Aspetuck Financial Management LLC Purchases New Holdings in Netflix, Inc. (NASDAQ:NFLX)

Aspetuck Financial Management LLC purchased a new stake in shares of Netflix, Inc. (NASDAQ:NFLX) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 543 shares of the Internet television network’s stock, valued at approximately $506,000.

Several other hedge funds also recently added to or reduced their stakes in the company. Halbert Hargrove Global Advisors LLC grew its stake in Netflix by 100.0% in the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network’s stock worth $25,000 after acquiring an additional 13 shares in the last quarter. Brown Shipley& Co Ltd bought a new position in Netflix in the 4th quarter worth about $27,000. Transce3nd LLC bought a new position in Netflix in the 4th quarter worth about $32,000. Copia Wealth Management bought a new position in Netflix in the 4th quarter worth about $37,000. Finally, Stuart Chaussee & Associates Inc. grew its stake in Netflix by 4,500.0% in the 4th quarter. Stuart Chaussee & Associates Inc. now owns 46 shares of the Internet television network’s stock worth $41,000 after acquiring an additional 45 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors.

Insider Activity at Netflix

In other news, Chairman Reed Hastings sold 25,360 shares of Netflix stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $921.15, for a total value of $23,360,364.00. Following the sale, the chairman now owns 394 shares in the company, valued at $362,933.10. This trade represents a 98.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Spencer Adam Neumann sold 2,601 shares of Netflix stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $921.72, for a total transaction of $2,397,393.72. Following the completion of the sale, the chief financial officer now owns 3,691 shares in the company, valued at approximately $3,402,068.52. This trade represents a 41.34% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 184,660 shares of company stock worth $209,802,025. 1.37% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

NFLX has been the topic of a number of research analyst reports. Wolfe Research set a $1,340.00 target price on shares of Netflix and gave the stock an “outperform” rating in a research note on Friday, May 16th. Oppenheimer upped their target price on shares of Netflix from $1,200.00 to $1,425.00 and gave the stock an “outperform” rating in a research note on Thursday, June 12th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $1,220.00 price target (up previously from $1,150.00) on shares of Netflix in a research report on Monday, May 19th. Pivotal Research upped their price target on shares of Netflix from $1,350.00 to $1,600.00 and gave the stock a “buy” rating in a research report on Friday, June 20th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $1,126.00 price target on shares of Netflix in a research report on Thursday, April 17th. Eleven investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,172.73.

Netflix Stock Down 0.3%

NASDAQ:NFLX opened at $1,275.25 on Thursday. The firm has a market capitalization of $542.71 billion, a P/E ratio of 60.27, a PEG ratio of 2.47 and a beta of 1.59. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.20 and a quick ratio of 1.20. The company’s fifty day moving average price is $1,169.57 and its 200-day moving average price is $1,018.04. Netflix, Inc. has a 1-year low of $587.04 and a 1-year high of $1,298.00.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, beating the consensus estimate of $5.74 by $0.87. The company had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.51 billion. Netflix had a net margin of 23.07% and a return on equity of 39.61%. During the same quarter last year, the business earned $8.28 earnings per share. As a group, equities research analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current year.

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.