Centre Asset Management LLC Takes $3.11 Million Position in Netflix, Inc. (NASDAQ:NFLX)

Centre Asset Management LLC bought a new stake in shares of Netflix, Inc. (NASDAQ:NFLX) during the 1st quarter, HoldingsChannel reports. The institutional investor bought 3,335 shares of the Internet television network’s stock, valued at approximately $3,110,000.

Several other large investors have also recently modified their holdings of the stock. Capital & Planning LLC purchased a new position in Netflix during the 4th quarter valued at $809,000. Brighton Jones LLC boosted its holdings in Netflix by 5.0% during the 4th quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network’s stock valued at $4,804,000 after acquiring an additional 257 shares during the period. Union Bancaire Privee UBP SA purchased a new position in Netflix during the 4th quarter valued at $12,212,000. Revolve Wealth Partners LLC boosted its holdings in Netflix by 16.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network’s stock valued at $912,000 after acquiring an additional 144 shares during the period. Finally, BSW Wealth Partners boosted its holdings in Netflix by 6.5% during the 4th quarter. BSW Wealth Partners now owns 1,562 shares of the Internet television network’s stock valued at $1,392,000 after acquiring an additional 96 shares during the period. Institutional investors own 80.93% of the company’s stock.

Insider Activity at Netflix

In related news, CFO Spencer Adam Neumann sold 2,601 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $982.05, for a total transaction of $2,554,312.05. Following the transaction, the chief financial officer now directly owns 3,691 shares of the company’s stock, valued at $3,624,746.55. This represents a 41.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Reed Hastings sold 25,360 shares of the company’s 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 transaction, the chairman now directly owns 394 shares in the company, valued at $362,933.10. This represents a 98.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 133,348 shares of company stock valued at $139,087,908 in the last ninety days. Corporate insiders own 1.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Citigroup restated a “neutral” rating on shares of Netflix in a report on Monday, May 5th. Canaccord Genuity Group boosted their price objective on Netflix from $1,200.00 to $1,380.00 and gave the company a “buy” rating in a report on Friday, May 16th. Needham & Company LLC restated a “buy” rating and set a $1,126.00 price objective on shares of Netflix in a report on Thursday, April 17th. Macquarie upped their target price on Netflix from $1,150.00 to $1,200.00 and gave the stock an “outperform” rating in a report on Monday, April 21st. Finally, Rosenblatt Securities upped their target price on Netflix from $1,494.00 to $1,514.00 and gave the stock a “buy” rating in a report on Monday, April 21st. Eleven equities research 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 data from MarketBeat.com, Netflix currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,102.79.

Netflix Trading Down 0.2%

Shares of NASDAQ NFLX opened at $1,208.55 on Thursday. The business has a fifty day moving average price of $1,050.92 and a 200 day moving average price of $969.04. Netflix, Inc. has a 1-year low of $587.04 and a 1-year high of $1,215.91. The stock has a market capitalization of $514.32 billion, a P/E ratio of 60.95, a price-to-earnings-growth ratio of 2.12 and a beta of 1.58. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.74 by $0.87. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The company had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.51 billion. During the same period in the prior year, the company posted $8.28 EPS. Equities research analysts expect that Netflix, Inc. will post 24.58 EPS for the current fiscal 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.