volume of 1,002,402 shares, compared to its average volume of 3,884,366. The firm has a 50 day moving average price of $653.30 and a 200-day moving average price of $619.92. The stock has a market capitalization of $283.11 billion, a P/E ratio of 45.54, a PEG ratio of 1.28 and a beta of 1.27. Netflix, Inc. has a 12-month low of $344.73 and a 12-month high of $697.49. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, beating the consensus estimate of $4.74 by $0.14. The company had revenue of $9.56 billion during the quarter, compared to analyst estimates of $9.53 billion. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The firm’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.29 earnings per share. As a group, equities analysts predict that Netflix, Inc. will post 19.08 earnings per share for the current year.

Insider Activity at Netflix

In other Netflix news, insider David A. Hyman sold 20,656 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at $19,128,159.30. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Gregory K. Peters sold 1,278 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $614.44, for a total transaction of $785,254.32. Following the completion of the transaction, the chief executive officer now owns 13,090 shares of the company’s stock, valued at $8,043,019.60. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider David A. Hyman sold 20,656 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the completion of the sale, the insider now owns 31,610 shares in the company, valued at $19,128,159.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 95,218 shares of company stock worth $60,687,405. Insiders own 1.76% of the company’s stock.

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.