Netflix, Inc. (NASDAQ:NFLX) Shares Bought by Perigon Wealth Management LLC

Perigon Wealth Management LLC raised its position in Netflix, Inc. (NASDAQ:NFLX) by 2.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,266 shares of the Internet television network’s stock after buying an additional 323 shares during the quarter. Perigon Wealth Management LLC’s holdings in Netflix were worth $11,438,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Omnia Family Wealth LLC boosted its stake in Netflix by 10.3% during the 1st quarter. Omnia Family Wealth LLC now owns 450 shares of the Internet television network’s stock worth $420,000 after purchasing an additional 42 shares during the period. Tyche Wealth Partners LLC raised its holdings in shares of Netflix by 1.3% in the first quarter. Tyche Wealth Partners LLC now owns 3,148 shares of the Internet television network’s stock valued at $2,936,000 after buying an additional 39 shares during the last quarter. Generate Investment Management Ltd boosted its stake in shares of Netflix by 23.0% during the first quarter. Generate Investment Management Ltd now owns 29,176 shares of the Internet television network’s stock worth $27,207,000 after buying an additional 5,456 shares during the period. Alpine Bank Wealth Management purchased a new position in shares of Netflix during the first quarter worth about $446,000. Finally, NRI Wealth Management LC increased its position in Netflix by 6.7% in the 1st quarter. NRI Wealth Management LC now owns 3,797 shares of the Internet television network’s stock valued at $3,541,000 after acquiring an additional 238 shares during the period. 80.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NFLX has been the subject of a number of recent research reports. Piper Sandler set a $1,150.00 price objective on Netflix and gave the stock an “overweight” rating in a research report on Monday, April 21st. Pivotal Research increased their price target on Netflix from $1,350.00 to $1,600.00 and gave the stock a “buy” rating in a report on Friday, June 20th. KeyCorp boosted their price objective on shares of Netflix from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a research note on Monday, April 21st. Wolfe Research set a $1,340.00 price objective on shares of Netflix and gave the stock an “outperform” rating in a research report on Friday, May 16th. Finally, Morgan Stanley lifted their target price on shares of Netflix from $1,150.00 to $1,200.00 and gave the company an “overweight” rating in a report on Monday, April 21st. Eleven investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,172.73.

Insider Transactions at Netflix

In related news, Director Jay C. Hoag sold 31,750 shares of the company’s stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $1,252.35, for a total transaction of $39,762,112.50. Following the transaction, the director now owns 63,040 shares of the company’s stock, valued at approximately $78,948,144. This represents a 33.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Reed Hastings sold 26,977 shares of the 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 transaction, the director now directly owns 394 shares in the company, valued at approximately $446,421.70. This represents a 98.56% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 184,660 shares of company stock valued at $209,802,025 over the last three months. 1.37% of the stock is currently owned by insiders.

Netflix Stock Performance

Shares of NFLX opened at $1,275.25 on Thursday. The company has a 50-day moving average of $1,169.57 and a two-hundred day moving average of $1,018.04. The stock has a market cap of $542.71 billion, a P/E ratio of 60.27, a PEG ratio of 2.47 and a beta of 1.59. Netflix, Inc. has a 12-month low of $587.04 and a 12-month high of $1,298.00. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.58.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.74 by $0.87. The firm had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $10.51 billion. Netflix had a return on equity of 39.61% and a net margin of 23.07%. During the same period in the previous year, the firm posted $8.28 EPS. As a group, research analysts predict that Netflix, Inc. will post 24.58 EPS for the current fiscal year.

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.