Netflix, Inc. (NASDAQ:NFLX) Shares Bought by Merrion Investment Management Co LLC

Merrion Investment Management Co LLC boosted its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 4.4% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 950 shares of the Internet television network’s stock after acquiring an additional 40 shares during the period. Merrion Investment Management Co LLC’s holdings in Netflix were worth $577,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. KFA Private Wealth Group LLC grew its holdings in shares of Netflix by 1.9% during the 4th 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 period. Legacy Capital Group California Inc. increased its position 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 worth $1,379,000 after buying an additional 18 shares during the period. Founders Financial Alliance LLC boosted its stake in Netflix by 2.4% during the fourth quarter. Founders Financial Alliance LLC now owns 757 shares of the Internet television network’s stock valued at $369,000 after buying an additional 18 shares in the last quarter. Addison Advisors LLC boosted its position in shares of Netflix by 7.8% in the 4th quarter. Addison Advisors LLC now owns 276 shares of the Internet television network’s stock valued at $134,000 after purchasing an additional 20 shares during the period. Finally, PFS Partners LLC raised its stake in shares of Netflix by 40.0% during the 1st quarter. PFS Partners LLC now owns 70 shares of the Internet television network’s stock worth $43,000 after purchasing an additional 20 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Netflix Price Performance

Shares of NASDAQ:NFLX traded down $9.46 during midday trading on Friday, reaching $674.88. The company’s stock had a trading volume of 3,412,391 shares, compared to its average volume of 2,746,538. Netflix, Inc. has a fifty-two week low of $344.73 and a fifty-two week high of $689.88. The company has a market capitalization of $290.87 billion, a P/E ratio of 46.83, a P/E/G ratio of 1.46 and a beta of 1.26. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 1.07. The business’s fifty day simple moving average is $628.93 and its 200-day simple moving average is $584.34.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share for the quarter, beating analysts’ consensus estimates of $4.51 by $0.77. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The company had revenue of $9.37 billion during the quarter, compared to analyst estimates of $9.28 billion. During the same period last year, the company posted $2.88 earnings per share. The firm’s quarterly revenue was up 14.8% compared to the same quarter last year. As a group, equities research analysts expect that Netflix, Inc. will post 18.31 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider David A. Hyman sold 268 shares of Netflix stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $593.62, for a total value of $159,090.16. Following the completion of the sale, the insider now directly owns 31,610 shares in the company, valued at $18,764,328.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Netflix news, CEO Gregory K. Peters sold 4,783 shares of the firm’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $675.00, for a total transaction of $3,228,525.00. Following the transaction, the chief executive officer now owns 13,090 shares in the company, valued at $8,835,750. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider David A. Hyman sold 268 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $593.62, for a total value of $159,090.16. Following the transaction, the insider now owns 31,610 shares in the company, valued at approximately $18,764,328.20. The disclosure for this sale can be found here. Insiders sold a total of 69,425 shares of company stock worth $41,919,791 over the last three months. 1.76% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on NFLX shares. Oppenheimer reaffirmed an “outperform” rating and set a $725.00 price target on shares of Netflix in a research note on Friday, April 19th. Sanford C. Bernstein raised their price target on Netflix from $490.00 to $600.00 and gave the stock a “market perform” rating in a research note on Friday, April 19th. TD Cowen raised their price target on Netflix from $600.00 to $725.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Jefferies Financial Group reissued a “buy” rating and issued a $655.00 price objective on shares of Netflix in a research note on Wednesday, May 15th. Finally, Citigroup raised their price objective on Netflix from $555.00 to $660.00 and gave the company a “neutral” rating in a research note on Monday, March 25th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $633.53.

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.